NEW DELHI: Three recent reports have put the spotlight on India’s growth prospects in the future. First, a study released by the United Nations Development Programme (UNDP), reported that India had successfully lifted 415 million reports between 2005-21. Second, Morgan Stanley put out what is probably the most optimistic report yet by a global investor. According to India’s gross domestic product would more than double to $7.5 trillion by the end of this decade—effectively India would grow its national income more than the $3 trillion that it has achieved in its first 75 years. Third, a research report published by PRICE, a think tank, projects a massive surge in the middle class. According to the report, this cohort would grow to 715 million by 2031 and then to a staggering 1 billion by 2047. Alongside another key trend that is rapidly emerging is the unique technology backbone India has created over the last decade and more. Riding on the India tech stack, the country has rolled out Digital Public Goods public digital rails that enable anyone to launch innovations on top of them like Aadhaar, Unified Payments Interface, Cowin, Health Stack, Account Aggregator, Open Network for Digital Commerce and so on. All of them are democratizing access and enabling empowerment at scale. Taking the two together it is clear that this is India’s Techade. To understand this and more we spoke to Anjali Bansal, founding partner of Avaana Capital. As an investor in technology-inspired startups focused on climate solutions, Anjali has a vantage view of the transformative changes driving the Indian economy.
