New Delhi is buzzing with optimism as a fresh PwC report declares India’s unstoppable rise as a global economic leader. With innovation driving the charge, the country is breaking barriers and redefining growth.
The report paints a picture of a nation on the move. India’s manufacturing base is expanding, and its innovation capabilities are reaching new heights. Traditional sector boundaries? Gone. Indian companies aren’t just sticking to what they know—they’re diving into uncharted territories.
“Indian organisations are entering new domains of growth-transcending traditional sector boundaries to meet fundamental human and business needs,” the PwC report reveals. It’s not just talk. The numbers back it up.
In 2023, India topped innovation rankings among lower-middle-income countries and dominated Central and Southern Asia. Industrial design applications shot up by 36.4%, signaling a boom in creativity and product development.
Look around, and you’ll see the shift. Mobile phone manufacturers are now dabbling in finance and healthcare. Automobile giants are venturing into space and energy. Even traditional retailers are branching into financial services. The lines between industries are blurring, and India is leading the charge.
The goal is ambitious but clear. By 2047, India aims for its manufacturing sector to contribute 25% to a projected $30 trillion economy. That means growing 16 times over the next 22-23 years. No small feat, but the report suggests it’s within reach.
Gross Value Added (GVA) under the ‘Make’ domain is projected to hit nearly $2.7 trillion by 2035. Manufacturing isn’t just a sector—it’s the backbone of India’s long-term vision.
How will it happen? Digital transformation is key. Businesses must boost productivity and efficiency by embracing new technologies. Diversification is equally critical. Exploring untapped opportunities will fuel broader value creation.
India’s track record speaks for itself. As the world’s fastest-growing major economy from 2023 to 2026, it’s clear that startups and businesses are the engines behind this success. They’re not just participating in the economy—they’re reshaping it.
The message is loud and clear. India isn’t just keeping up with global trends it’s setting them. And with innovation at the helm, the future looks brighter than ever.