128: How Digital Payments Are Revolutionizing India ft. Infosys Chairman and Co-Founder Nandan Nilekani
The Bid
The Importance of Digital ID in India
In the mid-2000s, India's Prime Minister Manman Singh started a project for giving everybody an ID. At that time, it was not a digital ID, it was just an ID, it had to be unique. And why did we need this ID? The two reasons were building its welfare state and wanting to make sure money reached right person.
Over the past 14 years, India has undergone a digital transformation that has caught the attention of the world: It has built a digital identity system that has created unique IDs for over a billion Indian people and launched a digital payment system that has revolutionized consumers’ access to financial services and healthcare. Host Mark Wiedman is joined by Nandan Nilekani, Co-founder and Chairman of Infosys to talk about how the country is building a digital public infrastructure that brings new economic growth for society
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