Digital Public Infrastructure To Push India To $1 Trillion Digital Economy By 2030: Report
By 2030, DPIs will enhance citizens' efficiency and promote social as well as financial inclusion, the Nasscom-Arthur D. Little report said.
Digital public infrastructures are poised to propel India towards a $1 trillion digital economy by 2030, helping the country to become a $8 trillion economy, according to the Digital Public Infrastructure of India—Accelerating India’s Digital Inclusion report by Nasscom-Arthur D. Little.
By 2030, DPIs will enhance citizens' efficiency and promote social as well as financial inclusion, the report said. Mature DPIs such as Aadhaar and UPI have witnessed significant adoption by 2022. The next 7–8 years offer an opportunity for further scalability, with the possibility of reaching remote segments of the population.
India’s economic transformation has been powered by DPIs that have facilitated the development of necessary government services and platforms. These in turn have allowed market innovations in public and private sectors, and enabled creation of inclusive ecosystem.
“India leads globally in developing DPIs, driving societal transformation through inclusive digital adoption and substantial contributions to the Indian economy,” said Brajesh Singh, president, Arthur D. Little India.
“Our analysis indicates that mature DPIs have generated a value of $31.8 billion, equivalent to 0.9% of India’s GDP. By 2030, this economic value is projected to increase to approximately 2.9–4.2% of GDP, considering both direct and indirect impacts,” Singh said.
DPIs, or India Stack, have enhanced the ability to use digital technologies at population scale. India is using DPIs for adoption of digital payments and data-sharing infrastructures, which has strengthened domestic businesses and entrepreneurship. This has been supported by the government and enabled by the IT intellectual capital and startup ecosystem.
According to the report, existing digital entities will evolve to deliver improved user experience, utilising new-age technologies such as artificial intelligence and Web 3. Aadhaar is expected to continue to be a major contributor as use cases expand to broader range of services.
“DPIs hold vast potential in revolutionising the entire Indian economy and the world and paints a hopeful picture of an interconnected, open, inclusive world with infinite possibilities, empowering each and every one across the globe,” Singh said.