Promoting a digital India

Promoting a digital India

Indian Prime Minister Narendra Modi told a gathering of business leaders in January 2017 that the country has the potential to become the world’s most digitized economy.

Speaking at India’s biggest investor summit, organized in his home state of Gujarat, the 65-year-old said his government was strongly committed to continue reforming the Indian economy.

“We are working to adopt and absorb newer technologies, to bring about transparency and to end discretion,” Modi told the summit, adding that foreign direct investment in the country has topped U.S. $130 billion in his 2.5 years in office.

“Believe me, we are on the threshold of becoming the world’s most digitized economy. Most of you wanted this change in India. I am proud to say that it is happening before you.”

Modi’s address to the Vibrant Gujarat investor gathering came just weeks after his shocking decision to abolish 500 and 1,000 rupee notes, worth about U.S. $7.50 and
U.S. $15 each.

The move caused widespread anger among millions of people, as they endured long queues at banks and ATMs to draw money or deposit old notes about to expire.

The gambit has been billed as an attempt to root out corruption, end terror financing and move the country into the age of digital payments.  Reuters