Minister Sitharaman flags India's 'digital nudge' in US
Highlighting several digitization-related progressive steps in the budget this year, Finance Minister Nirmala Sitharaman said that there is a continuous digital nudge by the government across different sectors.
Sitharman's remarks came during the 'Business Roundtable: Investing in India's Digital Revolution' organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) and co-hosted by the US-India Strategic Partnership Forum (USISPF) in Palo Alto, California.
Alluding to the recently announced Central bank digital currency, digital banks, and digital university, Sitharaman stated, "There is a continuous digital nudge by the government across sectors."
Interacting with the participants, the Finance Minister said that India aims to introduce digital currency by 2023. However, she added that aiding financial inclusion was not the sole purpose of the proposed digital currency, unlike in other countries. "The government and RBI are looking into its several commercial use purposes and not just financial inclusion, which is largely achieved through the JAM trinity," she said.
She also encouraged constant engagement to understand and address investor concerns and was open to suggestions to understand pain points and offer necessary redressal. She also invited stakeholders interested in Indian startups to engage with the Startup Cell at the Department for Promotion of Industry and Internal Trade under the Ministry of Commerce and Industry.