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Stacking up the Benefits: Lessons from India’s Digital Journey

Cristian Alonso, Tanuj Bhojwani, Emine Hanedar, Dinar Prihardini, Gerardo Uña and Kateryna Zhabska

No 2023/078, IMF Working Papers from International Monetary Fund

Abstract: Foundational digital public infrastructure (DPI), consisting of unique digital identification, payments system and data exchange layer has the potential to support the transformation of the economy and support inclusive growth. India’s foundational DPI, called India Stack, has been harnessed to foster innovation and competition, expand markets, close gaps in financial inclusion, boost government revenue collection and improve public expenditure efficiency. India’s journey in developing a world-class DPI highlights powerful lessons for other countries embarking on their own digital transformation, in particular a design approach that focuses on shared building blocks and supporting innovation across the ecosystem.

Keywords: Digitalization; digital payments; digital ID; govtech (search for similar items in EconPapers)
Pages: 50
Date: 2023-03-31
New Economics Papers: this item is included in nep-fle and nep-pay
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Citations: View citations in EconPapers (2)

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