The estimated growth in value of the Indian digital economy to $1 trillion by 2020 as stated by Prime Minister, Narendra Modi at the BRICS Business Forum recently is a resounding testimony to the vision of the PM, when the country took the first baby steps towards digitization and there were some sceptics who harboured doubts about its growth, said FKCCI in a press release.
“Among the many measures to encourage small businesses and people to go digital in their operations, the technology-based financial inclusion adopted at a national scale emerged as the initial spoke in the wheel of change,” said CA I.S. Prasad, president, FKCCI, and lauded the PM for bringing about the kind of digital transformation that is unsurpassed even at the global level.
Recalling that barely 3-4 years ago, there was a perception that people in rural areas especially hawkers and small retailers would not be tech savvy enough to embrace digitization as they are late adapters to technology, he pointed out that today it is commonplace and routine to expect such people to make and receive payments using QR code and such other digital practices.
