Digital Public Infrastructure

India is planning to advocate for regulations on digital public infrastructure and cryptocurrency. The country aims to establish norms in these areas to ensure the smooth functioning and security of digital systems. This move comes as India continues to experience significant growth in its digital economy.

The power of carefully designed Digital Public Infrastructure (DPI) is to provide transformational solutions. The potential for DPI to contribute positive change in the world has now become a major focus of India's G20 leadership.

India’s digital public infrastructure have seen significant evolution in the recent years, particularly with the advent of digital technology and increased internet connectivity. Digital public infrastructure refer to digital products, services, and applications that are created and maintained for public use, with the goal of increasing access and improving outcomes for citizens. The development of digital public goods in India has had a significant impact on the economy, particularly in terms of increasing access to information and services, improving government efficiency and transparency, and fostering innovation and entrepreneurship.

India has made remarkable strides in developing its digital ecosystem. The DPI initiative, also known as the India Stack such as Aadhaar, Digital Locker, DigiYatra, UPI, and technologies that have been developed through collaboration between different entities, including governments, regulators, the private sector, volunteers, startups, and academic institutions, the goal of DPI is to provide a seamless and efficient way for citizens to access government services and promote inclusive development.

India is going to Advocate for Global Norms on Digital Public Infra and Crypto Assets at G20 Summit. India is taking proactive steps to advocate for global norms on digital public infrastructure and crypto assets. The country aims to achieve substantial outcomes at the G20, particularly regarding a worldwide framework for crypto assets, reforms in multilateral development banks, debt resolution, and digital public infrastructure.

As per the report, a synthesis paper will be presented at the G20 summit in September. This paper will contain a summary of the International Monetary Fund's report on macro-economic stability, the Financial Stability Board's report on regulation for crypto assets, and India's input note. It will serve as the basis for deliberation among the leaders.

India will attempt to push for substantive outcomes at the G20 on a global framework for crypto assets, multilateral development bank reforms, debt resolution, and digital public infrastructure.

Moving forward, India's proactive stance on digital public infrastructure and crypto assets at the G20 reflects its commitment to shaping global policies that address the evolving landscape of technology and finance.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA