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

Purpose: This research seeks to examine how disruptive technologies affect the Indian economy, emphasizing their influence on different sectors and socioeconomic aspects in developing nations. Method: The study employs a mixed-method approach, combining quantitative data from surveys and statistical analysis with qualitative insights from interviews and case studies. It scrutinizes various disruptive technologies like artificial intelligence, blockchain, and the Internet of Things, assessing their adoption rates and impacts on different segments of the Indian economy. Result and Conclusion: The investigation highlights substantial effects of disruptive technologies on the Indian economy, including enhanced efficiency, productivity, and market competitiveness across sectors. However, challenges such as job displacement, digital disparity, and regulatory issues are also identified. While disruptive technologies hold potential to reshape India's economic landscape, strategic planning and policy interventions are crucial to maximize benefits and manage risks. Implication of the Research: The study's findings carry implications for policymakers, business leaders, and stakeholders in the Indian economy. Understanding the dynamics of disruptive technologies can aid in crafting policies that stimulate innovation, entrepreneurship, and inclusive development. Additionally, businesses can use these insights to adapt strategies, bolster technological capabilities, and capitalize on emerging opportunities in the digital economy. Originality/Value: This research contributes uniquely by focusing on the impact of disruptive technologies within the context of developing nations like India. By addressing the specific challenges and opportunities encountered by such economies, it offers valuable insights into the socioeconomic consequences of technological disruptions. Moreover, the mixed-method approach employed enriches understanding and provides practical implications for academia, industry, and policymaking.