India's digital transformation in pandemic akin to mobile revolution: IBM's Arvind Krishna New Delhi: India’s rapid digital transformation, including in payments, over the course of the Covid-19 pandemic is similar to what the country did with its mobile phone revolution, IBM Chairman and CEO Arvind Krishna said on Tuesday. “The 18 months of the pandemic
Noting that India is a major economy with the highest potential growth rate right now, Nobel laureate economist A Michael Spence said the country has successfully developed by far the best digital economy and finance architecture in the world.
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Emerging economic should look to boost drive economic advancement by harnessing the digital revolution that's empowering MSMEs to leapfrog financial hurdles and secure their future.
Chinese banks are lagging behind Indian lenders in terms of digitalization, according to veteran banker K V Kamath. Despite being early adopters of digital payments, Chinese banks are still less digital than their Indian counterparts. Kamath believes that India has caught up with China in terms of technology and is now leading the way. He also expressed optimism that the digital economy will contribute significantly to India s $25 trillion economy.