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From cashless society to stock investment, astrophysicist hails digital India. see post

Indians are adopting digital payments at a scorching pace. The government data has shown that digital transactions grew close to 90% from 232,000 to over 430,000 in the three years from FY19 to FY21. Witnessing this big transformation, Indian astrophysicists Dr Karan Jani, who visited Gujarat after a gap of 2.5 years wrote, “Just a sheer scale of digital payment literacy that has happened in India is beyond anywhere in the west”. Industralist Anand Mahindra also agreed with Jani’s perspective about India’s digital transformation. Mahidnra wrote, “Even when change takes place in front of our very eyes, we often fail to see it. Thank you for this very interesting ‘outside’ perspective”.

Jani said that India is beyond now as a cashless society. “From street vendors to shops in the malls, everyone everywhere is using Google Pay (or something similar).”

Continuing his praise for digital India, Jain shared his experience saying, “I went for a passport renewal… I got a text right as soon as I made the payment. And every update since–print, police verification, courier’.

Further, Jani also observed a positive transformation towards investment methods adopted by the country’s youth. He said “everyone is investing in stocks, are wanting to go beyond ‘orthodox investment in post and gold’.

I have stated that digital literacy is profound and such adoption happened in the background of the global pandemic.

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