DPI To Transform India Towards $1 Trillion Digital Economy By CIOTechOutlook Team

DPI To Transform India Towards $1 Trillion Digital Economy

CIOTechOutlook Team | Thursday, 22 February 2024, 02:37 IST

Digital Public Infrastructures (DPIs) are ready to push India towards a $1 trillion advanced economy by 2030, assisting the country with turning into a $8 trillion economy, concurring a Nasscom-Arthur D Little report named, "Digital Public Infrastructure of India - Accelerating India’s Digital Inclusion."

By 2030, DPIs will significantly enhance citizens' efficiency and promote social as well as financial inclusion, the report said. Mature DPIs such as Aadhaar, Unified Payments Interface (UPI), and FASTag have witnessed exponential adoption so far, the next seven to eight years offer an opportunity for further scalability, reaching even the most remote segments of the population, as per ET.

Digital Public Infrastructures have fueled India's massive economic transformation by making it easier to create the necessary government services and platforms. These, in turn, have fueled market innovations in the public and private sectors and made it possible to create an inclusive ecosystem.

Brajesh Singh, president, Arthur D Little India, said, “India leads globally in developing DPIs, driving societal transformation through inclusive digital adoption and substantial contributions to the Indian economy. Our analysis indicates that mature DPIs have generated a value of $31.8 billion, equivalent to 0.9% of India’s GDP. By 2030, this economic value is projected to increase to approximately 2.9%-4.2% of GDP, considering both direct and indirect impacts.”

“DPIs hold vast potential in revolutionising the entire Indian economy and the world, and paints a hopeful picture of an interconnected, open, inclusive world with infinite possibilities, empowering each and every one across the globe,” he added.

India is as of now the worldwide forerunner in creating DPIs, utilizing it to carry out boundless reception of digital payments, information sharing foundations, supporting homegrown organizations and prodded business in the country. This has been because of the help by the public authority, the IT scholarly capital and startup environment, a blend which has made DPI a triumph.