The Indian government recently announced that several nations are now adopting India’s groundbreaking Digital Public Infrastructure (DPI), which has revolutionized digital services and financial transactions within the country.
At the forefront of this transformation is Aadhaar, the world’s largest biometric and demographic-based digital identity program.
To date, Aadhaar has issued an impressive 138.04 crore IDs, significantly contributing to the digital landscape.
The DigiLocker platform has also played a pivotal role, providing over 30 crore users with access to 675 crore documents. Jitin Prasada, Minister of State for Electronic and IT, highlighted the success of the unified payments interface (UPI), which processed a staggering 1,388 crore financial transactions in just June.
In addition, India has formalized cooperation agreements with ten countries to share its successful digital solutions.
The nations involved include Armenia, Sierra Leone, Suriname, Antigua and Barbuda, Papua New Guinea, Trinidad and Tobago, Tanzania, Kenya, Cuba, and Colombia.
These agreements aim to replicate India’s digital successes on a global scale.
The development of India Stack Global and the Global DPI Repository (GDPIR) portal under the Indian G20 Presidency in 2023 is a testament to India’s commitment to global digital innovation.
These initiatives are designed to share India’s digital expertise with other nations and facilitate the adoption of similar solutions worldwide.
In parallel with these international developments, a recent report from the Reserve Bank of India (RBI) has revealed a 12.6 percent year-on-year increase in digital payments within the country.
The RBI’s Digital Payments Index (RBI-DPI) rose to 445.5 by the end of March 2024, up from 418.77 in September 2023 and 395.57 in March 2023, underscoring the growing adoption and impact of digital financial solutions in India.
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