Why India’s success in financial DPI should be replicated in climate action
Under India’s G20 leadership, Digital Public Infrastructure (DPI) has taken centre stage. Leveraging this focus could significantly bolster initiatives for climate change adaptation and mitigation.
Just a few years back, the notion of walking into an Indian grocery store without cash or a credit card would have been unthinkable. Today, however, digital payments are ubiquitous across the country, with India accounting for 40% of the global digital transactions in 2021. The advent of Digital Public Infrastructure (DPI) networks like the Unified Payments Interface (UPI) has revolutionized financial interaction between consumers and businesses, positioning India as a frontrunner in global DPI innovation. Under India's presidency, the G20 Digital Economy Working Group has consistently highlighted DPI, particularly in its first three meetings, aligning it with the broader objectives of the Sustainable Development Goals (SDGs).