In a little over a decade India has built a collection of public-facing digital platforms that have transformed life for its citizens
, or “teacher to the world”. But what pedagogical gift, beyond its prime minister’s charisma and sage-like appearance, does a rapidly growing and ambitious India have for other countries?
For the relatively affluent, such innovations are extremely convenient. For millions of others they have been transformative. Vendors of everything from coconuts to jewellery now accept digital payment. This has made their working-lives easier, more profitable and less vulnerable to coercion and theft. The hundreds of millions in India’s welfare system receive “direct benefit transfers” straight to their Aadhaar-linked bank accounts, an arrangement that has slashed losses to corruption.
The digital ecosystem behind these developments is vast and complex. Its members include government agencies, regulators, tech firms, quasi-public corporations, foundations,s and universities, all of which are building different elements of the digital edifice. Aadhaar is run by the government;is managed by a public-private venture, the National Payments Corporation of India .
Some hope that influence might one day extend to an Indian alternative to the Western-run global financial plumbing, which includes themessaging system upon which thousands of banks rely for cross-border transfers and clearing systems in New York. America’s weaponisation of this system after Russia’s invasion of Ukraine last year, which included sanctioning most Russian banks, spooked governments from Brasília to Beijing.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
India train crash: Narendra Modi vows the 'harshest punishment' for those to blameAt least 288 people dead with more than 850 injured amid warnings the number is expected to continue rising as more bodies are removed from wreckage.
Read more »
India train crash: Narendra Modi vows the 'harshest punishment' as number of dead rises above 300'There is an investigation underway, but you can see just how devastating this has been.' CordeliaSkyNews describes the 'painstaking work' to clear the train crash site in India. Latest: 📺 Sky 501, Virgin 602, Freeview 233 and YouTube
Read more »
India's rail crash tragedy caused by signalling error, minister saysTwo inquiries have been launched into the crash as India’s prime minister Narendra Modi vowed the ‘harshest punishment’ for those to blame
Read more »
Modi vows 'harshest punishment' for people to blame for India train crash, as death toll reaches 300 and 900 injuredIndia's prime minister has pledged to inflict the 'harshest punishment' on those responsible for the horrific train crash in the east of the country on Friday, which has killed hundreds of people.
Read more »
India Train Crash Death Toll Rises Above 230 With 900 Injured As Rescuers Comb Through DebrisTwo passenger trains have derailed in India, killing more than 230 people and trapping hundreds of others inside more than a dozen damaged rail cars.
Read more »