When annualised, this is equivalent to 0.6 per cent of the GDP, 15 per cent of the GDP impact of the IT industry and 25 per cent of the textile industry in India both key industries in India, said the report titled, "Ascent to the Cloud: How Six Key APAC Economies can Lift-off."
According to the report, the business efficiencies and growth resulting from Public Cloud deployments also have the potential to lead to up to 240,000 jobs and impact another 743,000 jobs through second order effects from 2019 to 2023.
"Traditional retailers are expanding into e-commerce to capture digital and omnichannel revenue growth and they're turning to the public cloud to help them scale up quickly and handle peak loads during special sales like Diwali," said Rick Harshman, Managing Director of Google Cloud in Asia Pacific.
"Access to Cloud-based smart data analytics solutions also enables our retailer customers to become more customer-centric and data-driven so they can optimise their spend across channels, plan inventory and manage their supply chains," Harshman added.
The study entailed discussions with experts and senior stakeholders across industry verticals and a survey of over 1,000 IT decision makers across the Asia Pacific region including India.
Sectors surveyed included digital native businesses and internet start-ups, banking and financial services, retail, media and gaming, public sector and manufacturing.
"India's digital-native businesses and media and entertainment companies are the biggest drivers of Public Cloud adoption," the findings showed.
Retail and consumer goods players are also increasingly exploring opportunities to digitise and develop capabilities in Artificial Intelligence and Machine Learning enabled by the Public Cloud.
The study found that manufacturers and financial institutions on the other hand are still in the early stages of Public Cloud adoption.
"This was due in part to the perceived complexity of migrating legacy data and evolving government regulations around data and security," said the report.
Of the 240,000 direct jobs, around 157,000 will be in digital and technology-related roles such as data scientists, product managers, engineering, design, user experience and infrastructure management jobs with cloud service providers, IT service providers and across industry verticals.
Another 83,000 direct roles will be related to core business functions (marketing, finance, operations etc.) across industry verticals.
"We're working with higher education institutions and customers to train cloud-native engineers at an aggressive rate and broadening access to training and certification to help groom a pool of cloud-ready talent to help Indian businesses grow and scale with the cloud," said Harshman.
( With inputs from IANS )