India is uniquely positioned to drive the next global technology breakthrough, thanks to its big data superiority. This is according to Claude Smadja, former Managing Director of the World Economic Forum (WEF). Smadja highlighted India's unique advantages, stating that its capacity for data collection and utilization places it at an inflection point, ready to accelerate technological innovation.
Speaking at the India Global Innovation Connect (IGIC) 2025, Smadja emphasized that the next big surprise in technology could emerge from India, particularly in the realms of data and big data. He pointed to India's unparalleled advantage in data collection and its potential for leveraging this data.
Smadja contrasted India's position with that of other major world economies. He noted that the United States is losing momentum and its prominence is eroding, while China faces structural challenges. According to Smadja, this global backdrop presents India with a unique opportunity to assert itself as a hub for technological innovation. He urged India to seize this critical moment to accelerate its technological advancement and catch up with global leaders.
India's IT sector is already a significant contributor to the nation's economy, accounting for 7.3% of the GDP in 2024, with a value of $283 billion. Projections estimate that the technology sector will contribute US$1 trillion to the GDP by 2030, playing a central role as India aims to become a US$7 trillion economy.
The country is also witnessing rapid growth in its Artificial Intelligence (AI) sector, which is expanding at a CAGR of nearly 40% and is projected to reach a value of $8 billion by 2025. India's large pool of skilled engineers, specializing in software development, cloud solutions, and emerging technologies like AI and IoT, further strengthens its position as a global technology hub.
Moreover, the Indian government's support through policies and initiatives such as Digital India and Make in India encourages technology development and adoption across various sectors. India has also become a favorite destination for multinational corporations to establish Global Capability Centers (GCCs) and data centers, underscoring its importance in the global technology landscape.
India's big data and AI ecosystem has been rapidly expanding, attracting both large and small companies. The big data technology and services market in India is projected to grow from US$2.17 billion in 2024 to US$3.38 billion by 2029, demonstrating the increasing demand for data analytics and solutions.
Big data analytics is also transforming various sectors in India, including healthcare, education, and finance. In healthcare, big data is being used to develop cancer treatments and support therapies for patients. In education, it helps educators identify student needs and analyze performance. In finance, big data analytics is enabling fintech companies to make critical business decisions and expand their reach to rural areas.
To fully realize its potential in the big data and technology space, India needs to address certain challenges such as capturing, storing, and processing data in a structured form. There is also a need to foster a culture that values data and encourages adherence to standards and protocols.
Despite these challenges, India's unique data superiority, combined with its skilled workforce, government support, and growing technology sector, positions it as a frontrunner in driving the next global tech breakthrough. As Claude Smadja pointed out, India's moment has arrived, and it must seize this opportunity to assert its leadership in the technological domain and become a new global hub for technology innovation and entrepreneurship.
