Prime Minister Narendra Modi on Monday underscored India’s remarkable digital transformation over the past decade, crediting initiatives such as the JAM (Jan Dhan-Aadhaar-Mobile) trinity, Unified Payments Interface (UPI), Government e-Marketplace (GeM), and e-NAM (National Agriculture Market) for driving change across sectors.
Sharing an article written by Minister of State Rao Inderjit Singh on X, PM Modi said, “India’s digital decade is not just about technology, but about transformation – and the story is just beginning.”
In the article, Rao Inderjit Singh noted that India has undergone a digital revolution that has fundamentally reshaped nearly every aspect of life, including the economy, governance, education, healthcare, commerce, and even agriculture.
“This journey has not been accidental. It has been carefully stewarded by the Government of India through bold policymaking, cross-ministerial collaboration, and a commitment to inclusive growth,” he wrote. He credited various ministries – including the Ministry of Electronics and Information Technology (MeitY), Ministry of Finance, and Ministry of Agriculture – for executing large-scale projects, with NITI Aayog serving as the policy engine driving convergence and citizen-first innovation.
A major turning point came with the rollout of the JAM trinity, which enabled the opening of over 55 crore bank accounts and brought millions of previously unbanked citizens into the formal financial system. This led to a massive financial inclusion movement and streamlined direct benefit transfers, eliminating middlemen.
The article cited the example of a single mother in a small village in Odisha who was able to receive welfare benefits directly into her account for the first time – a story now echoed by millions of beneficiaries across India.
Building on this foundation, the development of UPI by the National Payments Corporation of India (NPCI), under the guidance of the Reserve Bank of India (RBI), transformed the country’s payments ecosystem. What started as a convenient way to send money to friends soon became indispensable for small businesses, street vendors, and gig workers.
Today, India records over 17 billion UPI transactions every month, with even roadside vegetable sellers accepting payments through a simple QR code – a testament to the deep penetration of digital payments across the economy.
(With inputs from IANS)
