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

Author

Listed:
  • Cristian Alonso
  • Tanuj Bhojwani
  • Emine Hanedar
  • Dinar Prihardini
  • Gerardo Uña
  • Kateryna Zhabska

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.

Suggested Citation

  • Cristian Alonso & Tanuj Bhojwani & Emine Hanedar & Dinar Prihardini & Gerardo Uña & Kateryna Zhabska, 2023. "Stacking up the Benefits: Lessons from India’s Digital Journey," IMF Working Papers 2023/078, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2023/078
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    Cited by:

    1. Bianchi, Milo & Bouvard, Matthieu & Gomes, Renato & Rhodes, Andrew & Shreeti, Vatsala, 2023. "Mobile payments and interoperability: Insights from the academic literature," Information Economics and Policy, Elsevier, vol. 65(C).
    2. Agustín Carstens & Nandan Nilekani, 2024. "Finternet: the financial system for the future," BIS Working Papers 1178, Bank for International Settlements.

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    Keywords

    Digitalization; digital payments; digital ID; govtech;
    All these keywords.

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