High Level Symposium on Digital Public Infrastructure for Innovative, Resilient, Inclusive Growth and Efficient Governance ahead of 1st Finance Ministers and Central Bank Governors Meeting in Bengaluru
On the side-lines of the 1st G20 Finance Ministers and Central Bank Governors Meeting under G20 India Presidency, a High-Level Symposium on Digital Public Infrastructure (DPI) was held yesterday, in Bengaluru, India.
The Symposium saw a panel discussion on DPI for Innovative, Resilient, Inclusive Growth and Efficient Governance with participation of Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman,; Dr. Sri Mulyani Indrawati, Minister of Finance, Republic of Indonesia; Mr. Roberto de Oliveira Campos Neto, Governor, Central Bank of Brazil; Ms. Kristalina Georgieva, Managing Director, International Monetary Fund; and Mr. Agustin Carstens, General Manager, Bank for International Settlements.
Mr. Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India, and India’s G20 Finance Deputy, welcomed the eminent panellists. The discussions were moderated by Mr. Nandan Nilekani, co-chair of India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development and Former Chairman, Unique Identification Authority of India (UIDAI).
Opening the Symposium, Shri Seth stated how digital innovations have emerged as a great leveller and enabler of growth and through the experiences of many countries, including India, it is evident that DPI are one of the most transformational digital innovation.
Mr. Nilekani elucidated the roles and examples of DPI and brought out India’s success story in developing a new approach to solving societal and service delivery problems using DPI which led to cost savings for governments, increase transparency and accountability while encouraging access to finance and innovations.
The panellists discussed their experiences and noted the potential of DPI for leading to growth and empowerment of people through increased accessibility, inclusion, accountability and productivity gains. The contribution of DPI for expanding the reach of government and private sector to the last mile, particularly in the time of the pandemic was underscored by the panellists.
Leveraging DPI for inclusive growth and development is being steered by the G20 India Presidency as a key priority. The discussions in the Symposium threw light on the potentials of DPI for leading to innovative, resilient, and inclusive growth while providing a means for efficient governance.
To steer the work under this priority, the G20 India Presidency has also constituted a Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development. The Task Force is co-chaired by Shri Amitabh Kant, G20 Sherpa of India, and Shri Nilekani and is constituted to guide the work during the G20 India Presidency.