Digital public infra key to $5tn eco: US VC fund CEO
- Washington: India's transformative digital public infrastructure will be central to its ambitious goal of becoming a $5 trillion economy the head of a top American venture capital list fund said on Thursday even as she urged global policy. makers and business innovators to pay attention to the country's rapid digital development.
- Digital public infrastructure (DPI) refers to blocks or platforms such as digital identification, payment infrastructure and data exchange solutions that help countries deliver essential services to their people, empowering citizens and improving lives by enabling digital inclusion.
- A fully operational, inter- connected and robust national infrastructure of this scale and magnitude does not have a global precedent and India's DPI success story is an outlier and first mover, Melissa Frankman, CEO and founding partner of Emphasis Ventures said. She made these comments at the Sherpas meeting of G20 member countries in Kerala's resort town of Kumar Akom, where they are holding multilateral discussions on economic and developmental priorities. "Global policymakers and business innovators alike should pay attention," Frankman said.
- "As India aspires to become a $5 trillion economy in the future, and the world's third largest economy within a decade, its thriving DPI will be central to delivering on this economic promise and achieving these audacious goals," she said. India has the potential to grow at 6.5-7% and become a $5 trillion economy by 2025-26 and $7 trillion by 2030, India's chief eco- nomic advisor V Anantha Nageswaran has said.