India can harness AI to achieve $30 trillion economy target by 2047: IMF’s Kristalina Georgieva

New Delhi: International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Friday said that India’s goal of becoming a developed nation (Viksit Bharat) can be achieved with AI-driven innovation and expansion, and the country could harness AI to achieve its target of a $30 trillion economy by 2047.

Addressing the AI Impact Summit 2026 here, Georgieva said that artificial intelligence could bolster global growth by 0.8 per cent, faster than the pace seen before the Covid-19 pandemic.

“Faster economic growth is fantastic for creating more opportunities and more jobs,” she told the gathering.

“India is well-positioned due to its youthful, innovative population and strong public digital infrastructure, which has lowered barriers to entrepreneurship and adoption of new technologies,” she noted.

However, she also cautioned that AI poses significant risks for employment.

Nearly 40 per cent of jobs could be affected by AI. Referring to International Monetary Fund-backed studies, she said this number could shoot up to 60 per cent in advanced economies.

Entry-level and routine jobs are particularly vulnerable, she noted.

Several top tech leaders have cautioned that entry-level white-collar jobs are vulnerable in the next couple of years due to the expansion of superior AI models which can think on their own.

Georgieva also said that countries must focus on revamping education to emphasise learning how to learn and supporting workers in rapidly changing labour markets.

“When I look at the Indian economy, what bodes well is that you have undertaken deep structural reforms in tax, in labour markets — to make India more competitive, more prepared for this world of AI, in which there has to be flexibility in how you deploy skills,” she said.

India is “creating opportunities” across the board, she added. Digital public infrastructure and digital IDs (Aadhaar) are so beneficial. It is a different country – dynamic and open for economic opportunities, she added.

IANS