India’s thrust towards unleashing the formidable potential of its Micro, Small, and Medium Enterprises (MSME) sector has gained significant traction through a strategic pivot towards Digital Public Infrastructure (DPI).
This pioneering move, culminating in the recent United Nations’ First International Conference on DPI under India’s stewardship, marks a pivotal moment in the country’s economic narrative. A pivotal nexus between technology and citizen services, DPI embodies a digital ecosystem encompassing essential services like Aadhaar, UPI, and Fastag. According to a Nasscom report, released in February 2024, DPI stands as a linchpin in India’s ambition to evolve into an $ 8 trillion economy by 2030. The report underscores DPI’s potential to augment economic value, projecting a surge from 0.9% of GDP in 2022 to between 2.9% and 4.2% by 2030. At present, India’s MSME landscape teems with over 6.30 crore enterprises, constituting a vibrant cornerstone of the economy. In a bid to amplify this dynamism, India spearheaded the UN conference, showcasing its innovative strides in the domain, notably through the Citizen Stack initiative. This initiative, exemplified by the collaboration between technology startup ‘Jocata’ and SIDBI, birthed India’s maiden Monthly Index on MSME economic activity, christened ‘Jocata Sumpoorn,’ lauded for its utilisation of digitally accessible GST sales data.
A constellation of dignitaries graced the event, including India’s Permanent Representative to the United Nations, Ruchira Kamjob, UNGA President Dennis Francis, and India’s IT Minister Ashwini Vaishnaw, among others. The discourse revolved around the indispensable role of public-private policy partnerships in fostering innovation, accentuating India’s status as a beacon in DPI implementation. The conference spotlighted India’s exemplary status in DPI adoption, featuring case studies elucidating its adaptability, such as the Modular Open Source Identity Platform, tailoring DPI to suit the contextual nuances of nations like Ethiopia and the Philippines, thus ushering in an era of digital sovereignty. In essence, the convergence of India’s MSME ambition and DPI prowess heralds a paradigm shift in the country’s economic landscape, propelled by innovation and inclusive growth strategies.
