India's digital transformation.

  1. In 1991, India faced a Balance of Payments Crisis. In 2021, we have a healthy surplus.

  2. In 2008, we were the world's most unbanked.

  3. The price of data fell exponentially and the use of smartphones grew proportionately.

  4. In 2018, India used mostly cash.

  5. India delivered 2.15 billion vaccine doses in just 2 years.

  6. India is making irreversible, non-linear changes.

    * Each change acts as input to the next

    * Leading to combinatorial innovation

  7. Each change is enabled by a new approach to solving societal problems using Digital Public Infrastructure.

  8. A digital nation needs digital infrastructure.

  9. We built up Digital Public Infrastructure layer by layer to make the India Stock.

     * Starting with a Digital Identity

     * Then spread the ability to digitally transact

     * Digital Payments are everywhere

10. FasTag + GST +eWaybill cut waiting times at borders from days to minutes.

     * These little gains can add up to a lot

     * Digilocker makes transactions paperless

11. India's DPI for financial data sharing, Account Aggregator empowers users with their own data.

12. DPIs combine the best of Public and Private provision.

      * Privacy as a default, not an add-on

      * DPIs make the government efficient

13. Domestic Investors and their autopay SIPs have kept markets afloat.

14. Only country in the world

       * Building population scale APIs and open networks to digitally transform society

       * India's IT Services laid the foundation

       * India's Startup ecosystem built on top

       * We are now a young, connected country that consumes content digitally

       * You can see the difference already

15. Startups have captured the imagination of bright minds.

       * Startup Alumni are the leading source of Startup founders

       * Causing even incumbents to rethink strategy and approach to technology

16. India is upgrading

       * From an offline, cash, informal, low productivity economy

       * To an online, cashless, formal, high productivity economy

17. The next three areas where DPGs will disrupt

       * Credit

       * Commerce

       * Logistics

18. DPGs + Startups are solving three key challenges in lending, leading to an explosion in small ticket loans.

19. DPGs (GST + eWayBill + FasTag) are creating a Single Physical Market.

20. Open Networks for Digital Commerce (ONDC) will bring millions of small retailers to the era of eCommerce.

21. Cheaper Credit, Wider Discovery and Better Logistics will commoditise the supply chain

22. AI initiatives like Bhashini will help overcome the final mile challenges.

23. India is innovating a different model for growth.

My take

Whoopee! What a run, India! Thanks PM Narendra Modi for making this possible!!

Tailpiece.

Got up a trifle before 6, the chores and was ready by a quarter to 10. The maid had come for work.

Pravin comes to fix my broadband on the landline.

A rainy day. The usual evening chores.