Impact of Disruptive Technologies in Developing Countries: A Study on the Indian Economy

Abstract

Purpose: This study aims to investigate the impact of disruptive technologies on the Indian economy, focusing on how these innovations influence various sectors and socioeconomic aspects within developing countries.

Method: A comprehensive analysis is conducted, utilizing a mixed-method approach. Quantitative data is gathered through surveys and statistical analysis, while qualitative insights are derived from interviews and case studies. Various disruptive technologies such as artificial intelligence, blockchain, and the Internet of Things are examined in terms of their penetration, adoption rates, and effects on different sectors of the Indian economy.

Result and Conclusion: The research reveals significant impacts of disruptive technologies on the Indian economy, including improvements in efficiency, productivity, and market competitiveness across industries. However, challenges such as job displacement, digital divide, and regulatory concerns are also identified. Overall, disruptive technologies have the potential to reshape the economic landscape of developing countries like India, but careful strategic planning and policy interventions are necessary to harness their full potential and mitigate associated risks.

Implication of the Research: The findings of this study have implications for policymakers, business leaders, and stakeholders in the Indian economy. Understanding the dynamics of disruptive technologies can inform the formulation of policies that foster innovation, entrepreneurship, and inclusive growth. Moreover, businesses can leverage these insights to adapt their strategies, enhance their technological capabilities, and seize emerging opportunities in the evolving digital economy.

Originality/Value: This research contributes to the existing literature by offering a focused analysis on the impact of disruptive technologies specifically in the context of developing countries like India. By exploring the unique challenges and opportunities faced by such economies, this study provides valuable insights into the socioeconomic implications of technological disruptions. Furthermore, the mixed-method approach adopted in this research adds depth and richness to the understanding of this complex phenomenon, offering practical implications for academia, industry, and policymaking.