Industry body Nasscom said in a recent report that if businesses and the government delay cloud adoption, India could lose $118 billion in GDP contribution and five million job opportunities by 2026.
The newly launched report titled “Future of Cloud and its Economic Impact: Opportunity for India” states that limited understanding of cloud features and benefits, issues of integration with legacy systems and in-built industries to drive change House capacity constraints are presented. Serious threats to cloud adoption.
In addition, global players are moving towards new cloud-based systems such as 3D printing, IoT, robotic automation, slow or low adoption, and more, which could result in Indian industries losing the competitive edge and in turn, India could lead to investors, expats and May lose its attractiveness among new people. businesses.
If they can overcome these challenges, there is a lot of potential ahead, help NASSCOM. Mass adoption of cloud could contribute $380 billion to India’s GDP and add 14 million direct and indirect jobs by 2026.
Nasscom leaders also emphasized that a consistent overall effort could result in a sustained growth of 25%-30% of cloud spend reaching $18.5 billion over the next five years. Furthermore, with increased digital transformation initiatives across enterprises, governments and SMBs today, cloud adoption has the potential to contribute to over 8% of India’s GDP over the next five years.
On the positive side, the Indian cloud market has outperformed the global market in terms of growth rate. Factors such as a growing digital population, investment inflows, digitization of enterprises and favorable government policies are driving India’s cloud growth.
Nasscom President Debjani Ghosh said, “Cloud adoption has immense potential in many aspects such as economic growth, digital inclusion, employment and global technology advances.”
However, he added that to ensure mass adoption of cloud and cloud-based services, multi-stakeholder collaboration is necessary to overcome the challenges and perceptions of mindset in cloud adoption.
Ghosh called for India to “encourage SMBs to transition to the cloud, rapidly scaling talent through re-skilling and up-skilling programs and easing cloud deployment” to gain a competitive edge in the cloud. Amendment in the relevant policies”.
The report further recommends that for India to establish itself as a global hub for cloud services and cloud talent, stakeholders need to take major initiatives in cloud adoption, talent creation and regulatory support.
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