2.4 lakh jobs by 2023: Indian economy to garner $100 million through cloud computing – Here’s what Google report says

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According to the report, manufacturers and financial institutions are still in the early stages of public cloud adoption due to the perceived complexity of migrating legacy data and evolving government regulations around data and security.

Deployment of the public cloud computing system can add around USD 100 billion to the Indian economy and generate 2.4 lakh direct jobs by 2023, a report released on Wednesday said. “Public cloud deployments in India have the potential to contribute approximately USD 100 billion in GDP (gross domestic product) cumulatively from 2019 to 2023. When annualised, this is equivalent to 0.6 per cent of GDP and 15 per cent of the GDP impact of the IT industry and 25 per cent of the textile industry in India,” the Google Cloud-BCG joint report said.

According to the report, manufacturers and financial institutions are still in the early stages of public cloud adoption due to the perceived complexity of migrating legacy data and evolving government regulations around data and security. “Traditional retailers are expanding into e-commerce to capture digital and omnichannel revenue growth, and they are turning to the public cloud to help them scale up quickly and handle peak loads during special sales like Diwali,” Google Cloud Asia Pacific managing director Rick Harshman said.

He also said that access to cloud-based smart data analytics solutions also enables retailer customers to become more customer-centric and data-driven so they can optimise their spend across channels, plan inventory and manage their supply chains. According to the report, the business efficiencies and growth resulting from public cloud deployments have the potential to generate up to 2.4 lakh jobs and impact another 7,43,000 jobs through second order effects from 2019 to 2023.

“Of the 2,40,000 direct jobs, around 1,57,000 will be in digital and technology-related roles such as data scientists, product managers, engineering, design, user experience and infrastructure management jobs with cloud service providers, IT service providers and across industry verticals,” the report said. The public cloud deployment will create another 83,000 direct roles that will be related to core business functions across industry verticals, the report said.

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