♦ Bain & Company and Nasscom released the 'India @2047: Transforming India into a Tech-Driven Economy' report on 20 February 2025.

♦ According to this, India is set to transform into a high-income country with a projected GDP of $23–$35 trillion by 2047, driven by sustained annual growth of 8-10 percent.

Key Highlights:

♦ By 2047, the services sector is expected to contribute 60% of India’s GDP, while manufacturing will account for 32%, both playing a crucial role in economic expansion.

♦ Electronics, energy, chemicals, automotive, and services sectors would act as strategic growth levers due to alignment with global trends and scalability.

♦ Advances in AI-driven chip design, touchless manufacturing, and backward integration into component manufacturing and design could enhance cost competitiveness and innovation, driving the sector’s export share from 24 percent to 45 percent-50 percent by 2047 and its GDP contribution from 3 percent to 8 percent-10 percent.

♦ India’s share of renewables in overall energy generation has the potential to rise from 24 percent in 2023 to 70 percent in 2047 backed by modernising energy infrastructure, and scaled investments in green energy.

♦ India is also likely to transition from a net energy importer to a net exporter.

♦ Auto-components  exports sector is likely to reach $200–$250 billion (by 2047), driven by near-term share capture in ICE market and longer-term shift to EVs.