India's growth story is getting strong attention after more than a decade. The overall picture is even more interesting. In terms of both the potential economic expansion and the impact, it will have on businesses in India.

In this detailed paper, we have looked at multiple factors – from digital to physical to capital to enabling frameworks – that will drive and sustain this change. The aggregate impact will be both scaling and, more importantly, value capture by Indian businesses. The signs of these are visible. Indian entrepreneurs and businesses are moving beyond traditional low-cost remote services to software products, large-scale manufacturing, product plays in fintech, healthcare, space, consumer electronics, etc.

We will continue to analyze these trends and their impact on Indian businesses. At ISB’s Center for Business Innovation, our vision is to research the trends and changes in India, the opportunities and the impact on local businesses as well as the global impact it will have.