New Delhi, Dec 17 : Generative AI (GenAI) has the potential to add a cumulative $1.2-1.5 trillion to India's gross domestic product (GDP) over the next seven years, a new report showed on Sunday.

India can potentially add $359-438 billion in the FY2029-30 alone, reflecting a 5.9-7.2 per cent increase over and above baseline GDP, according to the EY India report.

Approximately 69 per cent of the overall impact is expected to be derived from sectors such as business services (including IT, legal, consulting, outsourcing, rental of machinery and equipment, and others), financial services, education, retail, and healthcare.