India 2030


Currently the Indian Healthcare Industry is valued at USD 135 bn and is expected to grow at a CAGR of 17% to reach USD 353 bn by 2025. Under Aatmanirbhar Bharat Abhiyaan, the government has approved Production-Linked (PLI) Schemes of INR 15,000 crores to encourage domestic manufacturing of pharmaceuticals and medical devices. The scheme is estimated to generate exports worth INR 1.96 lakh crores over the next 6 years.

Oil & Gas

By 2040, India’s crude oil consumption is expected to grow at a CAGR of 3.6% to reach 500 mn tons from 222 mn tons in 2017. As a result, India’s oil demand is estimated to double from 5.1 mn bpd in 2020 to 10 mn bpd in 2030. Natural Gas consumption is also projected to grow at a CAGR of 4.2% to reach 143.1 mn tons by 2040 from 58.1 mn tons in 2018.

Tripling of gas demand in next 25 years

As per British Petroleum (BP) Energy Outlook 2018, India’s natural gas consumption will rise and almost triple by 2040 and will be the largest growth market for global energy

Digital spending

India’s digital spending market has gained traction in the past few years and is expected to grow at 10x by 2030 to reach USD ~30 bn from USD 3 bn in 2020.


Exports will account for 40% of the gross domestic product (GDP), which is expected to touch USD 5 trillion by in the coming years.

Digital transactions

India’s digital economy to grow to $1 trillion by 2022. Through credit and debit cards, the unified payments interface (UPI), unstructured supplementary service data (USSD), prepaid payment instruments (PPIs) and internet

Air Passenger Traffic

India’s air passenger traffic is expected to double by 2030 as compared to that of its pre-pandemic level in 2019. By 2040, 2,200 new commercial aircrafts will be needed to cater this demand.

Data usage per smartphone

In India, average data usage per smartphone per month is ~14.6 GB which is the second highest in the world. By 2026, the consumption is expected to rise 3x to 40 GB and have 830 mn 4G subscribers from 680 mn in 2020.


By 2030, India will have the largest population in the world, in the higher education age bracket. Increasing urbanization and income levels will drive demand for higher education. Rapid industrialization would require a gross incremental workforce of ~250 mn by 2030; India could potentially emerge as a global supplier of skilled manpower.


The logistics costs in India are significantly higher when compared to other countries, 13% of GDP as opposed to 7-8% of the GDP in developed countries. The government has plans to reduce this to 10% of the GDP. Investment in the logistics sector is expected to reach USD 500 bn annually by 2025.

Organized Retail

Organised retail is expected to grow at 24%, a higher rate than overall Indian retail sector. India is expected to boost the share of organised retail from 8% of total retail in 2012 to 30% in 2024 and 50% in 2034. New technologies such as virtual walls and mirrors will further help improve the retail customer experience, thereby encouraging greater consumption


India’s per capita power consumption has been rising since past few years and currently it is at ~1208 kWh. However, it is way below the global average of ~3,260 kWh. India currently aims to install 500 GW of renewable energy capacity, including large hydro, by 2030, which will be dominated by solar power with a share of ~300 GW.

Food and Water Distribution

Increased urbanization and Irrigation needs are already putting enough pressure today due to ineffective distribution mechanisms which possess a huge opportunity in commodity distribution network

Vishrut Pathak – Partner

Vishrut Pathak is an MBA from St. John’s University, with specialisation in International Finance and has a PGD from New York university in Financial Statement Analysis. He was Vice President at HNW Inc. for 6 years where he worked with leading institutional clients like Lord Abbett Merrill Lynch, CitiBank and Morgan Stanley. Prior to HNW Inc, he worked as a senior analyst for a growing Buyout firm in New York in hospitality industry (IT Hospitality Inc.). After working for 10 years with various financial firms in New York, he founded “Pi Square Investments” in Jan 2011. He has over 20 years of Investment Management and corporate finance experience and also Mentors at EDII (Entrepreneurship Development Institute of India) under CrAdLE platform.