Amitabh Kant asserts that the global trajectory won't be shaped by major tech giants but rather by India's Digital Public Infrastructure (DPI)

Amitabh Kant, India's G-20 sherpa, emphasized that the future won't be shaped solely by major tech corporations, but by locally developed digital public infrastructure platforms. At the 'We Made in India' event, he highlighted India's intention to export its DPI model globally, citing growing interest from other countries.

During India's G-20 presidency last year, the Digital Public Infrastructure (DPI) was spotlighted, comprising components like Aadhaar for digital identity, real-time payments via the UPI platform, and services such as account aggregation. Kant remarked that at the G-20, the world embraced the DPI definition and framework, acknowledging India's significant advancements in this area. "At the G-20, the global community embraced the DPI definition and framework. We believe the future won't be dictated by big tech, but by DPI," Kant affirmed.

It's worth noting that 'big tech' typically encompasses major global tech players like Apple, Alphabet (Google's owner), Amazon, and Meta.

Kant emphasized that India's Digital Public Infrastructure (DPI) will be shared globally, creating numerous opportunities for Indian entrepreneurs to capitalize on. "DPI will become a global standard," he stated, underscoring its significance in India's growth narrative leading up to 2047.

Meanwhile, the former bureaucrat urged insurance companies and pension funds to channel investments into India's burgeoning startup ecosystem. He highlighted the role of patient investors in building ecosystems like Silicon Valley, where big tech companies thrive on the backing of such investors.

Kant noted that currently, the majority of funding for domestic startups originates from international sources, with only a quarter sourced domestically, including from high net worth individuals. "We require Indian insurance companies, pension funds, and high net worth individuals to take calculated risks and invest in India's startup movement. This is pivotal for India's growth trajectory," he emphasized.

He emphasized the necessity of establishing a fund of funds for the deep tech sector in India, enabling venture capital funds to support startups operating in this sector, which holds significant relevance for the future.

At a time when there are calls for India to prioritize the service sector to drive growth, Kant emphasized the importance of also focusing on manufacturing, highlighting its job creation potential.

"I believe one of the most noteworthy achievements of this government has been its emphasis on the Make in India initiative," he remarked.