New Delhi, March 26 -- India is currently one of the fastest-growing large economies in the world, but staying on top requires a massive technological leap. At the sixth edition of Transform, the Siemens Innovation Day held in Mumbai on March 6, the numbers told a compelling story. To reach a $30 trillion economy by 2047, India must increase its manufacturing share of the Gross Domestic Product (GDP) from 15 per cent to 25 per cent. This jump alone requires $1.5 trillion in capital expenditure, a scale of investment that is rarely seen globally.

"Not too many countries around the world plan to spend $1.5 trillion on manufacturing," said Sunil Mathur, MD & CEO, Siemens India, during his welcome address at the event. Mathur highlighted tha...