Indian Businesses Can Unlock $9.82 Trillion in Value by 2035, Says PwC India Report
New Delhi, July 6, 2025 — Indian businesses could generate an additional $9.82 trillion in Gross Value Added (GVA) by 2035 by adopting a domain-based innovation approach, according to a new report released by PwC India.
The study, titled “Navigating the Value Shift”, highlights how megatrends such as climate change, demographic shifts, and rapid technological disruption are reshaping the global economic landscape — opening up new cross-sectoral opportunities for Indian enterprises.
Manufacturing to Lead with $2.7 Trillion in GVA by 2035
At the heart of India’s value creation story is the ‘Make’ domain — encompassing manufacturing, industrial production, and allied sectors.
The report estimates that this domain alone will expand from $945 billion in 2023 to nearly $2.7 trillion in GVA by 2035, making it one of the most significant contributors to India’s economic transformation.
“India has a chance to reimagine how value is created by aligning with evolving consumer needs and rethinking business capabilities,” said Sanjeev Krishan, Chairperson, PwC India.
From Sectors to Domains: A New Strategic Lens
Unlike traditional industry classifications, PwC’s domain-based framework urges businesses to think beyond sectoral silos and instead focus on holistic human and industrial needs — such as how we make, live, build, connect, move, and nourish.
Domains provide a cross-functional ecosystem view, which enables companies to tap into converging opportunities across various industries.
“To sustain momentum and unlock full value, businesses must move beyond ad hoc diversification,” Krishan added.
“A domain-led lens provides a powerful way to reimagine capabilities, collaborate across ecosystems, and build future-ready business and revenue models.”
India’s CEOs Are Already Pivoting
Insights from PwC’s 28th Annual Global CEO Survey: India Perspective suggest Indian executives are adapting fast:
- 40% of Indian CEOs say their companies have entered at least one new sector in the past five years
- 50% of these firms now generate up to 20% of revenue from these new ventures
This trend reflects an accelerating shift towards strategic diversification, driven by changes in technology, sustainability imperatives, and evolving consumer behaviors.
India on Track for $30 Trillion Economy by 2047
India is projected to become a $30 trillion economy by 2047, and domain-based innovation is poised to play a critical role in shaping this growth.
“As global value chains evolve, India’s ability to innovate across domains will determine its competitiveness and inclusiveness in the decades ahead,” said the report.
Key Emerging Domains to Watch
1. How We Build
This domain integrates traditional real estate and construction sectors with smart city infrastructure, building tech, and data-driven sustainability.
Key components include:
- Smart buildings and infrastructure
- Building Information Modelling (BIM)
- Green construction technologies
- Urban sustainability platforms
2. How We Connect
Telecommunications is at the heart of this domain but is rapidly expanding into:
- AI-enabled communication platforms
- Satellite broadband
- 5G-integrated IoT ecosystems
- Cross-domain collaborations with healthcare, logistics, and education
“Telecom will no longer just be about connectivity, but about enabling digital value across sectors,” the report noted.
Driving Inclusive and Sustainable Growth
With climate challenges, urbanisation, and digital inequality emerging as urgent issues, the domain approach supports a sustainable and inclusive model of economic development.
The Nourish domain, for instance, spans agriculture, foodtech, biotechnology, and water management, offering scalable solutions to tackle food security and nutrition gaps.
The Strategic Imperative for Indian Enterprises
PwC India emphasizes that the next decade will be defined not just by what Indian companies produce, but how they align business models to dynamic global value creation patterns.
“Companies that embrace domains rather than sectors can be more agile, seize new revenue streams, and build long-term resilience,” said Krishan.
At a Glance: PwC’s Domain Value Projections
| Domain | Estimated GVA by 2035 |
|---|---|
| Make (Manufacturing/Industrial) | $2.7 trillion |
| Build (Infrastructure/Smart Cities) | Major cross-domain contributor |
| Connect (Telecom/5G/IoT) | Emerging high-growth zone |
| Overall GVA Potential | $9.82 trillion |
Conclusion
India’s path to becoming a $30 trillion economy by 2047 may well hinge on how quickly and effectively businesses adopt a domain-centric mindset. As traditional boundaries dissolve, flexibility, innovation, and cross-sector collaboration will be key to unlocking the next wave of economic value.