India could add $500 billion to GDP by 2035 through strategic AI adoption: Acuité’s Sankar Chakraborti

The strategic adoption of artificial intelligence (AI) could boost India’s annual GDP growth by 1.3%, contributing an additional $500 billion to the economy by 2035, says Sankar Chakraborti, MD of Acuité Ratings & Research Limited. In an interview with ET Digital, Chakraborti highlights the pivotal role of AI in fostering innovation, generating jobs, and stimulating economic growth. However, he notes that the primary obstacles are inadequate high-performance computing capacity and continued brain drain. He asserts that AI should extend beyond urban centres to rural and semi-urban India. This expansion will require investments in infrastructure, affordable internet, and localised AI applications for small businesses to fully realise the potential of this opportunity. Edited excerpts: