Business News | AI-based Predictive Maintenance Can Unlock 1% GDP Opportunity for India: Industry Leaders
Get latest articles and stories on Business at LatestLY. India could unlock a 1 per cent GDP opportunity by reducing productivity losses from equipment breakdowns, unplanned downtime and inefficient asset management, with industry leaders at MRAM 2026 calling for greater adoption of AI-based predictive maintenance and digital technologies.
New Delhi [India], October 7 (ANI): India could unlock a 1 per cent GDP opportunity by reducing productivity losses from equipment breakdowns, unplanned downtime and inefficient asset management, with industry leaders at MRAM 2026 calling for greater adoption of AI-based predictive maintenance and digital technologies.
The NITI Aayog report on AI for Viksit Bharat has identified AI-based predictive maintenance, digital twins, automated substation operations and remote monitoring as key enablers for building more reliable and resilient infrastructure. The report estimates that AI could unlock an additional USD 85-100 billion in value for India's manufacturing sector by 2035.
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The case for shifting from reactive maintenance is underscored by an ABB global survey, which found that 88 per cent of Indian industrial businesses experience an unplanned outage at least once a month, compared with 69 per cent globally. The survey estimated that such outages cost a typical Indian business nearly Rs 70 lakh per hour, while 19 per cent of Indian respondents continue to rely on run-to-fail maintenance.
Amit Gupta, Division President, Motion Services, ABB India, said the findings highlight the need for industries to invest in reliability, digitalisation and a forward-looking, outcome-based approach to maintenance.
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The issue comes as India's manufacturing sector expands. According to the Economic Survey 2025-26, gross value added in the registered manufacturing sector grew 9.59 per cent in 2024-25, while industrial output increased 7.81 per cent and fixed capital grew 10.54 per cent.
Industry leaders said the increasing scale of India's manufacturing and infrastructure investment makes asset reliability a broader productivity issue. Greater use of predictive diagnostics, Industrial Internet of Things (IIoT) and digital twins can help identify potential failures before they occur, improve asset utilisation and extend equipment life.
The Indian Asset Performance Management market is estimated at USD 810.6 million in 2024 and is projected to reach USD 2.25 billion by 2033, representing a compound annual growth rate of around 12 per cent.
The economic significance extends beyond individual industrial facilities, with roads, railways, airports, ports, power plants, water systems and other infrastructure requiring large capital investments. Avoidable downtime and premature deterioration can result in productivity losses and additional capital expenditure.
Industry experts at MRAM 2026 said India needs to move beyond a focus on building new assets towards an approach centred on building, maintaining and optimising existing infrastructure to improve productivity, resilience and competitiveness. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)