Choose Report Type
Publication Date
Report Upload
Download
(11.13 MB)
vertical
Research & Networking
PDF Text
January 2026 NITIसंधान
January 2026
• From Intent to Impact: A Compendium of Good Practices on Gender Parity at
Workplace
• Internationalisation of Higher Education in India Report
• Deepening the Corporate Bond Market in India
• Roadmap for Transforming India into a Leading Quantum-Powered Economy
• Water Budgeting in Aspirational Blocks
• India’s Services Sector: Insights from GVA Trends and State-Level Dynamics
• India’s Services Sector: Insights from Employment Trends and State-Level
Dynamics
• Coal Gasification Technology for Indian High Ash Content Coal
• India’s Blue Economy: Strategy for Harnessing Deep Sea and
Offshore Fisheries
• Compendium on All-Weather Tap Water Supply in the Higher
Reaches of the Himalayas
• Roadmap for Job Creation in the AI Economy
• Roadmap on AI for Inclusive Societal Development
• Trade Watch- Quarterly (January - March [Q4] FY25)
• UK-India Infrastructure Financing Bridge_Year 1 Report
Quarterly newsletter by Research and Networking (R&N) Division of NITI Aayog
Artificial Intelligence is poised to become a
defining force in shaping India’s economic and
social transformation. This edition of NITIसंधान
foregrounds this imperative through the
‘Roadmap for Job Creation in the AI Economy’
and the ‘Roadmap on AI for Inclusive Societal
Development,’ which together articulate a
comprehensive vision for harnessing AI as a
catalyst for productivity, employment, and inclusion.
The AI roadmaps underscore both the scale of opportunity and the
urgency of coordinated action. They outline pathways to mitigate
workforce disruption through large-scale reskilling, bridge critical
talent gaps, and position India as a global hub for AI research and
innovation. Equally, they emphasise the use of AI to empower informal
workers, improve service delivery, and enable inclusive growth through
human-centric digital public infrastructure.
Complemented by research across services, finance, infrastructure,
and sustainability, this edition of NITIसंधान reflects NITI Aayog’s
commitment to evidence-based policymaking. Through the
dissemination of actionable insights and collaborative engagement,
we seek to advance India’s journey towards a resilient, future-ready,
and inclusive economy in alignment with Viksit Bharat @2047.
Shri B.V.R. Subrahmanyam
CEO, NITI Aayog
India’s journey towards sustained
and inclusive growth will be shaped
by how effectively it mobilises long-
term capital and harnesses the
transformative power of the services
sector. This edition of NITIसंधान reflects
these twin imperatives through the UK–
India Infrastructure Financing Bridge: Year 1 report, alongside
in-depth analyses of India’s services sector that track Gross
Value Added and employment trends across states.
The UK–India report emphasises the need for innovative
financing architectures, deal-centric project preparation, and
infrastructure development aligned with global benchmarks of
governance, transparency, and sustainability. Complementing
this, the services sector studies capture the sector’s
emergence as India’s foremost driver of growth, propelled by
productivity gains, digital transformation, and growing regional
convergence.
Collectively, these perspectives point to the importance
of integrated policy frameworks that reinforce institutional
capacity, deepen financial markets, and embed services
within vibrant local economies. I trust this edition will stimulate
constructive engagement and advance shared efforts
towards the vision of Viksit Bharat @2047.
Shri Suman Bery
Vice Chairperson, NITI Aayog
Scan this QR to access
previous editions of
NITIसंधान
Message from
Vice ChairpersonFrom the desk of CEO
About Research and Networking
(R&N) Division
NITI Spotlight: Ideas, Impact, Insights
AI by HER: Global Impact Challenge
In 2024, NITI Aayog established a dedicated Research
& Networking (R&N) Division to strengthen and
streamline its policy research efforts by developing a
robust pipeline of high-impact research studies. The
division also fosters partnerships with premier think-
tanks and relevant divisions of NITI to build a resource
network and enhance collaboration across the policy
ecosystem. It further plays a key role in evolving a
multi-pronged dissemination strategy, ensuring
that findings are shared widely through newsletters,
reports, and policy briefs, so that knowledge becomes
accessible, actionable, and aligned with national
priorities. Through this mechanism, the R&N Division
positions NITI Aayog as both a facilitator of research
excellence and an enabler of meaningful national
and international partnerships.
Ms Anna Roy
(Programme Director, R&N Division, NITI Aayog)
E-mail at pdresearch-niti@gov.in
AI by HER: Global Impact Challenge, organised by the Women
Entrepreneurship Platform and the IndiaAI Mission ahead of the AI
Impact Summit, aims to strengthen women’s participation in the AI
ecosystem through global innovation, mentorship, and capacity-
building initiatives. Of the 792 applications received, 419 eligible
teams were interviewed by expert panels, leading to the shortlisting
of 30 teams for the bootcamp scheduled on 16–17 February.
Research Publications this Quarter
Scan this QR to
know more about
AI by HER Initiative
Scan this QR
to access NITI
Publications
Edited by: Ms Chaheti Singh Sisodia (Young Professional, R&N Division, NITI Aayog)
Email: chahetisingh.s@niti.gov.in January 2026 January 2026
India needs to deepen the
Corporate Bond Market for
Viksit Bharat
Pravakar Sahoo
Programme Director, Economics
and Finance-I Division
I
ndia’s aspiration to become a developed economy under the vision of Viksit
Bharat @ 2047 requires a financial system capable of mobilising long-term, low-
cost capital at scale. While banks remain central to credit delivery, they alone
cannot meet the expanding financing needs of infrastructure, industry, climate
transition, and emerging sectors. In this context, a deep, liquid, and diversified
corporate bond market is essential to complement bank lending, reduce systemic
concentration risks, improve monetary policy transmission, and strengthen overall
financial stability. The NITI Aayog’s report, ‘Deepening Corporate Bond Market in
India’, offers a comprehensive assessment of India’s corporate bond ecosystem,
tracing the market’s evolution, analysing its size and composition, and detailing the
key measures undertaken by regulatory authorities to support its development. It
also analyses the benefits of market-based debt financing, and maps the structural,
regulatory, and institutional constraints that limit depth and liquidity. The report
presents a comparative analysis with global markets and provides a phase-wise
reform roadmap to deepen the market.
Landscape of India’s Corporate
Bond Market
India’s corporate bond market has expanded
steadily over the past decade, with outstanding
bonds rising from about ₹17.5 trillion in FY2015 to
Voice of our
Researchers
over ₹53 trillion by FY2025, registering an annual growth of nearly 12%. The outstanding
market accounts for around ~16 % of GDP. Over the last 10 years, the representation of
corporate bonds in the overall outstanding of bonds has been consistent between 21%
to 25% (Fig 1). However, the size of the non-financial bond market accounts for only
~2-3% of GDP.
Despite this progress, India’s corporate bond
market remains modest in size compared to
international peers, well below levels observed
in countries such as South Korea (79% of GDP),
Malaysia (54%), Thailand (27%), and China (38%).
The reasons for the development of corporate
bond markets in some of these countries include
unified regulation and streamlined disclosures,
strong market infrastructure, active market-
making, and deep secondary markets, which
together enhance liquidity, investor diversity,
and financing depth.
Challenges
India’s corporate bond market continues to
face several structural challenges, including
fragmented regulatory processes, relatively
high issuance and compliance costs, and
a largely risk-averse investor base that
prefers higher-rated bonds. Secondary-
market liquidity remains limited, supported
by modest market-making and still-evolving
risk-management and credit-enhancement
frameworks, while procedural and recovery-related inefficiencies add to frictions. As a result, the market remains concentrated
among highly rated issuers and private placements, with relatively lower participation from MSMEs, retail investors, and foreign
investors, thereby constraining its capacity to support long-term and inclusive financing needs fully.
Recommendations and Way Forward
The report highlights that unlocking the bond market’s full potential requires a sequenced and sustained
reform strategy implemented in phases. In the short term, the focus is on streamlining regulations, improving
inter-regulatory coordination and legal clarity, strengthening market infrastructure, easing issuer access,
and expanding investor participation to reduce frictions and build confidence. Over the medium to long
term, deeper structural and institutional reforms will support a unified regulatory architecture, scalable
digital infrastructure, broader issuer and product diversification, and greater domestic and foreign investor
participation. Together, these phased reforms aim to provide a roadmap to make India’s corporate bond
market globally competitive, resilient, and inclusive, positioning it as a key pillar of the financial system and
a driver of long-term growth towards Viksit Bharat @2047.
Scan this QR to
access the full
report
Vietnam January 2026 Trade Watch- Quarterly
(January - March [Q4] FY25)From Intent to Impact: A Compendium of Good
Practices on Gender Parity at Workplace
Report on Internationalisation of Higher Education in India: Prospects, Potential and Policy Recommendations
Economics and Finance-I Division
Global trade expanded by approximately
1.5% in Jan-March 2025, driven primarily by
price increases, as trade volume rose by
only around 1%. Trade between developed
countries outpaced that of developing
economies, reversing the recent trade in
favour of developing countries.
India’s merchandise and services trade
performance continued to remain steady
between April-March 2024-25. During this period, total trade
reached $1731 billion, marking a y-o-y growth of approximately
6%. Both exports and imports also grew by around 6% each,
with exports reaching $823 billion and imports at $908 billion
during April–March 2025.
Women & Child Development Division
In collaboration with the CII Centre for Women
Leadership, NITI Aayog has launched a
compendium highlighting successful practices
for gender parity in Indian workplaces. This
initiative directly supports the Viksit Bharat
@2047 vision, which recognises women not
just as beneficiaries of progress, but as the
principal architects of India’s economic and
social transformation.
To reach India’s $30 trillion economic goal, an estimated
145 million women must enter the workforce by 2047. The
compendium adopts a lifecycle approach that supports women
across every stage of their professional journey. It highlights
inclusive recruitment practices such as blind screening and
gender-neutral job descriptions, workplace policies that enable
retention, such as childcare and caregiving support, and
structured pathways for mentorship and leadership development.
Through these initiatives,
organisations can move
from intent to measurable
impact. Ultimately,
transitioning to women-led
development is a strategic
economic necessity for
sustainable national growth.
Building a gender-
equal workplace is like
constructing a bridge: it
requires a strong foundation
of policy, steady pillars of
institutional support, and a clear, wide path that allows everyone
to cross into leadership roles.
Education Division
As India advances toward Viksit Bharat@2047, the internationalisation of higher education is emerging as a pivotal force for shaping
human capital and global leadership. Drawing inspiration from its ancient legacy of world-class learning centres like Nalanda and
Takshashila, India aims to re-establish itself as a premier global higher education and research hub.
Central to this vision is ‘internationalisation at home,’ a priority under the National Education Policy (NEP) 2020. This strategy seeks
to embed global curricula, faculty exchanges, and international research partnerships within leading Indian Higher Education
Institutions (HEIs), particularly Top 100 NIRF-ranked institutions. By democratizing access to international standards, students can
experience global ecosystems without necessarily leaving the country for long durations.
The regulatory landscape has been reinforced by UGC guidelines regarding international branch campuses and academic
collaborations, providing a strong foundation for this transformation. A comprehensive study involving 160 HEIs and experts from
16 countries has produced 22 policy recommendations and 76 action pathways to guide this journey. To fulfil this vision, the report
suggests flagship initiatives like talent attraction programmes and cross-border research partnerships. Data-driven projections
indicate that international student enrolment in India could reach between 7.89 lakhs and 11 lakhs by 2047.
By aligning with international benchmarks
while remaining rooted in Bharatiya
values, India is poised to enhance
domestic innovation and employability.
Ultimately, this transformation will enable
the nation to reclaim its historic position
as a Vishwa Guru, leading the world
through knowledge, research, innovation,
and entrepreneurship. Internationalising
higher education is
like grafting a high-
yield global variety
onto a strong native
rootstock: it combines
international
excellence with local
resilience to produce
a harvest of world-
class and world-
ready talent.
Trade performance in Apr-Mar FY25
Scan this QR to
access the full
report
Scan this QR to
access the full
report
Scan this QR to
access the full
report
January 2026 January 2026 Roadmap for Transforming India into a Leading Quantum-Powered Economy
Frontier Tech Hub Initiative
The NITI Frontier Tech Hub has unveiled a strategic roadmap to
transform India into a premier quantum-powered economy by
2035. This blueprint, essential to the Viksit Bharat@2047 vision, seeks
to harness quantum mechanics to multiply national productivity
and secure strategic sovereignty. By 2035, these technologies are
projected to unlock USD 1–2 trillion in value across sectors such as
precision healthcare, finance, and logistics.
India’s ambition is to rank among the top three global quantum
economies. The roadmap sets bold targets: capturing over 50%
of the global quantum software market and incubating at least
10 startups with revenues surpassing USD 100 million. India’s core
advantage is its human capital, featuring 91,000 STEM graduates
and the world’s second-largest base of active quantum users.
To bridge critical gaps, including heavy reliance on imported
peripherals and a lower Ease of Doing Science (EoDS), the
sources recommend expanding the scientific workforce tenfold
by 2028 and streamlining research procurement. Furthermore,
policy interventions are urged to prevent ‘flipping,’ where deep-
tech startups redomicile abroad, to ensure intellectual property
remains in India.
Ultimately, the roadmap calls for ‘Quantum Atmanirbharta,’
positioning India as a net exporter of full-stack
solutions and a leader in global standard-
setting. Immediate, coordinated action across
government and industry is vital to ensure India
leads this technological wave from the outset.
The quantum race is like building a high-speed
rail network: while the tracks (hardware) are
essential, India’s greatest opportunity lies in
designing the sophisticated navigation systems
and services (software) that will move the entire
world forward.
Scan this QR to
access the full
report
Water Budgeting in Aspirational Blocks
Water and Land Resources Division
NITI Aayog, in partnership with GIZ India, has released a landmark
report aligning with the Prime Minister's Water Vision @ 2047. This
initiative addresses the urgent need for a scientific, proactive
approach to water management amidst pressures from
population growth, economic development, and climate change.
At the heart of this strategy is Varuni, an automated web-based
application designed to bridge the gap between water demand
and supply. The application systematically accounts for water
requirements across irrigation (the largest consumer at 80–90%
in rural areas), human consumption, livestock, and industry. On the
supply side, it evaluates local surface water sources, groundwater
availability via the IN-GRES portal, rainwater runoff, and inter-block
water transfers.
The project was piloted across 18 Aspirational Blocks covering all
agro-climatic zones in India. The assessment revealed a complex
landscape: some blocks, such as Kukarmunda in Gujarat, show
risky over-dependence on groundwater (96%) despite nearby
reservoirs, while blocks like Fatehpur underutilise surface resources.
These insights allow for region-specific interventions, such as
salinity management in coastal areas, groundwater recharge in
Bundelkhand, or spring protection in the Himalayas.
By scaling this localised approach, NITI Aayog aims to empower
local bodies with the tools needed for
informed decision-making and climate
resilience. Mainstreaming water budgeting
through people’s participation will be the
backbone of ensuring equitable access
and safeguarding India’s water future.
Water budgeting is like a financial ledger for
nature: by precisely tracking every drop that
enters and leaves a region, we ensure our
‘natural capital’ is spent wisely to sustain
future generations.
Scan this QR to
access the full
report January 2026 India’s Services Sector: Insights from GVA Trends and State-Level Dynamics
India’s Services Sector: Insights from Employment Trends and State-Level Dynamics
Services and Economic Intelligence Unit Division
India is undergoing a distinctive services-led structural
transformation, diverging from traditional economic sequences
by transitioning early and robustly into a service-oriented
economy. In 2024-25, the services sector contributed nearly 55%
of India’s Gross Value Added (GVA), consolidating its position as
the nation's primary engine of growth, exports, and resilience.
Sub-sectoral analysis reveals a ‘dual structure’ where high-
productivity, tradable activities coexist with traditional, labour-
intensive segments. Computer and information services have
seen the most significant expansion, growing nearly fourfold
since 2011-12. While growth was initially concentrated in mature
service economies like Maharashtra, Karnataka, and Telangana,
the report identifies a significant trend of beta convergence.
This indicates that structurally lagging states are growing their
service base more rapidly, suggesting that this transformation is
becoming more spatially inclusive.
To achieve the Viksit Bharat @2047 vision, where services output
could potentially reach USD 15–16 trillion, the report introduces
a strategic mapping of sub-sectors into Engines of Growth,
Emerging Stars, Mature Giants, and Struggling Segments. This
roadmap is anchored by three ‘policy unlocks’: establishing core
digital and institutional infrastructure, embedding services within
local industrial ecosystems through targeted
skilling, and scaling decentralised innovation.
By modernising traditional sectors with digital
infusion, India aims to lead the world through a
resilient and competitive knowledge economy.
The services sector is like a modern power grid:
while traditional lines provide essential local
stability, the new high-voltage digital circuits
connect every corner of the country to global
opportunities.
Scan this QR to
access the full
report
Services and Economic Intelligence Unit Division
India’s services sector has emerged as a central pillar of economic
growth, contributing over half of the national Gross Value Added
(GVA) while employing approximately 188 million workers. However, a
significant paradox remains: while services dominate economic output,
they account for less than one-third of total employment, which is often
characterised by informality and low wages.
The latest findings indicate that the sector added 40 million jobs over
the last six years, with post-COVID employment elasticity rising to 0.63,
highlighting its role as a vital labour shock absorber. Despite this, a deep
structural divide persists. High-value segments such as IT, finance, and
healthcare are globally competitive and productivity-rich but remain
limited in scale. Conversely, traditional services like trade and transport
continue to anchor the workforce but face slowing job creation and
high informality.
Critical gaps also exist in spatial and gender inclusion. Services remain
heavily urban-concentrated, with over 60% of urban workers employed
in the sector compared to less than 20% in rural areas. Rural women
are particularly excluded, with only 10.5% participation in services
compared to 60% of their urban counterparts. Furthermore, 87% of
service workers lack social security, highlighting pervasive informality
even within salaried roles.
To realise the Viksit Bharat @2047 vision, the
sources outline four “policy unlocks”: accelerating
formalisation, bridging gender and rural gaps,
leveraging technology like AI, and fostering balanced
regional growth through Tier 2 and Tier 3 city hubs.
Transforming the services sector is like upgrading a
city’s power grid: it is not just about adding more lines,
but ensuring the voltage is high enough to power
every home—urban and rural—while providing the
safety of modern insulation for every worker.
Scan this QR to
access the full
report
January 2026 January 2026 Coal Gasification Technology for Indian High
Ash Content Coal
India's Blue Economy: Strategy for
Harnessing Deep Sea and Offshore
Fisheries
Energy Division
NITI Aayog hosted a landmark workshop on September 2, 2025,
to accelerate India’s goal of achieving 100 million tonnes per
annum (MTPA) of coal gasification by 2030. Chaired by Dr V.K.
Saraswat, the event addressed technical hurdles presented
by the high ash content (30-45%) of indigenous coal. Experts
debunked myths regarding Indian coal’s unsuitability,
identifying Fluidised-Bed Gasification as the
most effective technology for handling local
feedstock variability.
Significant indigenous progress was
highlighted, including IIT Delhi’s successful
methanol production and BHEL’s
development of large-scale gasifiers.
To de-risk projects, the government has
allocated ₹8,500 crore in Viability Gap
Funding (VGF) and offered revenue rebates.
The workshop concluded with a powerful
call for the industry to evolve from importing designs to
becoming confident indigenous technology developers. By
fostering a collaborative ecosystem, India aims to ensure
energy security and transition toward a self-reliant energy
sector.
Agriculture Technology Division
India’s fisheries sector has emerged as a critical ‘sunrise
sector,’ growing at an impressive 9% annually and
contributing significantly to the national economy. With a
coastline of 11,098 km and an Exclusive Economic Zone (EEZ)
exceeding 2 million sq. km, India holds an
untapped deep-sea potential estimated
at 7.16 million tonnes. High-value species
such as tuna, billfish, and deep-sea
shrimp offer immense opportunities for
economic expansion and job creation for
over 30 million people.
Scan this QR to
access the full
report
Scan this QR to
access the full
report
To harness this potential, the sources outline a three-
phase roadmap towards global leadership. Phase 1
(2025-28) focuses on foundational reforms, including
enacting comprehensive legislation for the 12-200
nmi zone and modernising infrastructure like fishing
harbours and cold chains. Phase 2 (2029-32) aims at
scaling operations through advanced fleet induction
and cooperative ownership models to achieve global
competitiveness. Finally, Phase 3 (2033 onwards)
concentrates on high-value product development and
establishing leadership in sustainable management
practices.
The sources identify critical gaps in infrastructure,
technology, and financing that must be addressed to
manage high operational costs. Key recommendations
include implementing satellite-based Vessel Monitoring
Systems (VMS), providing targeted incentives for green
technologies, and fostering public-private partnerships.
By aligning these efforts with SDG 14 (Life Below Water),
India aims to ensure long-term ecological balance while
empowering traditional fishing communities through
inclusive growth. January 2026 Compendium on All-Weather Tap Water
Supply in the Higher Reaches of the
Himalayas
Roadmap for Job Creation in the AI Economy
Water and Land Resources Division
NITI Aayog has released a compendium detailing strategies
to ensure year-round water security in India’s most
challenging terrains. The Himalayan region faces severe
obstacles, including sub-zero temperatures that freeze
pipelines, rugged topography, and the depletion of natural
springs exacerbated by climate change and glacial retreat.
The sources highlight a necessary shift toward integrating
traditional knowledge with modern technology. In regions
like Ladakh and the Lahaul Valley, indigenous water
management systems such as zings and kuhls are being
augmented by antifreeze infrastructure, including nitrile
tube insulation, heat trace cables, and solar-powered
pumping systems to maintain flow during harsh winters.
Additionally, the application of AI, IoT, and Machine Learning
is revolutionising water management through real-time
monitoring of quality and automated pipeline inspections
via drones.
A central pillar of this initiative is springshed
management, which addresses water
scarcity by focusing on aquifer recharge
and sustainable land use. Through the
Jal Jeevan Mission (JJM) and regional
programs like Himachal Pradesh’s WASCA-
II, the government is driving cross-sectoral
convergence to provide safe drinking
water directly to doorsteps. Ultimately,
the compendium underscores that success depends on
community involvement, empowering local groups to take
ownership of infrastructure maintenance and governance,
thereby ensuring ecological balance and social resilience
for high-altitude populations.
Frontier Tech Hub Initiative
India’s tech services sector, strategically vital to the economy, employing 13% of the total workforce and over 30% of the white-collar
talent, stands on the frontline of AI disruption. By 2031, the industry could face a loss of 1.5 million jobs or, through proactive action,
create up to 4 million new opportunities.
The roadmap utilises a ‘Work-Worker-Workforce’ framework to analyse AI’s impact. While AI-driven productivity gains of 10–60% may
render routine roles like L1 help desk engineers and junior QA testers redundant, it is spawning three tiers of new roles: Enterprise AI (e.g.,
Ethical AI Specialists), Frontier AI (e.g., Quantum ML Engineers), and AI-for-AI (advanced research scientists).
Addressing current challenges is vital, as India currently faces a 50% supply-demand gap for AI talent and a net negative migration
of researchers. To counter this, the report proposes a unified ‘India AI Talent Mission’ to replace siloed initiatives with a coordinated
national strategy.
This mission rests on three core pillars:
embedding AI fluency throughout the
education system, becoming a global
talent magnet by offering attractive grants
and dedicated AI Talent
Visas to reverse the brain
drain, and launching a
massive reskilling engine
for the current workforce.
Furthermore, the
roadmap emphasises the
need for an India Open-
Source AI Commons and
a federated national
compute grid to provide
the infrastructure required for indigenous
innovation. By 2035, India aims to be the
global epicentre of AI talent, transforming
disruption into a generational opportunity.
Scan this QR to
access the full
report
Scan this QR to
access the full
report
January 2026 January 2026 Roadmap on AI for Inclusive Societal
Development
UK-India Infrastructure Financing
Bridge_Year 1 Report
Frontier Tech Hub Initiative
NITI Aayog has unveiled a strategic roadmap to empower
India’s 490 million informal workers through Mission Digital
ShramSetu. As a cornerstone of the Viksit Bharat 2047 vision,
this national mission leverages AI, blockchain, and IoT to
dismantle systemic barriers like trust deficits and low digital
literacy.
By 2035, the roadmap envisions a
transformative shift where verifiable digital
credentials offer economic credibility and
voice-first AI assistants provide universal
service access. Innovations like smart
contracts will guarantee transparent,
milestone-based payments, while robotics
and wearable safety gear enhance
productivity for trades such as construction
and farming.
To achieve a target per capita income
of $14,500 by 2047, the mission proposes a multi-layered
governance structure to coordinate industry, government,
and academia. This human-centric approach ensures that
India's ‘economic heartbeat’ transitions from the margins to
become a catalyst for inclusive, high-income growth.
Scan this QR to
access the full
report
Economics & Finance-II Division
NITI Aayog and the City of London Corporation have
released the Year 1 Report for the UK-India Infrastructure
Financing Bridge (UKIIFB). This partnership aims to bridge
India’s $4.5 trillion infrastructure gap by 2030 by matching
national projects with global capital and UK expertise.
The report advocates for a strategic shift toward ‘deal-
centric’ thinking, prioritising long-term value and robust
risk management over mere upfront costs. A major
milestone is the Project Assessment Framework (PAF),
which aligns Indian project preparation
with international standards in sectors like
highways and rapid transit. To enhance
bankability, the roadmap emphasises
embedding ESG standards, leveraging
Digital Public Infrastructure (DPI) for
transparency, and mitigating foreign
exchange risks.
By fostering relationships with UK sponsors
and supporting mid-tier firms, India seeks
to create a competitive, transparent, and
world-class investment destination.
Scan this QR to
access the full
report
Working Papers this Quarter
• Public RD Institutes in India: Opportunities for
Multisectoral and Systemic Integration
• Policy Perspectives for a Developed Haryana: A Three-
Dimensional Framework
• International Student Mobility: A Global and Indian
Temporal Overview
• NITI Tax Policy Working Paper
Series-II: Towards India’s Tax
Transformation: Decriminalisation
and Trust-Based Governance
• NITI Tax Policy Working Paper
Series-I: Enhancing Certainty,
Transparency and Uniformity
in Permanent Establishment
and Profit Attribution for Foreign
Investors in India
Scan this QR to
access all NITI
Working Papers
January 2026
• From Intent to Impact: A Compendium of Good Practices on Gender Parity at
Workplace
• Internationalisation of Higher Education in India Report
• Deepening the Corporate Bond Market in India
• Roadmap for Transforming India into a Leading Quantum-Powered Economy
• Water Budgeting in Aspirational Blocks
• India’s Services Sector: Insights from GVA Trends and State-Level Dynamics
• India’s Services Sector: Insights from Employment Trends and State-Level
Dynamics
• Coal Gasification Technology for Indian High Ash Content Coal
• India’s Blue Economy: Strategy for Harnessing Deep Sea and
Offshore Fisheries
• Compendium on All-Weather Tap Water Supply in the Higher
Reaches of the Himalayas
• Roadmap for Job Creation in the AI Economy
• Roadmap on AI for Inclusive Societal Development
• Trade Watch- Quarterly (January - March [Q4] FY25)
• UK-India Infrastructure Financing Bridge_Year 1 Report
Quarterly newsletter by Research and Networking (R&N) Division of NITI Aayog
Artificial Intelligence is poised to become a
defining force in shaping India’s economic and
social transformation. This edition of NITIसंधान
foregrounds this imperative through the
‘Roadmap for Job Creation in the AI Economy’
and the ‘Roadmap on AI for Inclusive Societal
Development,’ which together articulate a
comprehensive vision for harnessing AI as a
catalyst for productivity, employment, and inclusion.
The AI roadmaps underscore both the scale of opportunity and the
urgency of coordinated action. They outline pathways to mitigate
workforce disruption through large-scale reskilling, bridge critical
talent gaps, and position India as a global hub for AI research and
innovation. Equally, they emphasise the use of AI to empower informal
workers, improve service delivery, and enable inclusive growth through
human-centric digital public infrastructure.
Complemented by research across services, finance, infrastructure,
and sustainability, this edition of NITIसंधान reflects NITI Aayog’s
commitment to evidence-based policymaking. Through the
dissemination of actionable insights and collaborative engagement,
we seek to advance India’s journey towards a resilient, future-ready,
and inclusive economy in alignment with Viksit Bharat @2047.
Shri B.V.R. Subrahmanyam
CEO, NITI Aayog
India’s journey towards sustained
and inclusive growth will be shaped
by how effectively it mobilises long-
term capital and harnesses the
transformative power of the services
sector. This edition of NITIसंधान reflects
these twin imperatives through the UK–
India Infrastructure Financing Bridge: Year 1 report, alongside
in-depth analyses of India’s services sector that track Gross
Value Added and employment trends across states.
The UK–India report emphasises the need for innovative
financing architectures, deal-centric project preparation, and
infrastructure development aligned with global benchmarks of
governance, transparency, and sustainability. Complementing
this, the services sector studies capture the sector’s
emergence as India’s foremost driver of growth, propelled by
productivity gains, digital transformation, and growing regional
convergence.
Collectively, these perspectives point to the importance
of integrated policy frameworks that reinforce institutional
capacity, deepen financial markets, and embed services
within vibrant local economies. I trust this edition will stimulate
constructive engagement and advance shared efforts
towards the vision of Viksit Bharat @2047.
Shri Suman Bery
Vice Chairperson, NITI Aayog
Scan this QR to access
previous editions of
NITIसंधान
Message from
Vice ChairpersonFrom the desk of CEO
About Research and Networking
(R&N) Division
NITI Spotlight: Ideas, Impact, Insights
AI by HER: Global Impact Challenge
In 2024, NITI Aayog established a dedicated Research
& Networking (R&N) Division to strengthen and
streamline its policy research efforts by developing a
robust pipeline of high-impact research studies. The
division also fosters partnerships with premier think-
tanks and relevant divisions of NITI to build a resource
network and enhance collaboration across the policy
ecosystem. It further plays a key role in evolving a
multi-pronged dissemination strategy, ensuring
that findings are shared widely through newsletters,
reports, and policy briefs, so that knowledge becomes
accessible, actionable, and aligned with national
priorities. Through this mechanism, the R&N Division
positions NITI Aayog as both a facilitator of research
excellence and an enabler of meaningful national
and international partnerships.
Ms Anna Roy
(Programme Director, R&N Division, NITI Aayog)
E-mail at pdresearch-niti@gov.in
AI by HER: Global Impact Challenge, organised by the Women
Entrepreneurship Platform and the IndiaAI Mission ahead of the AI
Impact Summit, aims to strengthen women’s participation in the AI
ecosystem through global innovation, mentorship, and capacity-
building initiatives. Of the 792 applications received, 419 eligible
teams were interviewed by expert panels, leading to the shortlisting
of 30 teams for the bootcamp scheduled on 16–17 February.
Research Publications this Quarter
Scan this QR to
know more about
AI by HER Initiative
Scan this QR
to access NITI
Publications
Edited by: Ms Chaheti Singh Sisodia (Young Professional, R&N Division, NITI Aayog)
Email: chahetisingh.s@niti.gov.in January 2026 January 2026
India needs to deepen the
Corporate Bond Market for
Viksit Bharat
Pravakar Sahoo
Programme Director, Economics
and Finance-I Division
I
ndia’s aspiration to become a developed economy under the vision of Viksit
Bharat @ 2047 requires a financial system capable of mobilising long-term, low-
cost capital at scale. While banks remain central to credit delivery, they alone
cannot meet the expanding financing needs of infrastructure, industry, climate
transition, and emerging sectors. In this context, a deep, liquid, and diversified
corporate bond market is essential to complement bank lending, reduce systemic
concentration risks, improve monetary policy transmission, and strengthen overall
financial stability. The NITI Aayog’s report, ‘Deepening Corporate Bond Market in
India’, offers a comprehensive assessment of India’s corporate bond ecosystem,
tracing the market’s evolution, analysing its size and composition, and detailing the
key measures undertaken by regulatory authorities to support its development. It
also analyses the benefits of market-based debt financing, and maps the structural,
regulatory, and institutional constraints that limit depth and liquidity. The report
presents a comparative analysis with global markets and provides a phase-wise
reform roadmap to deepen the market.
Landscape of India’s Corporate
Bond Market
India’s corporate bond market has expanded
steadily over the past decade, with outstanding
bonds rising from about ₹17.5 trillion in FY2015 to
Voice of our
Researchers
over ₹53 trillion by FY2025, registering an annual growth of nearly 12%. The outstanding
market accounts for around ~16 % of GDP. Over the last 10 years, the representation of
corporate bonds in the overall outstanding of bonds has been consistent between 21%
to 25% (Fig 1). However, the size of the non-financial bond market accounts for only
~2-3% of GDP.
Despite this progress, India’s corporate bond
market remains modest in size compared to
international peers, well below levels observed
in countries such as South Korea (79% of GDP),
Malaysia (54%), Thailand (27%), and China (38%).
The reasons for the development of corporate
bond markets in some of these countries include
unified regulation and streamlined disclosures,
strong market infrastructure, active market-
making, and deep secondary markets, which
together enhance liquidity, investor diversity,
and financing depth.
Challenges
India’s corporate bond market continues to
face several structural challenges, including
fragmented regulatory processes, relatively
high issuance and compliance costs, and
a largely risk-averse investor base that
prefers higher-rated bonds. Secondary-
market liquidity remains limited, supported
by modest market-making and still-evolving
risk-management and credit-enhancement
frameworks, while procedural and recovery-related inefficiencies add to frictions. As a result, the market remains concentrated
among highly rated issuers and private placements, with relatively lower participation from MSMEs, retail investors, and foreign
investors, thereby constraining its capacity to support long-term and inclusive financing needs fully.
Recommendations and Way Forward
The report highlights that unlocking the bond market’s full potential requires a sequenced and sustained
reform strategy implemented in phases. In the short term, the focus is on streamlining regulations, improving
inter-regulatory coordination and legal clarity, strengthening market infrastructure, easing issuer access,
and expanding investor participation to reduce frictions and build confidence. Over the medium to long
term, deeper structural and institutional reforms will support a unified regulatory architecture, scalable
digital infrastructure, broader issuer and product diversification, and greater domestic and foreign investor
participation. Together, these phased reforms aim to provide a roadmap to make India’s corporate bond
market globally competitive, resilient, and inclusive, positioning it as a key pillar of the financial system and
a driver of long-term growth towards Viksit Bharat @2047.
Scan this QR to
access the full
report
Vietnam January 2026 Trade Watch- Quarterly
(January - March [Q4] FY25)From Intent to Impact: A Compendium of Good
Practices on Gender Parity at Workplace
Report on Internationalisation of Higher Education in India: Prospects, Potential and Policy Recommendations
Economics and Finance-I Division
Global trade expanded by approximately
1.5% in Jan-March 2025, driven primarily by
price increases, as trade volume rose by
only around 1%. Trade between developed
countries outpaced that of developing
economies, reversing the recent trade in
favour of developing countries.
India’s merchandise and services trade
performance continued to remain steady
between April-March 2024-25. During this period, total trade
reached $1731 billion, marking a y-o-y growth of approximately
6%. Both exports and imports also grew by around 6% each,
with exports reaching $823 billion and imports at $908 billion
during April–March 2025.
Women & Child Development Division
In collaboration with the CII Centre for Women
Leadership, NITI Aayog has launched a
compendium highlighting successful practices
for gender parity in Indian workplaces. This
initiative directly supports the Viksit Bharat
@2047 vision, which recognises women not
just as beneficiaries of progress, but as the
principal architects of India’s economic and
social transformation.
To reach India’s $30 trillion economic goal, an estimated
145 million women must enter the workforce by 2047. The
compendium adopts a lifecycle approach that supports women
across every stage of their professional journey. It highlights
inclusive recruitment practices such as blind screening and
gender-neutral job descriptions, workplace policies that enable
retention, such as childcare and caregiving support, and
structured pathways for mentorship and leadership development.
Through these initiatives,
organisations can move
from intent to measurable
impact. Ultimately,
transitioning to women-led
development is a strategic
economic necessity for
sustainable national growth.
Building a gender-
equal workplace is like
constructing a bridge: it
requires a strong foundation
of policy, steady pillars of
institutional support, and a clear, wide path that allows everyone
to cross into leadership roles.
Education Division
As India advances toward Viksit Bharat@2047, the internationalisation of higher education is emerging as a pivotal force for shaping
human capital and global leadership. Drawing inspiration from its ancient legacy of world-class learning centres like Nalanda and
Takshashila, India aims to re-establish itself as a premier global higher education and research hub.
Central to this vision is ‘internationalisation at home,’ a priority under the National Education Policy (NEP) 2020. This strategy seeks
to embed global curricula, faculty exchanges, and international research partnerships within leading Indian Higher Education
Institutions (HEIs), particularly Top 100 NIRF-ranked institutions. By democratizing access to international standards, students can
experience global ecosystems without necessarily leaving the country for long durations.
The regulatory landscape has been reinforced by UGC guidelines regarding international branch campuses and academic
collaborations, providing a strong foundation for this transformation. A comprehensive study involving 160 HEIs and experts from
16 countries has produced 22 policy recommendations and 76 action pathways to guide this journey. To fulfil this vision, the report
suggests flagship initiatives like talent attraction programmes and cross-border research partnerships. Data-driven projections
indicate that international student enrolment in India could reach between 7.89 lakhs and 11 lakhs by 2047.
By aligning with international benchmarks
while remaining rooted in Bharatiya
values, India is poised to enhance
domestic innovation and employability.
Ultimately, this transformation will enable
the nation to reclaim its historic position
as a Vishwa Guru, leading the world
through knowledge, research, innovation,
and entrepreneurship. Internationalising
higher education is
like grafting a high-
yield global variety
onto a strong native
rootstock: it combines
international
excellence with local
resilience to produce
a harvest of world-
class and world-
ready talent.
Trade performance in Apr-Mar FY25
Scan this QR to
access the full
report
Scan this QR to
access the full
report
Scan this QR to
access the full
report
January 2026 January 2026 Roadmap for Transforming India into a Leading Quantum-Powered Economy
Frontier Tech Hub Initiative
The NITI Frontier Tech Hub has unveiled a strategic roadmap to
transform India into a premier quantum-powered economy by
2035. This blueprint, essential to the Viksit Bharat@2047 vision, seeks
to harness quantum mechanics to multiply national productivity
and secure strategic sovereignty. By 2035, these technologies are
projected to unlock USD 1–2 trillion in value across sectors such as
precision healthcare, finance, and logistics.
India’s ambition is to rank among the top three global quantum
economies. The roadmap sets bold targets: capturing over 50%
of the global quantum software market and incubating at least
10 startups with revenues surpassing USD 100 million. India’s core
advantage is its human capital, featuring 91,000 STEM graduates
and the world’s second-largest base of active quantum users.
To bridge critical gaps, including heavy reliance on imported
peripherals and a lower Ease of Doing Science (EoDS), the
sources recommend expanding the scientific workforce tenfold
by 2028 and streamlining research procurement. Furthermore,
policy interventions are urged to prevent ‘flipping,’ where deep-
tech startups redomicile abroad, to ensure intellectual property
remains in India.
Ultimately, the roadmap calls for ‘Quantum Atmanirbharta,’
positioning India as a net exporter of full-stack
solutions and a leader in global standard-
setting. Immediate, coordinated action across
government and industry is vital to ensure India
leads this technological wave from the outset.
The quantum race is like building a high-speed
rail network: while the tracks (hardware) are
essential, India’s greatest opportunity lies in
designing the sophisticated navigation systems
and services (software) that will move the entire
world forward.
Scan this QR to
access the full
report
Water Budgeting in Aspirational Blocks
Water and Land Resources Division
NITI Aayog, in partnership with GIZ India, has released a landmark
report aligning with the Prime Minister's Water Vision @ 2047. This
initiative addresses the urgent need for a scientific, proactive
approach to water management amidst pressures from
population growth, economic development, and climate change.
At the heart of this strategy is Varuni, an automated web-based
application designed to bridge the gap between water demand
and supply. The application systematically accounts for water
requirements across irrigation (the largest consumer at 80–90%
in rural areas), human consumption, livestock, and industry. On the
supply side, it evaluates local surface water sources, groundwater
availability via the IN-GRES portal, rainwater runoff, and inter-block
water transfers.
The project was piloted across 18 Aspirational Blocks covering all
agro-climatic zones in India. The assessment revealed a complex
landscape: some blocks, such as Kukarmunda in Gujarat, show
risky over-dependence on groundwater (96%) despite nearby
reservoirs, while blocks like Fatehpur underutilise surface resources.
These insights allow for region-specific interventions, such as
salinity management in coastal areas, groundwater recharge in
Bundelkhand, or spring protection in the Himalayas.
By scaling this localised approach, NITI Aayog aims to empower
local bodies with the tools needed for
informed decision-making and climate
resilience. Mainstreaming water budgeting
through people’s participation will be the
backbone of ensuring equitable access
and safeguarding India’s water future.
Water budgeting is like a financial ledger for
nature: by precisely tracking every drop that
enters and leaves a region, we ensure our
‘natural capital’ is spent wisely to sustain
future generations.
Scan this QR to
access the full
report January 2026 India’s Services Sector: Insights from GVA Trends and State-Level Dynamics
India’s Services Sector: Insights from Employment Trends and State-Level Dynamics
Services and Economic Intelligence Unit Division
India is undergoing a distinctive services-led structural
transformation, diverging from traditional economic sequences
by transitioning early and robustly into a service-oriented
economy. In 2024-25, the services sector contributed nearly 55%
of India’s Gross Value Added (GVA), consolidating its position as
the nation's primary engine of growth, exports, and resilience.
Sub-sectoral analysis reveals a ‘dual structure’ where high-
productivity, tradable activities coexist with traditional, labour-
intensive segments. Computer and information services have
seen the most significant expansion, growing nearly fourfold
since 2011-12. While growth was initially concentrated in mature
service economies like Maharashtra, Karnataka, and Telangana,
the report identifies a significant trend of beta convergence.
This indicates that structurally lagging states are growing their
service base more rapidly, suggesting that this transformation is
becoming more spatially inclusive.
To achieve the Viksit Bharat @2047 vision, where services output
could potentially reach USD 15–16 trillion, the report introduces
a strategic mapping of sub-sectors into Engines of Growth,
Emerging Stars, Mature Giants, and Struggling Segments. This
roadmap is anchored by three ‘policy unlocks’: establishing core
digital and institutional infrastructure, embedding services within
local industrial ecosystems through targeted
skilling, and scaling decentralised innovation.
By modernising traditional sectors with digital
infusion, India aims to lead the world through a
resilient and competitive knowledge economy.
The services sector is like a modern power grid:
while traditional lines provide essential local
stability, the new high-voltage digital circuits
connect every corner of the country to global
opportunities.
Scan this QR to
access the full
report
Services and Economic Intelligence Unit Division
India’s services sector has emerged as a central pillar of economic
growth, contributing over half of the national Gross Value Added
(GVA) while employing approximately 188 million workers. However, a
significant paradox remains: while services dominate economic output,
they account for less than one-third of total employment, which is often
characterised by informality and low wages.
The latest findings indicate that the sector added 40 million jobs over
the last six years, with post-COVID employment elasticity rising to 0.63,
highlighting its role as a vital labour shock absorber. Despite this, a deep
structural divide persists. High-value segments such as IT, finance, and
healthcare are globally competitive and productivity-rich but remain
limited in scale. Conversely, traditional services like trade and transport
continue to anchor the workforce but face slowing job creation and
high informality.
Critical gaps also exist in spatial and gender inclusion. Services remain
heavily urban-concentrated, with over 60% of urban workers employed
in the sector compared to less than 20% in rural areas. Rural women
are particularly excluded, with only 10.5% participation in services
compared to 60% of their urban counterparts. Furthermore, 87% of
service workers lack social security, highlighting pervasive informality
even within salaried roles.
To realise the Viksit Bharat @2047 vision, the
sources outline four “policy unlocks”: accelerating
formalisation, bridging gender and rural gaps,
leveraging technology like AI, and fostering balanced
regional growth through Tier 2 and Tier 3 city hubs.
Transforming the services sector is like upgrading a
city’s power grid: it is not just about adding more lines,
but ensuring the voltage is high enough to power
every home—urban and rural—while providing the
safety of modern insulation for every worker.
Scan this QR to
access the full
report
January 2026 January 2026 Coal Gasification Technology for Indian High
Ash Content Coal
India's Blue Economy: Strategy for
Harnessing Deep Sea and Offshore
Fisheries
Energy Division
NITI Aayog hosted a landmark workshop on September 2, 2025,
to accelerate India’s goal of achieving 100 million tonnes per
annum (MTPA) of coal gasification by 2030. Chaired by Dr V.K.
Saraswat, the event addressed technical hurdles presented
by the high ash content (30-45%) of indigenous coal. Experts
debunked myths regarding Indian coal’s unsuitability,
identifying Fluidised-Bed Gasification as the
most effective technology for handling local
feedstock variability.
Significant indigenous progress was
highlighted, including IIT Delhi’s successful
methanol production and BHEL’s
development of large-scale gasifiers.
To de-risk projects, the government has
allocated ₹8,500 crore in Viability Gap
Funding (VGF) and offered revenue rebates.
The workshop concluded with a powerful
call for the industry to evolve from importing designs to
becoming confident indigenous technology developers. By
fostering a collaborative ecosystem, India aims to ensure
energy security and transition toward a self-reliant energy
sector.
Agriculture Technology Division
India’s fisheries sector has emerged as a critical ‘sunrise
sector,’ growing at an impressive 9% annually and
contributing significantly to the national economy. With a
coastline of 11,098 km and an Exclusive Economic Zone (EEZ)
exceeding 2 million sq. km, India holds an
untapped deep-sea potential estimated
at 7.16 million tonnes. High-value species
such as tuna, billfish, and deep-sea
shrimp offer immense opportunities for
economic expansion and job creation for
over 30 million people.
Scan this QR to
access the full
report
Scan this QR to
access the full
report
To harness this potential, the sources outline a three-
phase roadmap towards global leadership. Phase 1
(2025-28) focuses on foundational reforms, including
enacting comprehensive legislation for the 12-200
nmi zone and modernising infrastructure like fishing
harbours and cold chains. Phase 2 (2029-32) aims at
scaling operations through advanced fleet induction
and cooperative ownership models to achieve global
competitiveness. Finally, Phase 3 (2033 onwards)
concentrates on high-value product development and
establishing leadership in sustainable management
practices.
The sources identify critical gaps in infrastructure,
technology, and financing that must be addressed to
manage high operational costs. Key recommendations
include implementing satellite-based Vessel Monitoring
Systems (VMS), providing targeted incentives for green
technologies, and fostering public-private partnerships.
By aligning these efforts with SDG 14 (Life Below Water),
India aims to ensure long-term ecological balance while
empowering traditional fishing communities through
inclusive growth. January 2026 Compendium on All-Weather Tap Water
Supply in the Higher Reaches of the
Himalayas
Roadmap for Job Creation in the AI Economy
Water and Land Resources Division
NITI Aayog has released a compendium detailing strategies
to ensure year-round water security in India’s most
challenging terrains. The Himalayan region faces severe
obstacles, including sub-zero temperatures that freeze
pipelines, rugged topography, and the depletion of natural
springs exacerbated by climate change and glacial retreat.
The sources highlight a necessary shift toward integrating
traditional knowledge with modern technology. In regions
like Ladakh and the Lahaul Valley, indigenous water
management systems such as zings and kuhls are being
augmented by antifreeze infrastructure, including nitrile
tube insulation, heat trace cables, and solar-powered
pumping systems to maintain flow during harsh winters.
Additionally, the application of AI, IoT, and Machine Learning
is revolutionising water management through real-time
monitoring of quality and automated pipeline inspections
via drones.
A central pillar of this initiative is springshed
management, which addresses water
scarcity by focusing on aquifer recharge
and sustainable land use. Through the
Jal Jeevan Mission (JJM) and regional
programs like Himachal Pradesh’s WASCA-
II, the government is driving cross-sectoral
convergence to provide safe drinking
water directly to doorsteps. Ultimately,
the compendium underscores that success depends on
community involvement, empowering local groups to take
ownership of infrastructure maintenance and governance,
thereby ensuring ecological balance and social resilience
for high-altitude populations.
Frontier Tech Hub Initiative
India’s tech services sector, strategically vital to the economy, employing 13% of the total workforce and over 30% of the white-collar
talent, stands on the frontline of AI disruption. By 2031, the industry could face a loss of 1.5 million jobs or, through proactive action,
create up to 4 million new opportunities.
The roadmap utilises a ‘Work-Worker-Workforce’ framework to analyse AI’s impact. While AI-driven productivity gains of 10–60% may
render routine roles like L1 help desk engineers and junior QA testers redundant, it is spawning three tiers of new roles: Enterprise AI (e.g.,
Ethical AI Specialists), Frontier AI (e.g., Quantum ML Engineers), and AI-for-AI (advanced research scientists).
Addressing current challenges is vital, as India currently faces a 50% supply-demand gap for AI talent and a net negative migration
of researchers. To counter this, the report proposes a unified ‘India AI Talent Mission’ to replace siloed initiatives with a coordinated
national strategy.
This mission rests on three core pillars:
embedding AI fluency throughout the
education system, becoming a global
talent magnet by offering attractive grants
and dedicated AI Talent
Visas to reverse the brain
drain, and launching a
massive reskilling engine
for the current workforce.
Furthermore, the
roadmap emphasises the
need for an India Open-
Source AI Commons and
a federated national
compute grid to provide
the infrastructure required for indigenous
innovation. By 2035, India aims to be the
global epicentre of AI talent, transforming
disruption into a generational opportunity.
Scan this QR to
access the full
report
Scan this QR to
access the full
report
January 2026 January 2026 Roadmap on AI for Inclusive Societal
Development
UK-India Infrastructure Financing
Bridge_Year 1 Report
Frontier Tech Hub Initiative
NITI Aayog has unveiled a strategic roadmap to empower
India’s 490 million informal workers through Mission Digital
ShramSetu. As a cornerstone of the Viksit Bharat 2047 vision,
this national mission leverages AI, blockchain, and IoT to
dismantle systemic barriers like trust deficits and low digital
literacy.
By 2035, the roadmap envisions a
transformative shift where verifiable digital
credentials offer economic credibility and
voice-first AI assistants provide universal
service access. Innovations like smart
contracts will guarantee transparent,
milestone-based payments, while robotics
and wearable safety gear enhance
productivity for trades such as construction
and farming.
To achieve a target per capita income
of $14,500 by 2047, the mission proposes a multi-layered
governance structure to coordinate industry, government,
and academia. This human-centric approach ensures that
India's ‘economic heartbeat’ transitions from the margins to
become a catalyst for inclusive, high-income growth.
Scan this QR to
access the full
report
Economics & Finance-II Division
NITI Aayog and the City of London Corporation have
released the Year 1 Report for the UK-India Infrastructure
Financing Bridge (UKIIFB). This partnership aims to bridge
India’s $4.5 trillion infrastructure gap by 2030 by matching
national projects with global capital and UK expertise.
The report advocates for a strategic shift toward ‘deal-
centric’ thinking, prioritising long-term value and robust
risk management over mere upfront costs. A major
milestone is the Project Assessment Framework (PAF),
which aligns Indian project preparation
with international standards in sectors like
highways and rapid transit. To enhance
bankability, the roadmap emphasises
embedding ESG standards, leveraging
Digital Public Infrastructure (DPI) for
transparency, and mitigating foreign
exchange risks.
By fostering relationships with UK sponsors
and supporting mid-tier firms, India seeks
to create a competitive, transparent, and
world-class investment destination.
Scan this QR to
access the full
report
Working Papers this Quarter
• Public RD Institutes in India: Opportunities for
Multisectoral and Systemic Integration
• Policy Perspectives for a Developed Haryana: A Three-
Dimensional Framework
• International Student Mobility: A Global and Indian
Temporal Overview
• NITI Tax Policy Working Paper
Series-II: Towards India’s Tax
Transformation: Decriminalisation
and Trust-Based Governance
• NITI Tax Policy Working Paper
Series-I: Enhancing Certainty,
Transparency and Uniformity
in Permanent Establishment
and Profit Attribution for Foreign
Investors in India
Scan this QR to
access all NITI
Working Papers