India’s GVA to Reach $9.82 Tn by 2035, Says PwC
India’s economic activity is projected to nearly triple over the next decade, with gross value added (GVA) expected to surge from approximately $3.39 trillion in 2023 to $9.82 trillion by 2035. A report by PwC India, titled Navigating the Value Shift, highlights a transformative shift from traditional sector-based businesses to domain-led models aligned with core human and societal needs.
The report identifies nine key domains—how we live, move, care, build, and power societies—as engines for accelerated economic value creation. In the manufacturing and industrial “Make” domain alone, GVA is anticipated to grow from $945 billion in 2023 to nearly $2.7 trillion by 2035. Experts attribute this evolution to converging forces such as climate change imperatives, demographic shifts, and rapid digital disruptions.
This domain-driven approach encourages cross-sector collaboration, enabling industries like construction, healthcare, logistics, and renewable energy to innovate through integrated solutions. PwC cautions that achieving this vision will require policy support, investment in infrastructure (aligned with initiatives like PM Gati Shakti), skill development, and robust public-private partnerships.
Sanjeev Krishan, Chairman of PwC India, noted that grassroots innovation is already underway: 40 percent of Indian CEOs surveyed in PwC’s 2025 India CEO Survey reported entry into at least one new sector in the past five years—half of which are now generating up to 20 percent of their revenues from these ventures.
To support a $9.82 trillion economy by 2035—translating to an annual GVA Compound Annual Growth Rate (CAGR) of around 9.3 percent—India will need sustained reforms in taxation, trade, and ease of doing business, as well as accelerated infrastructure deployment. The report suggests that domain-led value creation could significantly bolster efforts to become a $5 trillion GDP economy and move closer to a $20 trillion milestone by 2040.
If realized, this ambitious growth trajectory would reinforce India’s position as a global economic powerhouse, complementing its efforts to deepen trade ties, expand manufacturing, and boost exports. The PwC framework offers actionable guidance for policymakers, investors, and businesses looking to leverage transformative market shifts and emerging societal needs.
