Government Initiatives Driving Growth of Digital Ecosystem for Startups: Simplilearn

New Delhi, March 2 (IANS) Government initiatives such as ‘Digital India’ and ‘Startup India’ are fueling the growth of sectors like fintech and edtech in the digital ecosystem, as per Simplilearn co-founder, Kashyap Dalal. He highlighted the positive impact of various interventions taken by the government in the last 5-7 years.

Dalal emphasized the significant transformation brought by initiatives in the fintech sector, mentioning, “One is the entire fintech stack. We have unified payments interface (UPI), Aadhaar, KYC, online payments, and streamlining that entire piece has completely changed the face of digital transactions. That has really galvanized the space.”

In the edtech space, Dalal mentioned that the new education policy has encouraged traditional universities to offer online courses. He stated, “These universities also partner with edtech players like us. A lot of universities would partner to build out the entire business where their faculty members would be part of the pedagogy in terms of providing the teaching and learning.”

According to a Nasscom-led report last month, Digital Public Infrastructure (DPIs) such as UPI and Aadhaar are expected to propel India towards a $8 trillion economy by 2030, aiding the country in reaching a $1 trillion digital economy target. The report highlights the role of government initiatives in driving the digital ecosystem and boosting economic growth.

The government’s focus on digital transformation through initiatives like ‘Digital India’ and ‘Startup India’ is reshaping key sectors like fintech and edtech. With interventions like UPI and Aadhaar, India is poised to become a significant player in the global digital economy, as identified by experts and industry leaders like Kashyap Dalal.