Professor Paul lauded PM Modi-led authorities for efficiently main digital penetration into plenty
New Delhi:
Nobel Laureate Professor Paul Michael Romer on Sunday hailed India’s digital revolution as probably the most inspiring and fascinating success tales and stated that it has set a brand new benchmark for world powers.
Prof Paul Michael Romer, additionally the previous Chief Economist of World Financial institution, is presently in India and might be one of many lead audio system on the two-day EDNBOX World Summit, ranging from October 21.
Professor Paul, sharing his views on India’s digital prowess, identified a singular facet of India’s digital transformation and stated that the South Asian nations can profit closely by emulating it.
Watch: Professor Paul Michael Romer says, “Nicely, that is what makes the digital revolution in India so fascinating, is that it has been utilized by the federal government to really present advantages to all members of society. It hasn’t simply created advantages for the fortunate few, and this I feel… pic.twitter.com/BPZCwjeZXH
— IANS (@ians_india) October 20, 2024
He stated that India’s digital revolution not solely made the lives of individuals simpler and less complicated, however it has additionally emerged for example for the remainder of the world.
Forward of his participation within the discourse at EDNBOX platform, the Nobel Laureate lauded Prime Minister Narendra Modi-led authorities for efficiently main the digital penetration into plenty and pushing it to each nook and nook of the nation.
“Digital revolution right here could be very fascinating as a result of it’s being utilized by the federal government to supply advantages to all members of society. That is very completely different from most international locations of the world, the place the goal is just a fortunate few beneficiaries. India’s story is exclusive as a result of it’s offering advantages to all,” he stated.
When questioned on how India’s digital success may turn into a mannequin for South Asian nations, he stated that on-line companies like UPI, DBT, Digilockers and extra have proven super success and the Southern nations may emulate it for writing an analogous success story for them.
“Different international locations, significantly within the South ought to consider that if India can do it, we are able to additionally do it. They’ll draw inspiration and confidence from India and harbour an ambition to create a hit story. They do not should be depending on wealthy international locations, relatively ought to provoke work based mostly on their very own floor realities,” he instructed the mediapersons.
When questioned about India’s astounding success in digitising the financial system regardless of very restricted on-line literacy, he stated that he has at all times been a powerful votary of know-how as an awesome enabler.
“In Eighties, I strongly vouched for know-how to be a life-changing enabler. Know-how can enhance the standard of life – and is seen in international locations like Singapore, South Korea and extra. When China grew quicker than another nation, some attributed it to its measurement. Nevertheless, in democracy what issues is the nation’s capability, its ambition and imaginative and prescient to attain,” he remarked.
(Apart from the headline, this story has not been edited by EDNBOX employees and is revealed from a syndicated feed.)