SAP Highlights India's Growth Trajectory, Foresees $30 Trillion GDP by 2047
A stable and visionary political leadership, young talented population, vast AI and startup community and innovations across businesses will help India reach its $30 trillion GDP growth goal by 2047, Paul Marriott, President for Asia Pacific Japan (APJ) of cloud software major SAP said here on Monday.
Emphasising the need to make India’s journey from “incredible to inevitable” to become ‘Viksit Bharat’ by 2047 as laid out by Prime Minister Narendra Modi, the top company executive said that the country is now the fastest growing economy and the third most digitised nation in the world.
“India can reach its $30 trillion GDP goal by 2047 which is a staggering 10 times from today. It is possible with the kind of innovations we are seeing in businesses across all the segments, with an amazing political leadership at the helm,” Marriott told a packed house at the company’s flagship event in the financial capital.
He stressed that businesses in the country must join the generative AI bandwagon and grow further at scale.
“We are investing significantly in India to empower cutting-edge technology to give businesses the next big opportunity in an AI era,” he noted.
In this direction, the company is providing Indian businesses with solutions across three key areas: make supply chains intelligent and sustainable, innovate with Business Al and empower India's growth through SMEs (small and medium enterprises).
Manish Prasad, President and Managing Director for SAP Indian Subcontinent, informed that about 60 per cent of India's GDP touches the SAP ecosystem.
“When it comes to inclusive growth, 80 per cent of our customers in India represent small and medium businesses. That is the foundation for future growth,” Prasad told the gathering.
SAP has its largest R&D development centre in India outside of Germany where it is headquartered.
There are 75 million SME businesses across India, giving employment to nearly 123 million people in the SME ecosystem in the country.
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