India’s digital infrastructure helps achieve national goals
Published: 05:03 PM,Mar 05,2023 | EDITED : 09:03 PM,Mar 05,2023
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India’s robust digital infrastructure has emerged as a major driver to achieve multiple national goals, as long-term investment in the sector has started paying dividend in terms of savings, productivity gains and long-term gains.
India’s Chief Coordinator for G20 Presidency Harsh Vardhan Shringla addressed the ‘Knowledge & experience exchange programmes for emerging economies of the global south’ and informed the august gathering that the G20 partners endorsed the robust digital infrastructure in India and its role in achieving multiple national goals.
Shringla highlighted India’s success story in financial inclusion through digitisation in his inaugural address, which was attended by participants from over 40 countries and regional organisations from the Global South on India’s experience in financial inclusion, media reports quoting statements from Shringla said.
“The unique feature of India’s digital architecture is its open source, which is owned by public institutions and backed by the Reserve Bank of India and not by private monopolies,” he said.
He mentioned recent agreement between India and Singapore linking India’s UPI with Singapore’s Pay Now for payments across national borders as an important development to increase interoperability of financial systems in the days to come.
“In India, delivering lost-mile services to the poorest of the poor has been one of the government’s key priorities over the last seven or eight years. In recent years, we have shifted focus in our financial inclusion strategy from every household to every adult,” he added.
Shringla lauded India’s Unified Payments Interface (UPI) system an example of how digital payments in public infrastructure can allow an entire ecosystem of digital payments to flourish.
Shringla said that the G20 would focus on the most vulnerable people of the world. The robust digital public infrastructure, according to him, plays a major role in achieving multiple national goals. These include economic growth, improved innovation and competition, financial inclusion, productivity gains, financial stability, digital sovereignty, and access to services such as healthcare, credit and education.
India’s Chief Coordinator for G20 Presidency Harsh Vardhan Shringla addressed the ‘Knowledge & experience exchange programmes for emerging economies of the global south’ and informed the august gathering that the G20 partners endorsed the robust digital infrastructure in India and its role in achieving multiple national goals.
Shringla highlighted India’s success story in financial inclusion through digitisation in his inaugural address, which was attended by participants from over 40 countries and regional organisations from the Global South on India’s experience in financial inclusion, media reports quoting statements from Shringla said.
“The unique feature of India’s digital architecture is its open source, which is owned by public institutions and backed by the Reserve Bank of India and not by private monopolies,” he said.
He mentioned recent agreement between India and Singapore linking India’s UPI with Singapore’s Pay Now for payments across national borders as an important development to increase interoperability of financial systems in the days to come.
“In India, delivering lost-mile services to the poorest of the poor has been one of the government’s key priorities over the last seven or eight years. In recent years, we have shifted focus in our financial inclusion strategy from every household to every adult,” he added.
Shringla lauded India’s Unified Payments Interface (UPI) system an example of how digital payments in public infrastructure can allow an entire ecosystem of digital payments to flourish.
Shringla said that the G20 would focus on the most vulnerable people of the world. The robust digital public infrastructure, according to him, plays a major role in achieving multiple national goals. These include economic growth, improved innovation and competition, financial inclusion, productivity gains, financial stability, digital sovereignty, and access to services such as healthcare, credit and education.