G-20: India's digital model is the mantra to bring three billion people into the financial structure
India's digital public infrastructure and the financial inclusion achieved through it have been admired and everyone wants India to help the world in this work. That is why, being the chairperson of the G-20 group this year, India along with the G-20 countries wants to help in preparing its DPI model for financial inclusion in the whole world, especially in poor and developing countries.
When the top leaders of 20 major countries of the world, who have more than 75 percent share in world trade, sit together on Saturday to prepare a roadmap for global development, the first thing to be discussed will be India's digital model of financial inclusion. It is quite possible that there will be a consensus on adopting this model throughout the world, especially for developing and poor countries. With its help, it will be easy to open accounts for the three billion people in the world who are deprived of bank accounts.
At the same time, those four billion people in the world who have been deprived of it till now will also get digital identities. In February this year, in the meeting of Finance Ministers and Heads of Central Banks of G-20 countries, it was decided that the whole world has approved India's Digital Public Infrastructure (DPI) and the financial inclusion achieved through it. And everyone wants India to help the world in this work. That is why, being the chairperson of the G-20 group this year, India along with the G-20 countries wants to help in preparing its DPI model for financial inclusion in the whole world, especially in poor and developing countries.
Many countries in Africa and Latin America have already or are about to enter into agreements with India in this direction. Eight countries including Suriname, Mauritius, Egypt, and Armenia have signed agreements with India. India is ready to provide full support free of cost in the development of DPI for financial inclusion in poor and developing countries. On Friday, a day before the top leaders' meeting, G-20 Sherpa Amitabh Kant said that the financial inclusion from DPI was still little known. India introduced the world to its unique model, which is now being accepted by all. He said that currently, three billion people in the world do not have bank accounts, while four billion do not have their own digital identity. That's why India's DPI model is needed by all poor and developing countries.
