India sees 46% of world’s total real-time digital transactions, says President Droupadi Murmu

NEW DELHI — India has emerged as the world’s second-largest producer of mobile phones and logged a five-fold increase in mobile phone manufacturing in the last decade, President Droupadi Murmu said on Wednesday, outlining the global acknowledgement of India’s prowess in digital transactions and systems.

Her first address to a joint sitting of the two Houses in the new Parliament building resonated with references to the rapid expansion of the startup ecosystem, nation’s AI push, speedy 5G roll-out, as well as the semiconductor sector investments.

Today, 46 per cent of the world’s total real-time digital transactions take place in India, she said, adding India is among the leading digital economies globally.

“Digital India has made life and business much easier in India. Today, the whole world acknowledges this as a great achievement of India. Even developed countries do not have a digital system like India has,” she said.

Murmu noted that a record 1,200 crore transactions were done through UPI last month.

“This amounts to a record transaction of INR 18 lakh crore,” she said.

Further, India achieved the fastest 5G roll-out in the world, the President said, adding that the Digital Personal Data Protection Act will make the digital space more secure.

The startup ecosystem has expanded, growing from only a few hundred startups in the country to more than one lakh today.

“Make in India and Aatmanirbhar Bharat campaigns have become our strengths. Today, India is the world’s second-largest producer of mobile phones. During the last decade, there has been a five-fold increase in mobile phone manufacturing,” she said.

Highlighting India’s digital clout, she said other countries of the world are also now providing the facility of transactions through UPI. Digital India has made banking more convenient and disbursement of loans easier.

The Jan Dhan-Aadhaar-Mobile (JAM) trinity has helped curb corruption, weeding out fake beneficiaries, and INR 2.75 lakh crore of public money was prevented from going into the wrong hands.

“My government has so far transferred INR 34 lakh crore through DBT. Thanks to Jan Dhan Aadhar Mobile (JAM), about 10 crore fake beneficiaries have been weeded out from the system. This has helped prevent INR 2.75 lakh crore from going into wrong hands,” the president said.

The facility of DigiLocker is also making life easier, she said, adding over 6 billion documents have so far been issued to its users.

Digital Health IDs of around 53 crore people have been created under Ayushman Bharat Health Account.

“The number of broadband users has increased 14 times. Nearly 2 lakh village panchayats of the country have been connected with optical fiber. More than 4 lakh common service centres have been opened in villages. These have become a major source of employment,” she said.

The government has focused on building modern facilities for remote and faraway islands like Andaman-Nicobar and Lakshadweep, which had been deprived of development.

“My government has developed modern facilities on these islands too. Roads, air connectivity and high speed internet facilities have been provided there. Just a few weeks ago, Lakshadweep was also connected with underwater optical fiber,” she said noting that these measures will benefit the local population as well as tourists.

Murmu observed that ‘Made in India’ has become a global brand.

“Now, the world is much enthused about our ‘Make in India’ policy. The world is appreciating the objective of ‘Atma Nirbhar Bharat’,” she said.

Companies from all over the world are excited about the emerging sectors in India. “This is illustrated by investment in the semiconductor sector. Electronics and automobile sectors also stand to benefit significantly from the semiconductor sector,” she said.

The government is working on Artificial Intelligence mission, which will unlock new opportunities for India’s youth and open avenues for new startups. This will also bring revolutionary changes in the fields of agriculture, health and education, she pointed out.

“My government has also approved the National Quantum Mission. Quantum computing will develop a new-age digital infrastructure. Now work is in progress to ensure that India remains ahead in this,” she said.