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India has rocked the world in digital payments: US Ambassador to India, Eric Garcetti

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United States Ambassador to India Eric Garcetti recently praised India’s achievements in digital payments and financial technology. While speaking at the Confederation of Indian Industry (CII) roundtable, Garcetti said, “When I look at digital payments and financial tech that India has, we have rocked the world. A ‘tea wala’ in a village makes sure that she gets direct payment from the govt on her phone, a 100% of each one of those rupees… I recently had a dinner with a group of multi-faith leaders in India, one of them said “We hear all these talks about 4G, 5G and 6G, but here in India we have something more powerful than that-‘Guruji”, ANI quoted him as saying at an event.”

It comes after India showed significant growth in digital payment transactions in the recent business calendars. From 2,071 crore transactions in FY 2017-18, India has achieved 8,840 crore transactions mark in FY 2021-22.

On reaching the milestone, MyGovIndia Twitter page said, “India keeps dominating the digital payment landscape with innovative solutions and widespread adoption, we’re leading the way towards a cashless economy.”

As seen in the image, Brazil comes second which amounted to just 29.2 million transactions, subsequently followed by China with 17.6 million transactions.

On number 4 is Thailand with 16.5 million digital transactions followed by South Korea with 8 million worth of transactions, as per the data shown by MyGovIndia.

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