India heading in digital commerce, GST e-way bills |
Forecasting India`s rise in the coming decade, Infosys Technologies co-founder and chairman Nandan Nilekani said on November 29 that India will witness significant economic activity over the next decade on the back of an open network for digital commerce (ONDC), record aggregating system, and government measures like GST, FAStag and e-way bills. Speaking at the 7th edition of the Global Technology Summit, he said, "There are three big things coming today, which will over the next decade have more of an impact (on India). I believe in the next 10 years India is going to see a significant economic activity which is broad-based, inclusive and democratized.” The first is ONDC, the second is the account aggregator framework and the third is the transformation happening in the logistics sector due to government initiatives like GST, FAStag, and the e-way bill, Nilekani said. Nilekani said he expects the ONDC -- an initiative of the government to promote an open platform for all aspects of the exchange of goods and services through electronic networks -- to begin soon. Account aggregator network which again fundamentally is an idea that data should ultimately be used by people who generate the data. So, individuals and small businesses can use the data to get access to multiple services like credit, etc. This record aggregating system is also a business for India`s data empowerment architecture. The transformation happening in the logistics sector due to government initiatives like GST, FAStag, and e-way bills have simplified the movement of goods and vehicles on the highways. Further, a variety of start-up innovators, local delivery and intercity delivery are going to change the movement and delivery of goods, he said.
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