He said India’s ambition is to be the first country in the world to industrialise without carbonising.
Kant said India has assumed the G20 presidency at a time when the world is facing a raft of challenges. “While the very challenge is an opportunity, India’s priority for the G20 will be to drive digital transformation and go green,” he said. The G20 Sherpa gave details of innovation in the country, particularly in the financial sector. “What India has achieved in digital transformation, where PhonePe competes with Google Pay, is unlike anywhere else. We’ve managed to put data and privacy at the forefront of innovation,” said Kant while detailing the innovation in the fintech space.
He said India does 11x more digital payments than the US and Europe, and over 4x the amount China does. “In the last three and a half years, many Indians have used their mobile phones to perform all their bank transactions,” said Kant.
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