According to a joint report by nasscom and Arthur D Little, digital public infrastructure (DPIs) are poised to propel India towards a $1 trillion digital economy by 2030, helping the country to become a $8 trillion economy.
The report noted that by 2030, DPIs will significantly enhance citizens’ efficiency and promote social as well as financial inclusion. Mature DPIs such as Aadhaar, unified payments interface (UPI), and FASTag have witnessed exponential adoption so far, the next seven to eight years offer an opportunity for further scalability, reaching even the most remote segments of the population.
As per the report, India’s massive economic transformation has been powered by DPIs that have facilitated the development of necessary government services and platforms, and these in turn have powered market innovations in both public and private sectors, and enabled creation of inclusive ecosystem.
The report added that India is currently the global leader in developing DPIs, using it to implement widespread adoption of digital payments, data-sharing infrastructures, bolstering domestic businesses and spurred entrepreneurship in the country. This has been due to the support by the government, the information technology (IT) intellectual capital and startup ecosystem, a combination which has made DPI a success.
The report further added that existing digital entities will evolve to deliver superior user experience, utilising new age tech of artificial intelligence (AI), web 3.0 and others. Furthermore, Aadhaar is expected to continue to be a major contributor as use cases expand to broader range of services.
