United Nations General Assembly (UNGA) President Dennis Francis has lauded India for its digital transformation and its efforts to extend banking services to rural areas. He stated that India has lifted 800 million people out of poverty over the past five to six years, attributing this significant achievement largely to the widespread use of smartphones.
Speaking at the Food and Agriculture Organization (FAO) event on “Accelerating Progress Towards Zero Hunger for Current and Future Generations,” Francis highlighted how digitalization has enabled people in rural India, who previously lacked access to banking and payment systems, to manage financial transactions and receive payments through their smartphones.
“Digitalization provides a foundation for rapid development. In the case of India, the country has successfully lifted 800 million people out of poverty in the past five to six years, largely due to the use of smartphones,” Francis said.
He noted that high internet penetration in India has played a crucial role in this success, allowing widespread access to digital banking services. Francis pointed out that other countries in the Global South have not experienced similar benefits and emphasized the need for equitable digital access and initiatives to address these disparities.
“In India, even rural farmers who previously had no connection with the banking system can now conduct their business transactions via smartphone. They pay bills and receive payments for their orders easily. The high level of internet penetration means almost everyone has access to a cellphone,” he explained. “However, this level of access is not common in many parts of the Global South, necessitating efforts to address this inequality as part of a global digitalization framework.”
Digitalization has been a key focus of the Narendra Modi-led government over the past decade. Since the demonetization of ₹500 and ₹1000 banknotes in 2016, there has been a significant increase in digital payment transactions, with the Unified Payments Interface (UPI) playing a major role.
Prime Minister Narendra Modi has promoted digital adoption through the JAM initiative—Jan Dhan, Aadhaar, and Mobile. This program has facilitated the opening of millions of bank accounts, particularly in rural areas, linking them with Aadhaar to enable access to various government schemes and direct payments into bank accounts.
