India could reach $9.82 trillion in economic activity by 2035: PwC report
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.
Play Video
Play
Skip Backward
Skip Forward
Mute
Current Time
0:00
/
Duration
0:00
Loaded
:
0%
Stream Type
LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
1x
Playback Rate
Chapters
Chapters
Descriptions
descriptions off
, selected
Captions
captions and subtitles off
, selected
Audio Track
Picture-in-Picture
Fullscreen
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text
Color
White
Black
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Text Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Opaque
Semi-Transparent
Transparent
Caption Area Background
Color
Black
White
Red
Green
Blue
Yellow
Magenta
Cyan
Opacity
Transparent
Semi-Transparent
Opaque
Font Size
50%
75%
100%
125%
150%
175%
200%
300%
400%
Text Edge Style
None
Raised
Depressed
Uniform
Drop shadow
Font Family
Proportional Sans-Serif
Monospace Sans-Serif
Proportional Serif
Monospace Serif
Casual
Script
Small Caps
Reset
restore all settings to the default values
Done
Close Modal Dialog
End of dialog window.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
The Top 25 Most Beautiful Women In The World
Articles Vally
Undo
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.
Live Events
'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 $30 trillion economy by 2047, PwC's domain-based approach suggests that companies who align with these human and industrial needs—and collaborate across sector lines—will be best positioned to drive and benefit from the country's next phase of inclusive and sustainable growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
Rupee weakens by 46 paise to close at 85.85/$
Mumbai: The Indian currency weakened nearly half a rupee to close at 85.85 per dollar on Monday, from its previous close of 85.39/$1 as uncertainty about US tariff policies resurfaced with President Donald Trump's threat of an additional 10% levy on Brics countries. The rupee opened at 85.57/$1, and weakened till 86.03/$1 on Monday, before pairing its losses and closing at 85.85/$1, likely due to intervention by the Reserve Bank, traders said. "Markets were expecting something on the trade deal with the US, but nothing came up, and the BRICS statement deteriorated sentiments. We were the second worst performing currency in Asia, and due to potential RBI intervention, we erased some losses and to be the third worst-performing Asian currency," said Dilip Parmar, currency research analyst at HDFC Securities. Japanese Yen and the Thai baht were the two worst performing Asian currencies. Traders expect the rupee to move in the range of 85.50/$1 to 86.25/$1 on Tuesday, ahead of July 9, when Trump will unveil his new stand on tariffs. In a social media post, President Donald Trump stated a new tariff policy, calling for countries "aligning themselves with the Anti-American policies" of the BRICS developing nations to be charged an extra 10% tariff, with no exceptions to be granted. India, along with Brazil, China, Russia, South Africa are part of BRICS. The dollar index gained slightly at 97.6, from 96.9 previously. "The BRICS comment has put the India-US deal in jeopardy and we are awaiting clarifications from India-US on the matter. The rupee has fallen as the market is not expecting the deal to be done soon," said Anil Bhansali, head of treasury at Finrex Treasury Advisors.
Time of India
24 minutes ago
- Time of India
Lendingkart Finance founder Lunia steps down as MD
Mumbai: Founder promoter Harshvardhan Lunia stepped down as the managing director of Lendingkart Finance effective end June and the Temasek-backed fintech is yet to appoint a new MD. Fullerton Financial Holdings , the largest shareholder of Lendingkart, has recommended the name of a new MD that is being vetted by the Reserve Bank of India, people aware of the development said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally The company reported ₹288 crore losses in FY25 against net profit of ₹60 crore a year ago. Raichand Lunia, the founder's father, continues to be on the board of the firm as an independent director. T V Rao, who is an independent director, is also chairman of the board. Lendingkart Finance did not respond to ET's request for comment. As of October 31, 2024, Fullerton held 44% stake in Lendingkart Technologies (LTPL), the parent company of unlisted Lendingkart. The group has received investment of ₹799 crore from Fullerton since October 2019. In October 2024, Temasek issued a ₹50 crore standby letter that Lendingkart Finance can draw down to meet any financial commitments. Live Events The fintech, which specialises in giving unsecured loans to small and medium companies , reported losses before tax of ₹396 crore against a net profit of ₹80 crore a year ago.
Time of India
25 minutes ago
- Time of India
Indian stock valuations trading above average, but no overheating yet: Motilal Oswal Financial Services
Valuations of Indian equities are trading above their long-term averages, indicating stocks are far from cheap at current levels. The Nifty is trading at an estimated Price to Earnings (PE) ratio of 21.7 times, above its averages for five, ten and fifteen years, according to Motilal Oswal Financial Services . The price-to-book multiple for the Nifty stands at 3 times, compared to a decade average of 2.7 times, it said. 'While valuations have crept above long-term averages, we do not consider it to be in the overheated zone,' said the brokerage's note. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Amazing Moments Captured in Perfectly Timed Photos Read More Undo The Nifty's PE ratio in September 2024, when the indices hit their peaks, was at 23-24 times. The market capitalisation-to-GDP ratio, a broad indicator of overall market valuations, is estimated at 127% for FY26, above the historical average of 87%. Agencies The measure, also known as the Buffett indicator after Warren Buffett, is down from a peak of 146% in September. The PE ratios of mid-cap and smallcap indices show their valuations are at a premium to the large-cap stocks. Motilal Oswal's head of institutional research Gautam Duggad said the firm is raising allocation to midcaps, citing superior growth. The brokerage prefers a blend of large- and mid-caps.
