Business EconomyPosted at: Oct 17 2026 4:12PM


AI revolution to reshape economy, drive next decade’s growth: Shibulal

Bengaluru, Oct 17 (UNI) The artificial intelligence revolution could unleash unprecedented economic growth over the next decade, transforming industries and creating new opportunities for businesses, Infosys co-founder S D Shibulal said on Saturday, while cautioning that India’s startup ecosystem, despite its rapid expansion, still accounts for only one per cent of the country’s GDP.
Addressing a workshop on “Building a Viksit Bharat Through Strategic Investments” at the Invest India Summit organised by the Institute of Company Secretaries of India (ICSI) here, Shibulal said the growing adoption of AI, expanding digital infrastructure and rising capital investment had created favourable conditions for India’s next phase of economic expansion.
“Last year, 89 per cent of startups were launched with an AI focus, while 4,200 deep-tech startups relied on AI technologies,” he said, underlining how deeply the technology had penetrated the startup ecosystem.
Yet, the relatively small contribution of startups to GDP highlighted the distance between technological promise and their current economic footprint. Startups were expected to play a much bigger role in the years ahead, he said.
Shibulal, who is also co-founder of Axilor and Chairman of Innovation Investment Management, pointed to the expansion of digital infrastructure, manufacturing and capital investment as key pillars supporting the country's growth ambitions.
India’s capital investment had increased 16-fold over the past decade, while the Micro, Small and Medium Enterprises (MSME) sector contributed around 30 per cent to GDP, he said.
The country’s manufacturing performance, defence production capabilities and rapid digitalisation were also creating fresh opportunities for businesses. The widespread adoption of digital payments, with around 800 million UPI-based transactions recorded daily, reflected the scale of India’s digital transformation, he added.
The surge in data consumption and improvements in connectivity over the past two decades had fundamentally changed the way businesses operated, making it possible to run companies remotely and opening up new avenues for entrepreneurship.
However, translating these advantages into sustained economic growth would require more than technological adoption and investment. Strong corporate governance, transparency and accountability were equally essential, Shibulal said.
“Good governance builds trust,” he said, stressing that companies must maintain high standards of governance and use mechanisms such as mediation to resolve disputes.
Effective governance and efficient functioning would help strengthen investor confidence and support India's ambition of becoming a developed nation by 2047, he added.
Earlier, inaugurating the workshop, Shibulal released a commemorative publication brought out by ICSI.
ICSI Bengaluru Chapter Chairman CS Vishwas Hegde said the summit was organised to explore suitable investment opportunities towards building a Viksit Bharat. Good governance and transparency would play a crucial role in supporting corporate growth, while investment guidelines issued by ICSI would help companies, he said.
ICSI Bengaluru Chapter Secretary CS Ashish Mohan, former chapter chairperson CS Devika Satyanarayan, ICSI Deputy Director Noor Sumayya and others were present.
UNI BDN
Tags: #AI revolution to reshape economy# drive next decade’s growth: Shibulal
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