IMF Working Papers

Stacking up the Benefits: Lessons from India’s Digital Journey

ByCristian Alonso, Tanuj Bhojwani, Emine Hanedar, Dinar Prihardini, Gerardo Uña, Kateryna Zhabska

March 31, 2023

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Format: Chicago

Cristian Alonso, Tanuj Bhojwani, Emine Hanedar, Dinar Prihardini, Gerardo Uña, and Kateryna Zhabska. "Stacking up the Benefits: Lessons from India’s Digital Journey", IMF Working Papers 2023, 078 (2023), accessed 12/6/2025, https://doi.org/10.5089/9798400240416.001

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Foundational digital public infrastructure (DPI), consisting of unique digital identification, payments system and data exchange layer has the potential to support the transformation of the economy and support inclusive growth. India’s foundational DPI, called India Stack, has been harnessed to foster innovation and competition, expand markets, close gaps in financial inclusion, boost government revenue collection and improve public expenditure efficiency. India’s journey in developing a world-class DPI highlights powerful lessons for other countries embarking on their own digital transformation, in particular a design approach that focuses on shared building blocks and supporting innovation across the ecosystem.

Keywords: digital ID, digital payments, Digitalization, govtech