Under Nilekani’s 'Digital' Lens—The Success Of India Stack

India’s digital landscape in the past decade has dramatically changed with the nation’s push for digital-first initiatives. The country has seen various programs including the mammoth project of Aadhaar aimed at giving Indians a digital identity, UPI transforming how the majority of India transacts and other digital public infrastructure goods that have democratised the use of technology. 

Behind the workings of many of these projects has been Nandan Nilekani, the Co-founder of Infosys, who in his second innings, after his successful corporate career has worked on using technology at a mass scale. The success stories of many of the projects he has honed have earned him the unofficial title of Chief Technology Officer of India.

Aadhaar 

Aadhaar today is the world’s largest biometric ID system, with over 138.04 crore people in India having an Aadhaar number. Enabling digital identity verification, enhancing service delivery, decreasing fraud, and advancing financial inclusion have all been made possible by the program. It has been an essential instrument in increasing financial inclusion, especially for those living in rural and isolated locations, where the absence of traditional identity documents had previously prevented them from opening bank accounts and accessing financial services.

Aadhar has also helped facilitate the Direct Benefit Transfer (DBT) program, which guarantees that government subsidies like those for food, LPG, and scholarships are put straight into recipients' bank accounts. It has also simplified the provision of a number of government services, boosting transparency and lowering the possibility of fraud by doing away with "ghost beneficiaries."

Unified Payments Interface

In January 2025, Unified Payments Interface (UPI) transactions reached a new milestone, surpassing 16.99 billion transactions and a total value of over Rs 23.48 lakh crore, marking the highest figures ever recorded in a single month, as per finance ministry data. The monthly and yearly UPI transaction numbers have risen with a linear upward trajectory. 

The 2023–24 fiscal year saw a notable expansion of the digital payments market, with UPI—which accounts for 80% of retail transactions in India—continuing to lead the country's digital payment ecosystem. Over 131 billion UPI transactions were made in FY24, totaling more than Rs 200 lakh crore in value. As of January, more than 80 UPI apps (bank apps and third-party application providers), 641 banks are currently live on the UPI ecosystem, according to the finance ministry. 

UPI is also expanding globally, supporting cross-border transactions for Indian travelers. It is now operational in over seven countries, including key markets like the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.

Account Aggregator Framework

The Account Aggregator framework has been growing in market adoption across banking, securities, insurance, and pension sectors. The AA ecosystem has surpassed 100 million consents on the AA framework, with three years of formation, with about 80-90 million Indians using the system in the country, according to Sahamati, the industry alliance for AA. 

The Department of Financial Services has noted that 112 financial institutions have gone live both as Financial Information Provider (FIP) and Financial Information User (FIU), 56 financial institutions have gone live as FIP, and 410 financial institutions have gone live as FIU. Further, more than 2.2 billion financial accounts are enabled to share data on AA, and over 112.34 million users have linked their accounts on the AA framework.

Open Network For Digital Commerce

Since its inception, ONDC has worked towards creating a level playing field for sellers, buyers, and service providers across India, particularly small and medium enterprises (MSMEs). ONDC is now live in 616 cities, with 239 network participants, 7.75 lakh service providers, and has recorded 14.4 million orders, according to the government. 

On ONDC, the Department of Food and Public Distribution, Government of India launched a pilot to on-board the Fair Price Shops (FPSs) in Una and Hamirpur districts of Himachal Pradesh. The ONDC network started with two categories (F&B and Grocery) and expanded to numerous other categories such as Mobility, Fashion, Beauty and Personal Care, Home & Kitchen, Electronics and Appliances, Health & Wellness and B2B.

Along with Aadhaar, UPI, and AA framework, other digital public goods such as eKYC, Immediate Payment Service and Digilocker, monikered as India Stack, which Nandan Nilekani has honed and promoted, have seen increased adoption.

Looking ahead, Nilekani on Wednesday will be spilling the beans on what he thinks are the "big unlocks" needed to increase India's growth to become an $8 trillion economy by 2035, at an event in Bengaluru.