New Delhi, July 22(UNI) Large-scale adoption of the Cloud has the potential to contribute $380 billion to the country’s gross domestic product (GDP), creating
14 million direct and indirect employment opportunities by 2026, a Nasscom report showed on Wednesday. However, India may lose $118 billion in GDP contribution and five million job opportunities by 2026 if businesses and government are late to Cloud adoption, the report warned.
With global players heading to- wards new systems like 3D printing, IoT, and robotic automation, slow or low adoption in Cloud may result in Indian industries losing a competitive edge and India may lose its attractiveness among investors, ex-pats, and new businesses. According to the report, titled ‘Future of Cloud and Its Economic Impact: Opportunity for India,’ an all-around effort can result in the sustained growth of 25-30 percent of Cloud spending over the next five years.
“To ensure large-scale adoption of Cloud and Cloud-based services will require multi-stakeholder collaboration to address mindset challenges and perceptions in cloud adoption, incentivize SMBs to transition to Cloud, scale talent through re-skilling and up-skilling and amend Cloud-related policies to ease deployments,” explained Debjani Ghosh, President, Nasscom. At the compound annual growth rate (CAGR) of 44 percent, the Indian cloud market has out- paced global market in terms of growth rate, owing to a growing digital population, inflow of in- vestments, digitization of enterprises, and favorable government policies are accelerating India’s cloud growth.
Although India is still at the nascent stages of cloud adoption compared to mature markets, the shift to the cloud has become in- evitable since the pandemic and is playing a pivotal role in helping Indian businesses and government accelerate their digital transformation journey through infrastructure, platform, and software solutions said the re-port. Large-scale cloud adoption has the potential to fundamentally improve citizen services and drive digital inclusion in areas of healthcare, access to financial services and democratize education for all.
It can also stimulate innovation and open new opportunities for entrepreneurship in India, while at the same time helping companies build improved commercial products, promote R&D, and contribute to India’s Global Innovation Index.
“Cloud computing has proven to be the foundation for digital transformation, technology-led innovation, business growth, and positive social impact at scale in India,” said Rahul Sharma, President, AWS India and South Asia (Amazon Internet Services) WWPS. Cloud-based initiatives like MyGov Saathi, Curfew eP- ass, Covid-19 repository, Aarogya Setu and Cowin are few examples of the role of the Cloud in enabling the timely launch of cit
