India Achieved 80% Financial Inclusion Within 6 Years: Ruchira Kamboj

India Achieved 80% Financial Inclusion Within 6 Years: Ruchira Kamboj

Ruchira Kamboj, India’s Permanent Representative to the United Nations, talked about the nation’s strong digital public infrastructure and highlighted India’s rapid progress in achieving an 80% financial inclusion rate within a mere six years. She emphasised that such a milestone would have taken decades to reach without the advanced digital infrastructure in place.

Addressing a session at the United Nations Security Council on Thursday, Kamboj said that India’s journey offers powerful lessons for other nations embarking on digital transformations. “In just six years, India has achieved an 80% financial inclusion rate, a milestone that would have otherwise required decades without our digital infrastructure,” she remarked.

“As we gather to celebrate the empowerment of billions in India, we echo Secretary-General Antonio Guterres’s call for continued partnerships at the core of our strategy, embracing the spirit of our G20 leadership ‘Sabka Saat Sabka Vikas,’ together for inclusive growth,” Kamboj added.

She further highlighted that the International Monetary Fund (IMF) acknowledged the benefits of India’s digital journey in its working paper. “India’s journey provides powerful insights for nations embarking on digital transformations, advocating a design approach centered on shared building blocks to foster innovation across ecosystems,” Kamboj elaborated.

Sharing the story of Geeta, a tailor from Khurja, Uttar Pradesh, Kamboj painted a vivid picture of how India’s digital advancements have transformed lives. “Geeta, a mother of two and a tailor, never had the opportunity to attend university. However, she dreams of a brighter future for her children,” Kamboj narrated.

Describing Geeta’s transformation, Kamboj highlighted her journey from traditional banking to digital payments through the United Payments interface (UPI), facilitated by India’s digital infrastructure. “Now, Geeta is a successful businesswoman empowered by the digital age, realizing her dreams and contributing to India’s vibrant economy,” Kamboj concluded, emphasizing the transformative impact of India’s digital public infrastructure in turning aspirations into reality.