Highlighting the advancement of cashless transactions in India, External Affairs Minister S Jaishankar emphasised that numerous countries engage in discussions with India regarding its digital infrastructure, which has now become a defining feature of the nation on the global stage.
Jaishankar noted that India witnesses approximately 10-12 billion cashless transactions monthly, a significant leap forward compared to other nations such as the United States, which conducts only 4 billion cashless transactions annually.
Addressing a public gathering in Sambalpur, Jaishankar underlined the transformation brought about by digital technology, particularly in mobile-based payments, which have seamlessly integrated into the daily lives of Indians.
He further asserted that India has ascended to become one of the top five global economies, a remarkable turnaround from concerns over its economic trajectory a decade ago.
According to Jaishankar, India’s robust structural framework positions it to play a pivotal role in driving global economic progress, a sentiment echoed by projections from the International Monetary Fund, which foresees India’s significant contribution to global growth over the next two decades.
Furthermore, Jaishankar highlighted India’s exceptional economic resilience in the aftermath of the COVID-19 pandemic, standing out as the only major economy to achieve a 7 per cent growth rate amid widespread economic downturns across the world.