India’s Digital Week 2022 with the theme ‘Catalyzing New India’s Techade’ started on July 4 in Gandhinagar, Gujarat. The 4 to 9 July event commemorates the launch of the first phase of the Digital India program launched by Prime Minister Narendra Modi. The event comes on the heels of India emerging as the 3rd largest ecosystem by global launch. Supported by the strong winds created under the umbrella of the Digital India program and successive campaigns, India has more than 73000 launches and 100+ unicorns. After the 2021 water year saw a record increase of 44 unicorns despite a Covid attack, six months in 2022, it saw 17 starters joining a unicorn club for a total of $ 22 Billion.
The Ministry of Electronics and Information Technology (MeitY) in line with the well-established goals of Digital India, Startup India and Atma Nirbhar Bharat have been working tirelessly to accelerate the start of the tech ecosystem. MeitY through its various programs and programs supports more than 2000 implementation with an annual budget of 100 billion. With its many programs designed specifically for the cities of Tier II & Tier III and suburban areas, MeitY opens the way for greater access to these areas helping the next entrepreneur league join the bandwagon.
With the aim of growing and maintaining the tech ecosystem, Digital India GENESIS (Gen-Next Support for Innovative Startups) MeitY’s national 750+ Deep-tech Startup Platform was launched by PM Shri Narendra Modi. The forum envisages the impact of 10,000+ technology initiatives over the next five years, especially in the Indian cities of Tier-II & Tier III which will be equipped with the right tools and supported by the right infrastructure to start and grow. up. Digital India GENESIS will pave the way for the first ever more equitable ecosystem, equally representing the aspirations of our aspiring entrepreneurs in the techno-socio-economic development of India.
The second day of the July 5 event was marked by a conference entitled ‘Accelerating the Start-up Economy.’ The opening session featured the presence of Shri Ashwini Vaishnaw, Minister of Railways, Communications, Electricity & Technology, Shri Rajeev Chandrasekhar. , Minister of State for Skills Development & Entrepreneurship and Electricity & Technology, and Shri Alkesh Kumar Sharma, Secretary, MeitY outside the group of leaders from leading industries, Unicorns and the Indian industry of IT / ITES addressing the conference.
The day-to-day event includes key addresses, attractive panel discussions and business presentations made by 30+ leading business and technology professionals and Unicorns.The first panel discussion began with the keynote address by SudhirSethi, Founder & Partner General Manager, Chiratae ‘on the opportunity of Digital India in the Fast Digital World’. This was followed by an insightful panel discussion on ‘India’s Vibrant Start-up Ecosystem – Continued Growth’.
How digital infrastructure grown in India during Covid19 pandemic
The world was already in the digital-first trajectory with the highest digital transaction in the world when the epidemic struck, and it promoted the use of intangible digital technology.Data from the apex Reserve Bank of India (RBI) shows that India is now closing about 100 million dollars a day at a volume of 5 trillion rupees ($ 67 billion), almost five times the increase since 2016. The RBI expects this to continue grew five to 1.5 billion a day costing 15 billion rupees ($ 200 billion). Many of these are powered by United Payment Interface (UPI), a real-time payment system developed by the National Payments Corporation of India and employed by the RBI.
This digital reorganization of a world of 1.3 billion people is not only technological advancement but, more important, the foundation of a new way of liberating the asset of governance. In this application of the technology system by the government two promises that were historically difficult to fulfill in India – speed and leak connectivity. The use of digital technology has resulted in savings of approximately $ 23 billion, 98% of which are eliminated by eliminating potential beneficiaries.
The gig economy is driven by online platforms that hire employees with ad hoc, short-term contract, and especially informal. Well-known examples of this include Uber and Airbnb worldwide as well as Ola and Swiggy in India. These platforms have grown significantly from the widespread availability of smartphones from 2010 onwards. At the time of the closure, the workers employed by these stadiums had suffered a great deal, as the demand for their services, taxi, employment, or skilled workers had disappeared.In the post-epidemic situation, there is likely to be, in the short term, a slow return of gig economic workers, as manufacturing firms and services return to their former jobs. However, we expect that over time as the threat of infection and spread decreases, the gig economy will improve. This will also be encouraged by the WFH culture.
How digital payment changes the life of common public
• Managing cash at all times can be a risky decision. That is why older people are often the victims of petty theft or robbery. One of the main advantages of digital payments is that they are much more secure than conventional financial services, as they require proper authentication and validation.
• Standing at long ATM lines just to withdraw cash is not a pleasant task for anyone. Most adults, however, are confronted with this situation every time they go out and buy something.
Digital payments, on the other hand, give older people more comfort as they allow them to perform financial tasks more easily without having to worry about having enough money in their pocket.
• In order to promote digital payments, banks and other financial institutions regularly offer different types of offers and discounts to their customers.
Adults can benefit from this offer and can receive regular refunds, prizes and discount vouchers for their digital payments. In addition, some banks and digital wallets offer special rewards and offerings to their top customers.
• Gone are the days when we had to carry a large sum of money during any journey out of the station. Today, retailers around the world have come to appreciate the value of financial security and have begun to accept digital payments.
Thus, the elders can now easily travel to and from other cities in India, without having to worry about getting an ATM or running out of money.
