India, May 14 -- Artificial Intelligence (AI) has the potential to contribute over $500 billion (about Rs 47.81 lakh crore) to India's economy by 2030, according to a new joint study by IBM and IndiaAI, a MeiTY initiative.

The report, titled "From Promise to Power: How AI Is Redefining India's Economic Future", surveyed 1,500 Indian executives from a range of industries and organisations, covering various leadership levels, including CXOs. The study was supplemented by a pulse survey of 405 Indian executives.

The report revealed that 80 per cent of Indian business leaders surveyed believe AI investments will directly influence the nation's GDP growth.

"AI could contribute more than $500 billion to India's economy by 2030, positioning t...