India’s Digital Infrastructure Earns Global Recognition, Says External Affairs Minister Jaishankar

Minister of External Affairs, S Jaishankar, applauded India’s remarkable progress in cashless payments and digital infrastructure. Speaking at a public meeting in Sambalpur, Jaishankar highlighted the country’s remarkable strides on the global stage and emphasized India’s identity as a leader in digital innovation, with up to 12 billion cashless transactions conducted monthly.

Jaishankar, while addressing the gathering, revealed significant statistics. He stating, “Every month, Indians conduct 10-12 billion cashless transactions, a feat unmatched by many nations.” He alo pressed on the transformative impact of digitalization and noted how mobile payments have become an integral part of the daily lives of millions of people across the nation.

Reflecting on India’s economic approach, Jaishankar remarked, “India has emerged as one of the top five economies globally, a remarkable turnaround from a decade ago when concerns loomed over the country’s economic prospects.” He went on to express confidence in India’s consistent progress in the the digital sphere on the global stage. He also emphasised that India was set to secure the position of the third-largest economy in the near future.

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Jaishankar Refered to the predictions made by the International Monetary Fund (IMF) and emphasized that India had a pivotal role in shaping global economic development. “The IMF forecasts India’s significant contribution to global growth over the next two decades, underscoring the strength of India’s structural foundation,” he stated, highlighting the nation’s potential to drive economic prosperity on a global scale.

In the aftermath of the COVID-19 pandemic, Jaishankar lauded India’s resilient economic performance, noting its distinguished position among major economies. “While many nations struggle to recover from the economic fallout of the pandemic, India stands out as the only major economy to achieve a 7 per cent growth rate,” he asserted, underscoring India’s resilience and capacity for sustained growth amidst global challenges.