G20 Chief Coordinator Harsh Vardhan Shringla said there will be a strong emphasis on technology, linked to digital public infrastructure during the G20 India’s presidency.
He pointed out that one of the major takeaway is the central bank digital currency, through which even international media persons, who don’t have bank accounts in India will be able to get some money in their mobile wallets.
“In that context, we will have a few exhibitions at the Media Center… We have a Reserve Bank of India innovation hub which is again in the Media Center. And this innovation hub will display technologies that fintech has not yet been introduced to the public domain. These are still in the pilot stages,”Shringla said during a pre-summit press conference at the International Media Centre.
The press conference was attended by G20 Sherpa Amitabh Kant, Harsh Vardhan Shringla and Foreign Secretary Vinay Mohan Kwatra.
He further said that we assumed the presidency of the G20 on December 1, 2023, and we will conclude our presidency on November 30, 2024.
He further said that through the central bank digital currency, international media who do not have bank accounts in India will be able to get money in their mobile wallets to buy products digitally in the mela.
“One of them is the central bank digital currency, through which even international media who are here, who don’t have bank accounts in India will be able to get some money in their mobile wallets and will be able to use that digitally to buy products in our crafts mela…,” Shringla said.
Taking India’s G20 Presidency as an opportunity to showcase the country’s digital public goods to the world and its ‘Digital India’ initiative, the central government has decided to provide hands-on experiences to around 1,000 visiting foreign delegates with UPI wallets technology, besides explaining them about ease of making payments through the indigenous solution.
Moreover, emphasizing on the diversity in crafts mela, Shringla added, “Each crafts mela will represent different state or union territories of india. We will have a QR code compatible with your mobile wallet, the digital cuirrency and with the UPI.”
He further said noted that around 2000-3000 International and domestic media will be there at the media center.
“We are expecting to host between 2000-3000 International and domestic media here at the Media center. It would be a state of the art media centre with over 13000 work stations, high-speed internet…,” he added.
Earlier, a government official told ANI, “Foreign delegates or participants will be given Rs 500-1,000 in their UPI wallets for doing UPI transactions,” adding it has earmarked around Rs 10 lakhs for it.
Unified Payments Interface (UPI) is India’s mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (VPA) created by the customer.
India has emerged as one of the fastest-growing ecosystems for fintech innovation and the government and the central bank have been instrumental in driving the globalisation of India’s digital payment infrastructure. A key emphasis of the Indian government has been on ensuring that the benefits of UPI are not limited to India only, but other countries, too, benefit from it.
earlier today, World Bank has said India’s Digital Public Infrastructure has had a transformative impact, extending far beyond just financial inclusion. The international financial institution in a document applauded India, stating what the country has achieved in just six years would have otherwise taken about five decades.
India has developed some of the finest digital public goods infrastructure which could change lives the world over. UPI, Jan Dhan, Aadhar, ONDC, and CoWin are some of the examples.
India is all set to host the G20 Summit in New Delhi on September 9-10.World leaders will arrive in New Delhi to attend the G20 Summit. The summit will be hosted at the state-of-the-art Bharat Mandapam Convention Centre at Pragati Maidan, New Delhi.
The government today also launched the ‘G20 India’ mobile app for seamless and smooth functioning with Indian and foreign delegates. The G20 India mobile app having all member countries’ language options will help delegates access UPI and navigation facilities during the summit.
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