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BUSINESS & TRADE JULY 04, 2025 | The Indian Eye 38

India’s AI-Powered

Services Revolution: Can it be

the Next Growth Engine?

With a robust services sector and surging AI adoption, India is uniquely poised to lead

the next global growth wave—if it gets the execution right.

OUR BUREAU dia’s only AI event that intentionally
brings together problem owners and
New Delhi/Mumbai/Bengaluru
problem solvers,” said Alok Agrawal,
s global trade shifts and tech- co-founder of AI4India.
nology reshapes economies, India’s service economy already
AIndia’s service-driven economy accounts for over 50% of its GDP,
stands at a strategic inflection point. and with AI acting as a force multi-
From financial services to AI-enabled plier, the potential for scalable, in-
public platforms, the country is em- clusive growth is enormous. From
bracing the twin engines of service fintech innovation in GIFT City to
innovation and artificial intelligence integrating UPI into global trade fi-
to fuel its next growth spurt. nance, India’s digital infrastructure
At a recent Trade Roundtable offers a strong foundation for AI-led
organized by the Centre of Policy disruption.
Research and Governance (CPRG) Yet, challenges persist. “Many
at the National Stock Exchange in businesses are still unsure about the
Mumbai, Ashish Chauhan, MD & AI use cases which are ready for im-
CEO of NSE, emphasized the pow- plementation,” AI4India noted. Sev-
er of India’s services economy. “Our eral startups struggle to scale beyond
strategy need not be reactionary,” he proof-of-concept. Additionally, con-
said. “While we improve goods ex- cerns around data privacy, algorith-
ports with finance and policy reforms, mic bias, and workforce displacement
our services and experience-driven National Stock Exchange in Mumbai, Ashish Chauhan, MD & CEO of NSE, has emphasized need deliberate policy responses.
sectors have boundless potential and the power of India’s services economy (Agency Photo) Still, the opportunity is undeni-
are key to shaping our global eco- able.
nomic presence.” “India must not merely partici-
The roundtable, which included 36% of Indian workers feel ade- able collaboration. pate in the AI revolution—it must
policymakers and industry leaders quately prepared to use AI effectively. “The real challenge is transform- shape it,” said CPRG Director Dr
from sectors like steel, aluminium, Kalra stressed that for India to move ing this momentum into localized, Ramanand. “That means continuous
and finance, underscored a central from experimentation to real impact, meaningful outcomes,” said Shashi dialogue between economists, tech-
theme: India’s comparative advan- “enterprises must invest in structured Shekhar Vempati, former CEO of nologists, and policymakers, with
tage lies not just in what it makes, but training, in-person coaching, and Prasar Bharati and co-founder of AI- economic sovereignty and citizen
in how it serves. leadership enablement to scale value 4India. “We must create AI solutions empowerment at the core.”
Supporting this transformation both responsibly and inclusively.” tailored to India’s unique problems— As the CPRG’s trade roundta-
is a significant rise in AI usage. A new BCG’s findings are echoed in healthcare, education, agriculture, bles continue, and with AI4India’s
Boston Consulting Group (BCG) across sectors. While frontline AI and governance.” summit gaining traction, a consen-
report reveals that India leads the adoption has plateaued globally at Dr Jai Asundi, Director of sus is emerging: India’s next wave of
world in GenAI adoption, with 92% 51%, Indian startups, enterprises, CSTEP, added, “This summit rep- growth will be powered by the fusion
of workers using AI tools, compared and even civic bodies are pushing the resents a decisive step toward estab- of services and intelligence—both
to the global average of 72%. envelope, experimenting with work- lishing India as a global frontrunner human and artificial.
“India ranks among the top na- flow automation and AI-enhanced in responsible, human-centric AI in- With proper investment in train-
tions experimenting with AI agents, decision-making—albeit unevenly. novation.” ing, leadership, and inclusion, India
placing it in the global top three,” said Bridging this gap between inno- The summit will bring together can convert its early-mover advan-
Nipun Kalra, Managing Director and vation and impact is the focus of the stakeholders from across the ecosys- tage in AI adoption into lasting glob-
India Leader at BCG X. “But this upcoming AI for India Summit 2025, tem: from industry giants like HDFC al competitiveness.
rapid adoption brings new challeng- to be held in Bengaluru on June 28. Bank and TVS Motors to startups The path forward lies not in em-
es. Nearly 48% of Indian employees Organized by AI4India and the Cen- such as Sarvam and BharatGen. Live ulating industrial models of the past,
fear job displacement, highlighting a tre for Science, Technology and Pol- demos, keynote addresses, and poli- but in pioneering a uniquely Indian
growing sense of uncertainty.” icy (CSTEP), the event promises to cy roundtables will focus on scaling blueprint for intelligent, service-led
One reason: training gaps. Just move beyond hype and foster action- real-world solutions. “It will be In- growth.

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