India could reach $9.82 trillion in economic activity by 2035: PwC report
Indian businesses have a potential to generate $9.82 trillion ineconomic value by moving beyond traditional sector-based models and addressing fundamental human and industrial needs, a report by PwC India said.The PwC report, Navigating the Value Shift, estimates that Indian businesses can unlock $9.82 trillion in gross value added (GVA) by 2035 by tapping into about nine growth domains. As per the report, total GVA of India will grow from $ 3.39 trillion in 2023 to 9.82 trillion in 2035, that is a CAGR of 9.27%.
GVA is essentially a measure of the value of goods and services produced in the economy and is an indicator of economic performance and productivity used to estimate GDP after adjusting for taxes and subsidies. The report introduces a new framework that focuses on 'domains' or broad areas of human need such as how we live, move, care, build and power society.The report added that these domains reflect how value is being created in an economy and is shaped by climate change, demographic shifts and technological disruption. Each domain brings together multiple industries and encourages cross-sector collaboration to deliver integrated solutions, the PwC report added.
'India CEOs are already responding to these shifts. In PwC's 28th Annual Global CEO Survey: India perspective published in January 2025, 40% of India CEOs stated that their companies have entered at least one new sector in the past five years, with half of them generating up to 20% of their revenue from these new ventures,' said Sanjeev Krishan, Chairperson, PwC in India. 'But to sustain momentum and unlock full value, businesses must move beyond ad hoc diversification. A domain-led lens that goes beyond the sector-led approach provides a powerful way to reimagine capabilities, collaborate across ecosystems, and build future-ready business and revenue models.' The report also identified nine domains, including how we make, how we build, how we care and how we move. Among these, the 'How we make' domain, which includes manufacturing and industrial production could be one of the biggest contributors and has a potential to grow from $945 billion in 2023 to about $2.7 trillion in GVA by 2035. This growth is expected to be driven by digital innovation, automation and the growing emphasis on advanced manufacturing.Another significant domain is 'How we build,' which is undergoing rapid transformation as technology reshapes construction, real estate and infrastructure. Traditional sectors are being augmented by smart buildings, sustainable materials and data-driven management tools, reflecting a shift toward more intelligent, efficient and integrated built environments.Arnab Basu, Partner and Clients & Industries Leader, PwC India said, "India's growth ambition is closely tied to its ability to innovate across domains. We are seeing a bold push from Indian enterprises to lead in newer markets—whether through digital reinvention, advanced manufacturing or sustainable infrastructure. What's needed now is an intentional, insight-led strategy to scale these efforts while keeping resilience and trust at the centre.'
The telecommunications sector illustrates how domain-based thinking can open up multiple pathways for growth. Beyond connectivity, telecom companies are supporting smart mobility, enabling telehealth and wearable devices, securing food supply chains through blockchain authentication, and linking broadband networks with energy infrastructure. These applications cut across several domains, creating new value pools through ecosystem collaboration. To help businesses navigate this shift, the report outlines a structured framework that includes 'glidepaths and guardrails'—strategic steps and risk mitigators for entering new domains. These include mapping ecosystem partners, bridging capability gaps, setting up intelligent foresight engines and developing clear entry and exit strategies.'In an environment where businesses are constantly seeking clarity on where to play and how to play, our research offers both strategic direction and a framework for them to engage creatively with growth opportunities they may not have necessarily identified,' said Raghav Narsalay, Partner and Leader – Research and Insights Hub, PwC India. The estimates in the report are based on economic modelling using the International Standard Industrial Classification (ISIC), and draw from data sources including the IMF, RBI and the IIASA Shared Socioeconomic Pathway 2 (SSP2). Sectors were mapped to domains using input-output tables to assess where they align most strongly and how value flows between them.With India targeting a $30 trillion economy by 2047, PwC's domain-based approach suggests that companies who align with these human and industrial needs—and collaborate across sector lines—will be best positioned to drive and benefit from the country's next phase of inclusive and sustainable growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
37 minutes ago
- Hans India
Indian stock market falls amid fresh US tariff threats, selling in IT stock
The Indian stock market ended the first trading session of the week in negative territory on Monday, amid selling in IT stocks and fresh global trade tensions over US tariffs. Sensex closed at 82,253.46, down 247.01 points or 0.30 per cent against last session's closing of 82,500.47. The 30-share index opened in green at Rs 82,537.87; however, the index fell to touch an intraday low at 82,010.38, following selling in IT stocks like TCS, Tech Mahindra and others. Nifty settled at 25,082.30, down 67.55 points or 0.27 per cent. TCS, Tech Mahindra, Infosys, Asian Paints, HCL Tech, Reliance Industries, Bajaj Finance, Tata Motors, and Kotak Bank were the top losers from the Sensex basket. While Eternal, Adani Ports, Titan, Mahindra and Mahindra ITC were settled in green. Meanwhile, from Nifty, 22 stocks advanced, 27 declined, and one remained unchanged. "The decline was primarily driven by renewed global trade tensions, as the US announced its intention to impose a 30 per cent tariff on most imports from the EU and Mexico, starting August 1, despite ongoing negotiations," said Sundar Kewat from Ashika Institutional Equity. In contrast, lacklustre trading in heavyweights, Nifty Smallcap 100 and Nifty Midcap 100 rallied significantly among broader indices. Nifty Smallcap 100 rose 1.02 per cent or 191.50 points, and Nifty Midcap 100 closed 410.35 points or 0.70 per cent high. Nifty IT fell 419 points or 1.11 per cent, while Nifty Auto, Nifty FMCG, and Nifty Bank settled in positive territory. The Indian rupee depreciated following fresh tariff threats from U.S. President Donald Trump. "These threats have escalated global trade tensions, leading to increased risk aversion among investors and subsequently weighing down other Asian currencies as well," said Dilip Parmar from HDFC Securities. Rupak De from LKP Securities said participants are awaiting CPI data from both India and the US, which is further dampening overall sentiment. Technically, the index slipped towards 25,000 on an intra-day basis, which is very close to the 50-DMA. On the lower end, support is placed at 24,900–24,950. If this zone holds, a rally towards 25,350 looks possible. However, failure to sustain above 24,900 may trigger a deeper phase of correction,' he noted.
Mint
39 minutes ago
- Mint
Sensex, Nifty fall for 4th day on selling in IT shares, foreign fund outflows
Mumbai, Jul 14 (PTI) Benchmark stock indices Sensex and Nifty declined on Monday, extending the losing run to the fourth day amid selling in IT shares and foreign fund outflows. The 30-share BSE Sensex dropped by 247.01 points or 0.30 per cent to settle at 82,253.46. During the day, it fell 490.09 points or 0.59 per cent to 82,010.38 but recovered some of the losses towards the close. The 50-share NSE Nifty settled lower by 67.55 points or 0.27 per cent to 25,082.30. Sensex has dropped nearly 1,460 points or 1.75 per cent and Nifty by 440 points or 1.73 per cent in the four days of fall since July 9. Among Sensex firms, Asian Paints fell the most by 1.58 per cent. Tech Mahindra, Bajaj Finance, Infosys, HCL Tech, Tata Consultancy Services, Larsen & Toubro and Tata Motors were among the laggards. However, Eternal, Titan, Mahindra & Mahindra and ITC were among the gainers. Foreign Institutional Investors (FIIs) offloaded equities worth ₹ 5,104.22 crore on Friday, according to exchange data. The broader indices, however, outperformed the benchmark, with midcap and smallcap indices gaining between 0.71 per cent and 1.04 per cent. "Consolidation continued in the domestic market as the tariff headlines and a subdued start to the earnings season are influencing investors to be more sensitive with valuation trading at 3 yrs high level,' Vinod Nair, Head of Research, Geojit Investments, said. However, stock-specific action continues with sector-wise pick-up in healthcare, realty, consumer & discretionary, while IT remains the laggard due to the risk of earnings downgrades in FY26, Nair added. An Indian commerce ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday, an official said. In Asian markets, South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the positive territory while Japan's Nikkei 225 index ended lower. European markets were trading in negative territory. The US markets ended lower on Friday. Wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13 per cent in June as deflation widened in food articles and fuel, along with softening in manufactured product costs, government data showed on Monday. Global oil benchmark Brent crude climbed 0.99 per cent to USD 71.06 a barrel. On Friday, the Sensex tanked 689.81 points or 0.83 per cent to settle at 82,500.47. Similarly, the Nifty dropped 205.40 points or 0.81 per cent to 25,149.85.
The Hindu
39 minutes ago
- The Hindu
Rupee falls 22 paise to settle at 86.02 against U.S. dollar
The rupee depreciated 22 paise and fell below 86 level to close at 86.02 (provisional) against the U.S. dollar on Monday (July 15, 2025) amid a rise in global crude oil prices and a strengthening greenback. Foreign fund outflows and delay in any breakthrough in the India-U.S. trade deal further pressured the local unit, according to forex traders. At the interbank foreign exchange, the local unit opened at 85.96 and traded in a narrow range of 85.92-86.05 before settling at 86.02 (provisional), down 22 paise from its previous close. The rupee depreciated 10 paise to close at 85.80 against the U.S. dollar on Friday. "The Indian rupee again fell as India-U.S. trade deal was yet to be seen while U.S. President Donald Trump applied tariffs on the EU and Mexico, two of its biggest trading partners. Dollar index rose and kept the rupee lower for the entire day while Asian currencies were slightly weaker," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03% to 97.82. Brent crude, the global oil benchmark, rose 1.56% to $71.46 per barrel in futures trade. "The Reserve Bank of India [RBI] was present to protect the rupee while FPIs who were sellers of equity on Friday were dollar buyers, keeping rupee well bid for the whole day without any major correction. We expect the rupee to move between 85.75 and 86.25 on Tuesday as we await for U.S. CPI data," he said. An Indian Commerce Ministry team reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), according to an official. The four-day talks will start on Monday and conclude on Thursday. On the domestic equity market front, the Sensex declined 247.01 points to settle at 82,253.46, while the Nifty dropped 67.55 points to 25,082.30. Wholesale price inflation (WPI) turned negative after a gap of 19 months, declining 0.13% in June as deflation widened in food articles and fuel, along with softening in manufactured product costs, government data showed on Monday. Foreign institutional investors (FIIs) sold equities worth ₹5,104.22 crore on a net basis on Friday, according to exchange data. Further, the latest RBI data released on Friday showed India's forex reserves dropped $3.049 billion to $699.736 billion in the week ended July 4.
