A report by Nasscom has highlighted the role of Digital Public Infrastructure (DPIs) such as UPI and Aadhaar in propelling India towards a $8 trillion economy by 2030. According to the report, these DPIs are set to help the country achieve a $1 trillion digital economy target, impacting approximately 1.3 billion citizens.
The matured DPIs, including UPI and Aadhaar, have enabled a value creation of $31.8 billion, equivalent to 0.9 per cent of India’s GDP in 2022. Aadhaar has enabled an economic value of $15.2 billion, while UPI has contributed $16.2 billion by replacing cash transactions and electronic transfers across sectors.
Nasscom President Debjani Ghosh stated, “India’s digital transformation, propelled by DPIs, marks a leap towards a digitally-empowered economy, a cornerstone of ‘techade’, driving the ‘India@47′ growth narrative. DPI’s success has positioned India as a global leader in digital innovation.”
The report also highlighted the ecologically beneficial impact of DPI adoption, including significant paper savings and reduction in carbon emissions. It further mentioned that DPIs align with core UN SDG goals by providing citizen-centric solutions.
The report emphasized that the next 7-8 years offer an opportunity for further scalability of DPIs, reaching even the most remote segments of the population, and that by 2030, DPIs will significantly enhance citizens’ efficiency and promote social and financial inclusion.
It was also mentioned in the report that to realize the 2030 DPI potential, government agencies need to continue to give proactive policy support, regulatory clarity, and promote existing digital ecosystems by setting up task forces to drive adoption and foster innovation through partnerships with corporates and startups.
The report also called for startups and SMEs to build business models that capitalize on the full-scale adoption of existing digital infrastructure and experiment with new-age technologies, while corporates and Big Tech should anticipate future digital demand, build necessary infrastructure and foster innovation. This highlights the need for continued collaboration and innovation in the digital space to fully realize the potential of DPIs.
In conclusion, the report by Nasscom in collaboration with global consulting firm Arthur D. Little provides an in-depth analysis of the impact of DPIs on India’s digital economy, highlighting their potential to drive the country towards becoming a global leader in digital innovation and propel economic growth.
