India's digital public infrastructure (DPI) has significantly impacted the nation's landscape, providing 97% of the population with a digital ID and enabling direct benefit transfers (DBT) to 900 million beneficiaries. The report, a collaboration between Redseer Strategy Consultants and Infosys Chairman Nandan Nilekani, highlights the DPI's influence beyond Aadhaar and Unified Payments Interface (UPI), extending into e-commerce, gaming, fintech, banking, and MSMEs. The symbiotic relationship between DPIs and startups has added over $100 billion in value to the Indian Internet economy. The DPI landscape is diversifying with initiatives like Ayushman Bharat Health Account, DigiLocker 2.0, Open Network for Digital Commerce (ONDC), Account Aggregator (AA), and Digital Infrastructure for Knowledge Sharing (Diksha). Zero merchant discount rates for UPI have boosted its popularity in e-commerce, with emerging platforms like ONDC gaining traction in the MSME space. The report also anticipates ONDC generating a Gross Merchandise Value (GMV) of $250-300 billion by 2030 and notes a 20-25% boost in gaming monetization, contributing $27 billion to the online gaming industry.
Key Points
1. India's Digital Public Infrastructure (DPI) landscape has achieved a remarkable 97% digital ID coverage for the population, facilitated direct benefit transfers (DBT) to 900 million beneficiaries, and granted banking access to 40% of the 1.2 billion population.
2. The DPI, extending beyond Aadhaar and Unified Payments Interface (UPI), has impacted various sectors, including e-commerce, gaming, fintech, banking, and MSMEs.
3. A report by Redseer Strategy Consultants, in collaboration with Infosys Chairman Nandan Nilekani, emphasizes the DPI's influence on both governance and the private sector, notably startups.
4. The DPI has a symbiotic relationship with startups, contributing over $100 billion in value across multiple sectors of the Indian Internet economy.
5. The landscape is expanding beyond the Jan Dhan, Aadhar, Mobile (JAM) trinity, with initiatives like Ayushman Bharat Health Account, DigiLocker 2.0, Open Network for Digital Commerce (ONDC), Account Aggregator (AA), and Digital Infrastructure for Knowledge Sharing (Diksha).
6. Zero Merchant Discount Rates (MDR) availability has boosted the popularity of UPI in e-commerce, with mobility accounting for 65% of e-commerce payments, followed by foodtech at 50% and e-tailing at 35%.
7. Emerging platforms like ONDC are gaining popularity in the MSME space due to their open architecture and affordability.
8. ONDC alone could generate a Gross Merchandise Value (GMV) ranging from $250-300 billion by 2030.
9. The evolving DPI landscape has contributed to a 20-25% boost in gaming monetization, bringing in $27 billion in transaction value to the online gaming industry.
10. The comprehensive impact of India's DPI is evident across various sectors, showcasing its role in transforming the digital landscape and fostering economic growth.
(With Agency Inputs)
Read also| RBI Cautions Against Misleading Loan Waiver Ads in Recent Warning
Read also| Markets Remain Rangebound, Anticipating US Inflation Data
