India showcases its digital transformation journey at G20 Digital Economy Working Group meeting

The first G20 Digital Economy Working Group (DEWG) meeting held under India's presidency showcased the country's digital transformation journey.

The three-day meeting which concluded in Lucknow, Uttar Pradesh on Wednesday brought together G20 members, key knowledge partners, and guest countries to discuss digital public infrastructure, cybersecurity, and digital skilling.

Representatives from eight guest countries also attended the meeting while international organisations like ITU, UNDP, OECD, UNESCO and World Bank participated as the Knowledge Partners.

The meet, which was also attended by representatives from eight guest countries, set the tone for productive and meaningful deliberations for the future DEWG meetings, the Ministry of Electronics and IT said.

This DEWG meeting was the first of four scheduled to be conducted in India, with the next ones taking place in Hyderabad, Pune and Bangalore.

Accelerating Digital Transformation

According to an article published in the Reserve Bank of India's monthly newsletter in December 2022, India’s digital economy grew 2.4 times faster than the Indian economy, with strong forward linkages to the non-digital sectors.

The digital output multiplier has increased over time, highlighting the role of digital economy investments to drive growth, the paper said.

Not surprisingly, accelerating digital transformation across the spectrum will be a major focus area of India’s G20 presidency and diplomatic outreach in months to come.

In January, the Union Government set up India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development. It is co-chaired by India’s G20 Sherpa Amitabh Kant and Infosys Chairman Nandan Nilekani.

The task force will oversee and facilitate achieving India’s G20 Presidency agenda and priorities on digital public infrastructure, financial inclusion, promoting digital identity, improved and innovative technology-based services including digital payments system like UPI along with the governance frameworks.