The G20 Global Partnership for Financial Inclusion (GPFI), in a document drafted by the World Bank, has commended India's remarkable progress in Digital Public Infrastructure (DPI) during the tenure of Prime Minister Narendra Modi's government. India is actively advocating for DPI to be a significant focus at the upcoming G20 summit in New Delhi.
DPI encompasses essential digital services and technologies that enable countries to efficiently deliver economic opportunities and social services to all residents securely. The World Bank document underscores India's achievement in a mere six years, which would typically take around five decades.
Over the past decade, India has developed one of the world's largest digital Government-To-Person (G2P) systems utilizing DPI. This approach has facilitated transfers totaling approximately $361 billion directly to beneficiaries through 312 key schemes across 53 central government ministries. As of March 2022, this initiative had generated savings of $33 billion, equivalent to nearly 1.14 percent of the GDP, the document highlights.
In May 2023, India recorded over 9.41 billion UPI transactions, with a cumulative value of approximately ₹14.89 trillion. The total value of UPI transactions for the fiscal year 2022-23 amounted to nearly 50 percent of India's nominal GDP.
The G20 Leaders' Summit is scheduled for September 9-10 in New Delhi, with participation from over 30 heads of state and government, high-ranking European Union officials, and invited guest countries. Fourteen heads of international organizations are also expected to attend.
Rajeev Chandrasekhar, the Union Minister of State for Electronics and Information Technology, emphasized the government's commitment to infuse technology into governance since 2014. He affirmed the government's ongoing efforts to digitalize all public services.
During the G20 summit in New Delhi, India intends to highlight the significance of DPI, a topic that has taken center stage during its G20 presidency. India's utilization of technology, under Prime Minister Narendra Modi's leadership, to revolutionize governance and improve the lives of its citizens has garnered international attention.
Furthermore, India is advocating for the Global South's representation at the G20 summit. The country is advocating for increased inclusion of developing nations in the G20 process and is pushing for the African Union to become a permanent member.
Prime Minister Modi has been an outspoken advocate for granting the African Union full membership in the G20, as demonstrated by his letter to the leaders of G20 nations in June, urging them to consider this at the upcoming summit in New Delhi.