Poised for higher growth: Digital India revolution is on a sound footing

Boldly embracing technology-based interventions will empower people and enable New India to attain the desired level of sustainable and inclusive growth

India is rapidly moving on the path of a digital revolution powered by a young population with a median age in the 20s, increasing broadband and internet penetration, exponential data uptake, and, most importantly, the government’s focus on digitalisation. In fact, it would not be out of place to say that in certain sectors, such as fintech, a transformation is well and truly underway with the Unified Payments Interface (UPI) processing payments worth more than $ 1 trillion–that’s 1000,000,000,000 dollars–in FY22 and crossing a significant monthly milestone of 5 billion transactions in March 2022.

The foundation is the JAM (Jan