Stacking up the Benefits: Lessons from India’s Digital Journey

Stacking up the Benefits: Lessons from India’s Digital Journey
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Volume/Issue: Volume 2023 Issue 078
Publication date: March 2023
ISBN: 9798400240416
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Economics / General , Digitalization , digital payments , digital ID , govtech

Summary

Foundational digital public infrastructure (DPI), consisting of unique digital identification, payments system and data exchange layer has the potential to support the transformation of the economy and support inclusive growth. India’s foundational DPI, called India Stack, has been harnessed to foster innovation and competition, expand markets, close gaps in financial inclusion, boost government revenue collection and improve public expenditure efficiency. India’s journey in developing a world-class DPI highlights powerful lessons for other countries embarking on their own digital transformation, in particular a design approach that focuses on shared building blocks and supporting innovation across the ecosystem.