India’s Rapid Cashless Revolution: More Transactions in a Month than U.S. in Three Years

In a recent interaction with the Indian community in Nigeria, External Affairs Minister S Jaishankar emphasized that India now conducts as many cashless transactions in a single month as the United States does in three years. This revelation underscores India’s significant embrace of technology in the realm of payments, transforming the way its citizens engage in financial transactions.

During the event, Jaishankar outlined five major examples illustrating the remarkable transformation of India over the past decade. He expressed his perspective on how the country has effectively dealt with challenges, achieved a robust economic performance, improved the lives of its citizens, garnered global attention, and demonstrated care for its diaspora.

Highlighting India’s economic prowess, Jaishankar proclaimed that the country is the fastest-growing economy globally. He pointed out that the business sentiment surrounding New Delhi has seen improvement, resulting in a surge of investments reaching unprecedented levels. Moreover, he drew attention to the extensive infrastructure development across the nation, from metros and roads to airports and railways, showcasing a dynamic and rapidly evolving economic landscape.

Addressing the handling of the Covid-19 pandemic, Jaishankar commended India’s resilience. Despite initial doubts about the country’s ability to cope with the crisis, India not only weathered the storm but also emerged as a global provider of essential medicines. He expressed pride in India’s proactive approach, stating that the nation not only tackled the challenges posed by the pandemic but also contributed significantly to global health efforts.

Jaishankar’s visit to Nigeria follows his participation in the Non-Aligned Movement (NAM) Summit in Uganda. During his stay in Nigeria, he is set to co-chair the sixth India-Nigeria Joint Commission Meeting (JCM), inaugurate the third edition of the Nigeria-India Business Council meeting, deliver a speech at the Nigerian Institute of International Affairs, interact with business delegates, inaugurate a bust of Mahatma Gandhi, and chair the regional conference of Indian heads of missions.

As India continues to make strides in technology, economics, and global cooperation, Jaishankar’s statements underscore the country’s commitment to embracing innovation and progress.

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