New Delhi, October 13 (Daily Kiran) : Prime Minister Narendra Modi addressed attendees at the Bloomberg New Economy Forum on Tuesday, emphasizing the strength of India’s digital payment ecosystem. He encouraged foreign guests to experience the system, noting that both street vendors and car showrooms utilize the same digital payment platform, showcasing the power of inclusive technology.
Modi highlighted India’s rich diversity, stating, “India is the mother of democracy.” He pointed out that the country boasts over 100 languages, around 80,000 registered newspapers, and more than 1,000 satellite TV channels. He noted the significant presence of social media in India, with over 500 million YouTube users, facilitating discussions across various communities and sects.
The Prime Minister also discussed the growth of startups in India, which surged from a few hundred in 2014 to over 250,000 today. Notably, nearly half of these startups originate from smaller towns and cities, and 45% have a female director or partner, indicating broader access to innovation.
Modi mentioned India’s commitment to sharing its digital public infrastructure experiences with other nations, allowing them to tailor their systems to their needs. He cited the creation of the open-source ‘Co-WIN’ platform during the COVID-19 pandemic as an example of India’s capabilities. “Our goal is to empower humanity through our capabilities,” he stated. He stressed that when more people have the opportunity to innovate, the balance of power remains stable, amplifying the impact of innovation.
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