India's Tech Sector: Catalyst in the USD 7-Trillion Economic Vision

India aims to become a USD 7-trillion economy by 2030, with the tech sector contributing USD 1 trillion to GDP. NASSCOM's Rajesh Nambiar emphasizes deep tech innovation as crucial in transforming sectors like healthcare. The Startup Mahakumbh highlights India's position as a major global startup ecosystem.

As India sets its sights on a USD 7-trillion economy by 2030, the technology sector emerges as a crucial player, contributing approximately USD 1 trillion to the gross domestic product. According to Rajesh Nambiar, President of IT Industry body NASSCOM, this development hinges on tech-driven innovation addressing both domestic and global challenges.

Nambiar highlights the transformative power of deep tech in reshaping sectors such as healthcare and financial services, contributing to India's vision of becoming a Viksit Bharat by 2047. He revealed these insights during the opening of Startup Mahakumbh, where he also underlined the vital role of tech in India's future economic trajectory.

Moreover, India's robust startup environment—with around 35,000 startups and a surge in tech IPOs—supports this vision. The tech sector significantly impacted India's GDP in 2024, contributing USD 283 billion. To maintain momentum, India must transition from tech user to creator, build intellectual property, and lead in global standards and patents.

(With inputs from agencies.)