NEW DELHI: With Digital Public Infrastructure (DPI), the country is going from an offline, informal, low productivity, multiple set of micro-economies to a single online, formal, high-productivity mega economy, a trend that will continue over next 20 years, said Nandan Nilekani, Chairman and Co-Founder, Infosys.
Speaking at the concluding day of the three-day B20 Summit 2023, organised by the B20 India Secretariat, CII, in New Delhi, on Sunday, Nilekani said India has transformed in many ways over the last several years and digital transformation is at the heart of its economic growth.
“2016 was a seminal year, when we reached the 1 billion mark in Aadhar cards. In April 2016, the new payment system UPI was launched. In 2016, Jio was launched, and in the same year, the RBI took a decision to launch an account aggregator system,” said Nilekani.
Speaking about UPI, Nilekani said it presently stands as the world’s largest payment platform, facilitating a staggering 9.96 billion transactions each month. With a user base of 350 million, the system allows for digital payments through QR codes at approximately 50 million merchants nationwide.
“We believe this DPI approach will help in climate adaptation and mitigation. From individual cash transfers to those affected by climate change to managing the electric vehicle charging station grid, DPI is an approach that has many uses for the challenges we face,” he added.