10 years of Digital India: Made many strides in digital payments, says Narendra Modi
Narendra Modi
on Tuesday said that the country has made several achievements in the
digital payments
system, led by collective efforts of all citizens.
'India has made many strides in digital payments, powered by the collective resolve of 140 crore Indians. Sectors like health and education have also benefited from this initiative,' Modi said on social media platform X.
The comments come following the completion of a decade of ambitious
Digital India
initiative, originally launched on July 1, 2015.
"Ten years ago, Digital India began as an initiative to transform our nation into a digitally empowered and technologically advanced society," Modi said on the microblogging site.
Under the 'Digital India' umbrella program, transformation of payment systems including Unified Payments Interface or
UPI
, a real-time payment system allows users to instantly transfer money between bank accounts using a mobile device.
The UPI platform recorded 1,867.7 crore transactions worth ₹24.77 lakh crore in April 2025.
India handled 49 per cent of global real-time transactions in 2023. UPI is now live in over seven countries, boosting global digital payments and financial inclusion, as per the ACI Worldwide Report 2024.
Several other countries are also looking to adopt this platform, to facilitate instant transactions.
Following the showcase during the G-20 Summit in New Delhi, more than 12 countries wanted to implement India's
digital public infrastructure
(DPI).
The foundation of India's Digital Public Infrastructure is based on the identity layer (Aadhaar), payments layer Unified Payments Interface (UPI), and Data Empowerment and Protection Architecture (DEPA).
India has also launched Open Network for Digital Commerce (ONDC), as a part of ambition to democratize e-commerce. Under the pilot program across multiple cities, it aims to bring 30 million sellers and 10 million merchants online.
Over a period of a decade, internet connections in India increased to nearly 98 crore.
4.74 lakh 5G towers installed, covering 99.6 per cent of districts, according to the government statistics.
The number of total telephone subscribers in India increased to 1,192.03 million at the end of January 2025, the Telecom Regulator Authority of India, in its recent study said.
The digital economy contributed 11.74 per cent to the country's GDP in 2022–23 and is expected to reach 13.42 per cent in 2024–25, according to the State of India's Digital Economy Report 2024, released by the Indian Council for Research on International Economic Relations (ICRIER).
The prestigious
BharatNet
program connected as many as 2.25 lakh gram panchayats (village blocks) with high-speed internet. It has a target to offer optic fibre-based digital connectivity to more than 6 lakh villages, providing government-to-citizen (G2C) and other utility services.
Powered by innovations in artificial intelligence, cloud computing, and strong digital infrastructure, Digital India has created new opportunities, the statement added.
Ashwini Viashnaw-headed Ministry of Electronics & Information Technology (MeitY), launched two flagship initiatives --
India Semiconductor Mission
(ISM) and
IndiaAI Mission
-- to further strengthen India's leadership in Global South in line with the Viksit Bharat 2047 vision
The semiconductor mission aims to build a strong semiconductor and display ecosystem, offering the world a strong alternative to China and Taiwan.
With a ₹76,000-crore outlay, the mission supports local chip and display manufacturing. It offers up to 50 per cent support for fabs and incentives for chip design and production.
As many as six semiconductor projects worth ₹1.55 lakh crore have been approved under the initiative.
Unveiled in March 2024, the IndiaAI Mission aims to build a strong and inclusive AI ecosystem with a budget of ₹10,371.92 crore over five years. It focuses on enabling access to computing, innovation, improving datasets, funding startups, and ensuring ethical AI use.
In May this year, the national compute power crossed 34,000 GPUs, indicating a robust AI infrastructure growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
27 minutes ago
- Time of India
73% Indians lack financial guidance, sparking new solutions
As India's fintech market is projected to reach a valuation of $420 billion by 2029, a critical gap persists: only 27% of India's population is financially literate, leaving hundreds of millions to navigate complex financial decisions without trusted guidance. Addressing this crisis, airpay has launched airpay money — India's first comprehensive, free financial wellness platform designed specifically for the underserved middle class earning between ₹20,000 and ₹75,000 traditional fintech solutions that prioritize transactions or product sales, airpay money introduces a paradigm shift with its Financial Wellness Score. This proprietary assessment tool evaluates users across income stability, emergency preparedness, debt exposure, and saving behavior to deliver personalized, product-neutral financial guidance. Built for middle-income Indians, often overlooked by premium wealth platforms, airpay money is not another transactional fintech product. Instead, it's a goal-oriented guide that helps users understand where they stand financially and how to build long-term security. India's digital banking revolution, fueled by UPI's 13 billion monthly transactions (NPCI, 2024), has expanded financial access, yet long-term financial literacy remains elusive for most. A 2023 RBI report highlights that 65% of Indians lack an emergency fund , and household debt has risen 14% annually since 2018. 'Unlike transaction-focused fintech apps or those pushing product sales, airpay money prioritizes financial education and habit-building. 'We're not here to sell products, we're here to be a financial friend and mentor, guiding users toward clarity and control,' said Kunal Jhunjhunwala, Founder & CEO of airpay. The platform aims to onboard 20 million users over the next three years, targeting urban and semi-urban Indians, particularly those earning ₹20,000–₹75,000 monthly, who form the backbone of India's growing economy.' The platform specifically addresses the needs of the demographic that's driving India's consumption economy, yet historically underserved by wealth management platforms. This group, comprising over 300 million Indians, faces unique challenges: too affluent for government schemes but lacking access to premium financial advisory services. "Our research with over 150,000 users revealed that this segment doesn't need complex investment products — they need fundamental financial confidence," explained Kumar Binit, CEO of airpay Money. 'Our mission is simple: No Indian should feel hesitant when taking financial decisions towards their financial wellness journey,' added Kumar. A 2023 RBI report highlights that 65% of Indians lack an emergency fund, and household debt has risen 14% annually since 2018. airpay money bridges this gap with a trust-driven, commission-free approach, backed by insights from 150,000 early users and partnerships with trusted financial institutions. Key innovations include: Financial Health Score: Real-time assessment across four critical financial dimensionsGoal-Based Planning: From luxury purchases to children's education and retirementMulti-Language Support: Reaching users in their preferred Indian languages (coming soon)Behavioral Nudges & Habit BuildersZero Product Bias: No commissions or sales pressure—purely educational focusTailored Tools for Women, Youth, and First-jobbers Additionally, by addressing the needs of underserved segments like women and first-jobbers, airpay money taps into a growing demand for equitable financial solutions, positioning it as a game-changer that is working towards bridging gaps where it is most needed — at the foundational pillars. Beyond individual users, airpay money is developing corporate wellness partnerships to integrate financial education into employee benefit programs, recognizing that financial stress directly impacts workplace productivity. This B2B2C approach positions the platform to scale rapidly across India's organized sector. With 80% of Indian employees citing financial stress as a productivity barrier (SHRM India, 2024), these partnerships aim to integrate financial wellness into workplace culture.
NDTV
44 minutes ago
- NDTV
Trump's "Big, Beautiful Bill" Awaits Final Vote: How It Will Impact Indians
Washington: US President Donald Trump's signature tax-and-spending legislation-- " One Big, Beautiful Bill"-- is lined up for final vote over the coming hours in the House of Representatives, the lower chamber of the American Congress. The mega bill, which could define Trump's second term in the White House, has faced an uneasy passage so far. Several members of Trump's own Republican Party have sided with opposition Democrats to criticise the bill for a number of reasons, including the impact on US national debt and healthcare. Trump's sprawling legislation-- which is expected to slash social welfare programs and add an eye-watering $3 trillion to the national debt--was originally approved by the House in May. But it returned to the lower chamber for a rubber stamp after squeezing through the Senate on Tuesday by a solitary vote following several revisions. How The New Version Of The Bill Benefits India Among the revisions in the proposed legislation was a significant dilution of the provision on tax remittances to other countries, including India. In a massive relief for thousands of non-resident Indians (NRIs) and Indian professionals working in the US, who send money back home, the updated draft of the bill released on June 27 showed that the tax rate on remittances was slashed to 1 per cent, down from the 5 per cent proposed originally. The tax rate was brought down to 3.5 per cent in the House version of the bill earlier. The rule will apply to all US residents who aren't US citizens-including Green Card holders, people on temporary visas such as H-1B or H-2A and foreign students. The reduction in tax on all international money transfers will benefit nearly 45 lakh Indians living in the US, including nearly 32 lakh persons of Indian Origin. It will apply to all remittances made via cash, money orders, or cashier's checks. "There is hereby imposed on any remittance transfer a tax equal to 1 per cent of the amount of such tax imposed by this section with respect to any remittance transfer shall be paid by the sender with respect to such transfer," the updated draft of the bill states. The new draft also said that the bill will exempt remittances made from "an account held in or by a financial institution" and those "funded with a debit card or a credit card issued in the United States".
India Gazette
44 minutes ago
- India Gazette
India to elevate bilateral relationship with Ghana to
Accra [Ghana], July 3 (ANI): Prime Minister Narendra Modi on Wednesday (local time) announced that India and Ghana have agreed to elevate their bilateral relationship to the level of a 'Comprehensive Partnership,' under which both countries will also step up defence and security cooperation guided by the principle of 'Security through Solidarity,' with Modi describing India as a 'co-traveller' in the African country's journey toward 'nation-building'. The announcement came after bilateral talks between Prime Minister Modi and Ghanaian President John Mahama in Accra. The visit holds significance as it marks the first by an Indian Prime Minister to Ghana in over three decades. Prime Minister Modi announced that both leaders had agreed to deepen cooperation across multiple sectors. 'The President and I have agreed to elevate our bilateral relationship to the level of a 'Comprehensive Partnership.' India is more than just a partner; it stands as a co-traveller in Ghana's journey toward nation-building,' he said. Emphasising defence and security as a key area of engagement, Prime Minister Modi said both nations would advance their collaboration guided by a shared vision. 'In the defence and security sector, we will progress with the guiding principle of 'Security through Solidarity.' Collaboration will be strengthened in key areas such as armed forces training, maritime security, defence supply chains, and cybersecurity,' he said during the joint press briefing. He also highlighted the strong economic relationship between the two countries. 'Our bilateral trade has crossed USD 3 billion. The Indian companies have invested $2 billion in around 900 projects,' the Prime Minister noted. He described the India-Ghana partnership as one built on common principles and shared struggles for independence. 'At the heart of the India-Ghana friendship lies our shared values, common struggles, and collective aspirations for an inclusive future. The freedom struggles of our two nations have served as a source of inspiration for many others. Even today, Ghana stands as a 'Beacon of Hope' in West Africa, exemplifying the strength of a vibrant democracy and inspiring neighbouring countries,' he said. Earlier, President John Mahama welcomed Prime Minister Modi to Ghana and announced that the Indian leader would be awarded the country's highest civilian honour at a banquet later in the evening. 'Our esteemed guest, Prime Minister Narendra Modi, will be decorated with the prestigious national award of the Office of the Order of the Star of Ghana at a state banquet to be held in his honour this evening. It is a testament to the friendship that exists between the people of Ghana and India...' the Ghanaian President said. This historic visit is likely to deepen the partnership between India and Ghana, and underscores India's commitment to strengthening its engagement with Africa and Global South Partners. (ANI)
