Indian Economy News

Indians make 10-12 billion cashless payments: External Affairs Minister, Mr. S Jaishankar, on digital infra

External Affairs Minister Mr. S Jaishankar highlighted India's remarkable growth in cashless payments, stating that the country processes 10-12 billion such transactions every month. He emphasized that India's digital infrastructure has become its identity globally, with other nations seeking to learn from its success. Jaishankar noted the significant contrast between India and the US, where the latter makes only four billion cashless payments in an entire year.

He attributed India's economic resurgence to its robust structural foundation, citing projections by the International Monetary Fund that India will be among the top three economies in the coming years. Despite the challenges posed by the COVID-19 pandemic, India has maintained a 7% growth rate, distinguishing itself as a beacon of economic resilience and stability in the international arena.

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