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India Today
2 days ago
- Business
- India Today
India's AI market set to triple to $17 billion by 2027: Report
India's artificial intelligence (AI) market is expected to grow more than triple in value to $17 billion by 2027, according to a report by Boston Consulting Group (BCG).The report, titled "India's AI Leap: BCG Perspective on Emerging Challengers," indicates that the country is set to become one of the fastest-growing AI economies growth is attributed to burgeoning enterprise tech investments, a robust digital ecosystem, and a significant talent "India is no exception—businesses across sectors are rapidly embracing AI to solve local challenges, scale innovation, and drive competitive advantage. AI is significantly expanding the total addressable market (TAM) by 1.2 to 1.5 times across key Indian sectors, while delivering unmatched efficiencies and speed," the report talent landscape is also projected to see remarkable India boasts over 6,00,000 AI professionals, a number expected to rise to 1.25 million by 2027. This positions India as a global leader, second only to the United States, in terms of AI talent, aided by its demographic advantage and a strong pipeline of STEM education. Additionally, public platforms like Aadhaar, UPI, and DigiLocker provide a scalable foundation for AI extensive internet usage and smartphone penetration, India generates vast amounts of data, crucial for AI model no longer in the realm of hype; real traction is visible, real outcomes are emerging, and serious dollars are starting to flow. AI is not a side project—it's the next growth engine," the report impact is increasingly evident across sectors such as finance, healthcare, media, retail, and real Kohli, Managing Director and Partner at BCG India, highlighted that AI has become a business necessity rather than an option."AI is no longer an option but a business necessity. Indian companies are using it to leapfrog traditional growth curves and compete confidently on the global stage. While the hurdle rate for successful deployment is high, the rewards are even higher, and the results speak for themselves. What separates the leaders is not just the tech, but how they manage change, build talent, and embed AI into the fabric of their organisation," Kohli said. Must Watch
Mint
3 days ago
- Business
- Mint
Indias AI market to triple to USD 17 billion by 2027: Report
New Delhi, The Indian AI market is expected to grow to over USD 17 billion by 2027, more than tripling its current size, driven by increased investments in enterprise technology, a flourishing digital ecosystem, and a strong pool of skilled professionals, according to BCG. The nation makes up 16 per cent of the world's AI talent, placing it behind only the US, reflecting both its demographic advantage and strong STEM education system. Boston Consulting Group , in a report titled "India's AI Leap: BCG Perspective on Emerging Challengers", said India has a thriving AI ecosystem with over 600,000 AI professionals, 700 million internet users, and a surge of AI startups with over 2000 launched in the past three years. "India's domestic AI market is projected to more than triple to USD 17 billion by 2027, making it one of the fastest-growing AI economies globally. This momentum is fuelled by rising enter-prise tech investments, a thriving digital ecosystem, and a robust talent base," the report said. Beyond talent, India's public digital infrastructures such as Aadhaar, UPI, DigiLocker, and the Open Network for Digital Commerce provide a robust and scalable base for AI integration across various industries. With a large base of internet users and extensive smartphone adoption, India generates massive volumes of data, which is the fuel for training AI models. This scale, BCG said, combined with open architecture, is enabling the development of population-scale AI solutions across sectors. India is set to add 45 new data centres in 2025, bringing an extra 1,015 MW of capacity to its existing network of 152 centres. The government's IndiaAI initiative, with a corpus of over ₹ 10,000 crore, will establish national AI compute infrastructure, providing access to over 10,000 GPUs for AI model training and research. "AI is no longer an option but a business necessity. Indian companies are using it to leapfrog traditional growth curves and compete confidently on the global stage. "While the hurdle rate for successful deployment is high, the rewards are even higher, and the results speak for themselves. What separates the leaders is not just the tech, but how they manage change, build talent, and embed AI into the fabric of their organisation," said Mandeep Kohli, Managing Director and Partner, BCG India. This article was generated from an automated news agency feed without modifications to text.
Khaleej Times
27-02-2025
- Health
- Khaleej Times
Experts urge India to rewrite clinical trial rules to boost global market share
India should take a page from the playbook of countries such as China and Australia if it wants a larger share of the global clinical trials market, healthcare experts said at an industry conference. As of 2022, India held an 8 per cent share in global clinical trials — which evaluate the safety and effectiveness of new treatments — compared to China's 29 per cent, the US's 25 per cent, and 38 per cent for the rest of the world, data from consultancy PwC showed. "There's a lot to learn from what other countries have done to make them clinical trial destinations," BCG India partner Smruthi Suryaprakash said, pointing out that China saw an increase in innovation after easing regulations, while Australia has benefited from offering significant tax incentives. India's clinical trials research market is rapidly expanding, supported by a diverse patient base, cost-effective solutions, and a growing hospital network, according to US-based GrandView Research, which forecasts revenues exceeding $2 billion by 2030. "India will be able to capture the clinical trial (market) if we can really work on the speed. I think speed is what is really important to sponsors, either with regulator or being able to recruit patients faster," Suryaprakash added. Suryaprakash, along with other experts, was speaking as part of a panel at the BioAsia conference in the southern Indian state of Telangana. Rajeev Raghuvanshi, who heads India's drug regulator, said it was working to make the regulatory process more streamlined for global trials in India, based on feedback from stakeholders. "We have aligned things every year on average for the last three years," the drugs controller general of India said. The agency which revamped its trial rules in 2019, had approved about 160 trials in the last three years, he added. Recruiting the right patients Allowing sponsors to raise awareness among patients, such as through advertisements of ongoing studies, would also help India advance as a recruitment site, the experts said. Advertising studies for experimental treatments could be helpful, especially for patients with rare diseases without many treatment options. It is a common practice in countries such as the US and the UK. "You're not able to recruit into the trial because they (patients) do not know that it exists," said Padmaja Lokireddy, an oncologist at Apollo Hospitals. That needs to change, experts said. Some other experts highlighted challenges related to preparing a clinical trial site, ensuring it meets global safety standards and recruiting the right patients.
Zawya
27-02-2025
- Health
- Zawya
Healthcare experts urge India to rewrite clinical trial rules to boost global market share
India should take a page from the playbook of countries such as China and Australia if it wants a larger share of the global clinical trials market, healthcare experts said at an industry conference. As of 2022, India held an 8% share in global clinical trials - which evaluate the safety and effectiveness of new treatments - compared to China's 29%, the U.S.'s 25%, and 38% for the rest of the world, data from consultancy PwC showed. "There's a lot to learn from what other countries have done to make them clinical trial destinations," BCG India partner Smruthi Suryaprakash said, pointing out that China saw an increase in innovation after easing regulations, while Australia has benefited from offering significant tax incentives. India's clinical trials research market is rapidly expanding, supported by a diverse patient base, cost-effective solutions, and a growing hospital network, according to U.S.-based GrandView Research, which forecasts revenues exceeding $2 billion by 2030. "India will be able to capture the clinical trial (market) if we can really work on the speed. I think speed is what is really important to sponsors, either with regulator or being able to recruit patients faster," Suryaprakash added. Suryaprakash, along with other experts, was speaking as part of a panel at the BioAsia conference in the southern Indian state of Telangana. Rajeev Raghuvanshi, who heads India's drug regulator, said it was working to make the regulatory process more streamlined for global trials in India, based on feedback from stakeholders. "We have aligned things every year on average for the last three years," the drugs controller general of India said. The agency which revamped its trial rules in 2019, had approved about 160 trials in the last three years, he added. RECRUITING THE RIGHT PATIENTS Allowing sponsors to raise awareness among patients, such as through advertisements of ongoing studies, would also help India advance as a recruitment site, the experts said. Advertising studies for experimental treatments could be helpful, especially for patients with rare diseases without many treatment options. It is a common practice in countries such as the U.S. and the U.K. "You're not able to recruit into the trial because they (patients) do not know that it exists," said Padmaja Lokireddy, an oncologist at Apollo Hospitals. That needs to change, experts said. Some other experts highlighted challenges related to preparing a clinical trial site, ensuring it meets global safety standards and recruiting the right patients. (Reporting by Bhanvi Satija, Kashish Tandon and Rishika Sadam in Hyderabad; Editing by Manas Mishra, Dhanya Skariachan and Tasim Zahid)
Reuters
27-02-2025
- Health
- Reuters
Healthcare experts urge India to rewrite clinical trial rules to boost global market share
HYDERABAD Feb 27 (Reuters) - India should take a page from the playbook of countries such as China and Australia if it wants a larger share of the global clinical trials market, healthcare experts said at an industry conference. As of 2022, India held an 8% share in global clinical trials - which evaluate the safety and effectiveness of new treatments - compared to China's 29%, the U.S.'s 25%, and 38% for the rest of the world, data from consultancy PwC showed. "There's a lot to learn from what other countries have done to make them clinical trial destinations," BCG India partner Smruthi Suryaprakash said, pointing out that China saw an increase in innovation after easing regulations, while Australia has benefited from offering significant tax incentives. India's clinical trials research market is rapidly expanding, supported by a diverse patient base, cost-effective solutions, and a growing hospital network, according to U.S.-based GrandView Research, which forecasts revenues exceeding $2 billion by 2030. "India will be able to capture the clinical trial (market) if we can really work on the speed. I think speed is what is really important to sponsors, either with regulator or being able to recruit patients faster," Suryaprakash added. Suryaprakash, along with other experts, was speaking as part of a panel at the BioAsia conference in the southern Indian state of Telangana. Rajeev Raghuvanshi, who heads India's drug regulator, said it was working to make the regulatory process more streamlined for global trials in India, based on feedback from stakeholders. "We have aligned things every year on average for the last three years," the drugs controller general of India said. The agency which revamped its trial rules in 2019, had approved about 160 trials in the last three years, he added. RECRUITING THE RIGHT PATIENTS Allowing sponsors to raise awareness among patients, such as through advertisements of ongoing studies, would also help India advance as a recruitment site, the experts said. Advertising studies for experimental treatments could be helpful, especially for patients with rare diseases without many treatment options. It is a common practice in countries such as the U.S. and the U.K. "You're not able to recruit into the trial because they (patients) do not know that it exists," said Padmaja Lokireddy, an oncologist at Apollo Hospitals ( opens new tab. That needs to change, experts said. Some other experts highlighted challenges related to preparing a clinical trial site, ensuring it meets global safety standards and recruiting the right patients.
