Ola CEO Bhavish Aggarwal has laid out an ambitious vision for India’s economic and technological future, aiming to transform the country into a $50 trillion economy by 2047. Aggarwal’s plan, centered on accelerating economic growth and harnessing advanced technologies, was revealed in a press release detailing his long-term strategy.
Economic Growth and Technological Advancement
Over the past decade, India’s GDP has nearly doubled, reaching $3.5 trillion. Bhavish Aggarwal believes that by increasing the economic growth rate from 8% to 12%, India can achieve a $50 trillion economy by 2047. Key to this transformation are advancements in artificial intelligence (AI) and new energy technologies.
“AI and new energy aren’t just standalone sectors; they’re enablers that can revolutionise our entire economy,” Aggarwal asserted. He envisions AI boosting productivity across industries while new energy technologies will cut costs and promote a sustainable future. These advancements, Aggarwal says, are essential for creating high-value jobs, strengthening supply chains, and positioning India as a global leader in future industries.
Building India’s AI Industry
Aggarwal emphasized the need for India to cultivate its own AI industry, which he believes will spur job creation and economic growth. He has already initiated this effort with Ola’s in-house Krutrim AI.
“We must prioritise AI and new energy as foundational technologies. These aren’t just standalone sectors, but enablers that can revolutionise our entire economy,” Aggarwal said. He highlighted India’s vast pool of developers, extensive data generation, and significant IT industry as strengths that can propel the country to become an AI powerhouse.
To counter “data colonisation,” where much of India’s data is stored offshore, Aggarwal advocates for building a robust domestic AI infrastructure. This includes increasing data centre capacity and developing cutting-edge AI chips. He calls for collaboration between the government and industry to localize data and attract global computing investments.
Revolutionizing the Energy Sector
Aggarwal’s vision also includes a major shift in the energy sector, from fossil fuels to renewable energy, battery storage, and electric vehicles (EVs). He acknowledges India’s progress in renewable energy, particularly solar power, but stresses the need to accelerate efforts to match global leaders.
“For renewable energy to be effective, robust battery storage solutions are essential,” Aggarwal noted. He aims for India to become the largest EV market by 2030, advocating for EV-friendly policies and comprehensive industry support for the transition to electric mobility.
“By 2030, India should aim to become the world’s largest EV market by accelerating EV-friendly policies and encouraging industry-wide support for the EV transition across all mobility types,” Aggarwal said. He believes this shift will create a cleaner environment, reduce transportation costs, and generate numerous jobs. Establishing a self-sufficient new energy ecosystem will also reduce India’s dependence on imports and position the country as a key player in the global energy landscape.
Achieving Technological Freedom
Aggarwal’s vision is not limited to economic growth but extends to creating a technologically independent India by 2047. He envisions India not just as a consumer of global technology but as a creator and leader.
“In 1947, we won our political freedom. In 2047, we must achieve our technological freedom,” Aggarwal stated. By mastering AI, new energy, and other advanced technologies, Aggarwal believes India can ensure that the benefits reach all its citizens, fostering innovation and creating future-ready jobs.
Aggarwal concluded by emphasizing the need for bold actions and big dreams to position India as a true tech superpower. His $50 trillion vision sets a high bar for the country’s future, blending economic aspirations with a commitment to technological leadership.