While physical infrastructure in India can often be plagued by inefficiencies, the country has made phenomenal progress in creating a digital infrastructure that has put it at the forefront of the digital payments arena. India accounts for nearly 40% of global real-time digital payments, according to estimates from the Indian government.
Speaking at the World Economic Forum in Davos in January this year, the country’s minister for railways, communications, electronics and information technology, Ashwini Vaishnaw said that India’s digital payment transaction value was more than the combined digital payments of the US, UK, Germany and France.
