India’s Digital Infrastructure Success Story
Public Funding Over Private Players
Union Finance Minister Nirmala Sitharaman shared insights on India’s unique approach to building digital infrastructure using public funds. Unlike other countries that rely on private companies, India chose to invest public money, benefiting small businesses and micro-level users.
Empowering Small Businesses
Speaking at JAIN University in Bengaluru, Sitharaman explained how this public infrastructure supports various sectors like banking, health, marketing, payments, and education without charging users. This approach has enabled small businesses to expand beyond local markets.
Success Stories from Nagaland
Sitharaman highlighted the digital revolution’s impact, citing NGOs in Nagaland receiving international orders, showcasing the reach and success of India’s digital initiatives.
Open Network for Digital Commerce
The government introduced the Open Network for Digital Commerce (ONDC) to support e-commerce growth. Sitharaman emphasized the importance of digital and financial inclusion, noting the ease of access through mobile phones and the need for continuous technological updates.
Doubts Revealed
Nirmala Sitharaman -: Nirmala Sitharaman is the Finance Minister of India. She is responsible for managing the country’s finances, including the budget and economic policies.
Public-Funded Digital Infrastructure -: Public-funded digital infrastructure means using government money to build technology systems that everyone can use. This includes things like internet access, online banking, and digital education tools.
JAIN University -: JAIN University is a private university located in Bangalore, India. It offers various courses and is known for its focus on research and innovation.
Nagaland -: Nagaland is a state in the northeastern part of India. It is known for its rich culture and diverse tribes.
NGOs -: NGOs are Non-Governmental Organizations. They work independently from the government to help people and communities, often focusing on social, environmental, or humanitarian issues.
Open Network for Digital Commerce (ONDC) -: ONDC is a government initiative in India to create a digital platform for e-commerce. It aims to help small businesses sell their products online more easily.
Digital Inclusion -: Digital inclusion means making sure everyone has access to digital technology and the internet. It ensures that all people, regardless of their background, can benefit from digital advancements.
