India’s digital public infrastructure GDP contribution to triple by 2030’
- India’s digital public infrastructure (DPI) will play a key role in the country’s aspiration to become a $1 trillion digital economy and an $8 trillion economy thereof by 2030.
- According to the report, matured DPI such as Aadhaar, United Payments Interface (UPI), Goods and Services Tax Network (GSTN) and FASTag enabled value creation to the tune of $31.8 billion in 2022, accounting for 0.9% of the country’s GDP.
- “DPI’s success has positioned India as a global leader in digital innovation, aiming to influence nations globally, promising equitable access to technology for all and fostering economic growth,”
- In 2022, Aadhaar enabled economic value creation of $15.2 billion, primarily through the elimination of direct benefits transfer leakages. Meanwhile UPI replaced cash transactions and electronic transfers across sectors, contributing $16.2 billion.
- The transformation of matured and budding DPIs through innovative technology integration such as artificial intelligence, Web3 and metaverse, presents significant opportunities.
- Key challenges in their mass adoption include lack of interconnectedness among various stakeholders, lack of real time data availability, limited language expansion for users to access in preferred languages and future partnerships beyond government service
