The Big Picture - Digital Transformation & Investment

Google CEO Sundar Pichai on Monday announced an investment of Rs 75,000 crore in India over the next 5-7 years through 'Google for India Digitisation Fund'. Addressing Google for India event, Pichai asserted that the latest move is a reflecion of the company's confidence in future of India and its digital economy. Investments will focus on four key areas of India's digitisation. This includes, enabling affordable access and information to every Indian in their own language, building new products and services relevant to India's unique needs, empowering businesses as they continue to embark in digital transformation, and leveraging technology and Artificial Intelligence for social good in areas like healthcare, education and agriculture. Meanwhile, Reuters quoting sources said Foxconn plans to invest up to $1 billion to expand a factory in southern India where the Taiwanese contract manufacturer assembles Apple iPhones.

Anchor:- Frank Rausan Pereira
Producer:- Sagheer Ahmad

Guest Name:-
1. Arvind Gupta, Head and Co-Founder, Digital India Foundation
2. Adhil Shetty, Co-Chair, Fintech Committee, FICCI
3. Subimal Bhattacharjee, Digital Technology Expert

[shashiketan]

*182. DIGITAL TRANSFORMATION IN INDIA*
India’s position/opportunity in digital:
• Internet penetration – 15% to 65% in last 6 years. India – highest data consumption/ person at lowest cost. New age digital revolution will be data oriented.
• People who used to spend in digital from 10 Cr to 20 Cr.
• Democratic nation – India being a democratic nation attracts investment due to its openness & transparency.
• India provides a large market to the world.
• India has the right startup ecosystem.
• Traditional supply chain will be expensive hence COVID has accelerated the need of digitalization in India.
• India’s innovation is bottom up approach – US innovation is for top of the pyramid, China’s is limited while India’s model can be applied throughout the world.
• Potential of digital tech in vernacular language.

Reasons for investment in digital market:
• India still has a large market which needs to be addressed – rural India.
• Steady growth of software & services industry – biggest Confidence building measures demonstrated in digital domain – expanded in all geography.
• Electronic mfg are happening in India.
• Endless Possibilities – health consultation, education – skill reskill & upskill.

Challenges:
• Information security is needed.
• Citizen awareness, digital literacy.
• Crime syndicates, Chinese phishing attempt.
• Reliable digital infrastructure.

Government steps: (working as enabler)
• Startup fund – 10, 000 Cr.
• Hackathons.
• Push for telemedicine in the wake of COVID
• Vernacular push for digital technology – UPI available in 18 languages.

Way forward:
• Robust data protection law.
• Every company needs to take up responsibility.
• Homegrown cyber security – employment opportunity & technology opportunity
• Dialogue between govt & industry
• Faster adoption of latest technology by government – RBI’s video KYC

[kunaldeka]

The only show officially allowed for UPSC aspirants

[anabhtechnosoft]

Digital india will make digital bharat and digital bharat in turn can make a truely digital world..this will be called as digital revolution and india being torch bearer of that .

[winterbear]

ofcourse villages are the backbone of India, this move is a wayforward for digitalization of India for inclusive growth.

[princeSingh-xpjp]

"India Model" will be great.

[sahilyadav]

if india wants to prospers taking rural india then regional language digital system is way forward.

[Rahulpriye]

Approximately 13% of the total investment in startup companies are coming from china alone. So, I think that's needs to be expanded further in order to reduce India dependency on china as far as startup ecosystem are concerned.Therefore, according to my view, that's the best way going forward

[amitpatil]

Modi thought of digital drive in 2015.. Today's result are that visions results.We are doing digital transactions in huge amounts and increasing exponentially.there are many issues too but we would change slowly.Lets hope for best vision for India.

[simmipandey]

I wish things get normal soon n we can see big picture in the studio☺️

[ZERO-rzhx]

Indigenous 5G by jio will be game changer for India

[sreelatha]

Digital india is very easy to get anything in the world get by people today like data collection, buying and selling goods, transmission money in one place to another etc.

[harikesavareddy]

I think big picture should be atleast 1 hour long

[Nitishkumar]

We don't manufacture mobile. We only assemble them. Government should think about this.

[piyalisamanta]

ধন্যবাদ (thanks) SIR for providing valuable information

[karthickkumar.u]

Rural bush, recent world youth skill day mentioned the our honourable prime minister said that Skill, reskill, upskill, this is one of digital way transform to own language digital platform 18 language. It should be favoured to another way to eliminate the unemployment, education, etc . Indian model follow the other countries coming 5 or 10 years and good example our swatch bharat, nutrition scheme (elimate 14% poor level) last 6 years. Transform new idea and innovative e commerce, IT, research, agriculture etc.( atal innovative mission Nitiaayog) .

[monikakumari]

'Digital Transformation and Investment'
Google CEO Sundar Pichai announced an investment of Rs75000crore in India over the next 5-7years through 'Google for India Digitisation'
A. Key areas of Investment :-
1. Affordable access and information to every Indian in their own language
2. Building new products and services to India's needs
3. Empowering business
4. Leverage technology and AI
B. Scope for digital technology in our country :-
1. India's internet penetration upto large scale
2. Convenience for transaction to the users
3. Provide free digital platforms both local as well as global companies to flourish and prosper
4. Provide high and affordable hardware for affordable and accessible data
5. Create multiple destinations for start up ecosystem such as to access drivers and cars easily
C. Benefits of digital economy in Banking and financial services:-
The concept of 'contactless' in banking and financial services indicate that we can easily access banking services and facilities without going through a long formal procedure which take a lot of time, say just in 3 minutes
*It will reduce the cost of traditional supply chain
* It will more feasible for for rural areas short duration
D. Issues or challenges to digitisation:-
1. Financial services are now available to each one's finger tip but that also causes a threat to data's security
2. Artificial intelligence and cutting edge technologies will also impose threat as we see many cyber crimes had happened
E. Way Forward:-
1. Management of companies needs to realise that information security is critical which is required by the IT Act and for this certification is
necessary
2. Management of companies needs to take responsibility to make sure there are certification of security such as PCI DCS ISMS
3. Data protection laws needs to be proceed as a common law where everyone has to comply with it
Allow certain regulatory changes to use the latest technologies
Conclusion
Digital transformation is bedrock for the ease of doing business whether it is for a human being or for companies . Challenges creates opportunities and opportunities create innovations. Rules and regulations always lag behind innovation but innovation is always going ahead and that is the charm of innovation. India is a great economy and it's demand came across the countries so we have to grab this opportunities.

[jyotishnaseema]

Digital fund is good. Data is provided 1ya 1.5 go/day .
Internt problem rural area. There is no connection net and data .so solve issue and JK is issues net. JK is very bad condition for internet facility so it's oppurnity and challenge linking internet.
It's help full for online worker and study.

[mansisaxenaa]

In covid -19 pandemic analysis how much digital india is important
Acess, affordable, available internet (core issue)
Why digital india-transparent system (policy, rules, guidelines, scheme)
Education for all (opprtunity for quality and accessable, affordable education)
Gold destination (largest internet consumers)
Finacial inclusion
Problem-manufacturing of harwares, connectivity to rural, himalayan amd north states, in compititive world affordibility is biggest concern, digital infrastructure, dispute settlement (consumer-producer), availability of internet during monsoon (for connectivity to all policy), health issue is also biggest concern (telemedicine, quick action, data collection, )
Need of the hour-
More reasearch and development for affirdable hardware and infrastructure, industry4.0(machine learning, robotics(in pandemic use as health worker), AI), CYBER security, data collection
Coperatation of other countries in adoption technology
Wastage concern (sustainable technology)
Cyber security with high security (high technology)
Biggest need skill human resourse (generate for employment )
Investment (FDI) LIKE-google, fb, amazon(for infrastructure support, accesable support, affordable support, and generation upgradation (5th))
Data is crucial money (monitoring and managing by law )-data not violate, privacy not violate, security remains..