Post-pandemic, the International Monetary Fund predicted India to be the fastest-growing economy during 2022-23 and 2023-24. The predicted K-shaped or V-shaped recovery have been far from reality. HSBC India CEO, Hitendra Dave, recently remarked, "Once per capita GDP in India crosses the $3,000-3,500 mark, as China did 2530 years ago, it will be a J curve for everyone." But how? We want to articulate how India can play 'Country as a Platform' to enable an actual J curve growth.
The success of Digital India initiatives, Unified Payment Interface (UPI's) growth story with 75 billion transactions in 2022, doubling from 38 billion transactions in 2021, e-Governance, and other state-level initiatives are remarkable. India's UPI and Immediate Payment Service (IMPS) are regarded to be far more developed than similar systems in use in developed nations. However, a country-level platform approach can boost India's growth story.
This story is from the February 11, 2023 edition of Businessworld India.
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This story is from the February 11, 2023 edition of Businessworld India.
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