During the B20 Summit 2023 the official G20 dialogue forum for the global business community, Michael Miebach, the CEO of Mastercard, said digital transformation has emerged as a driving force for India’s economic growth. The country has harnessed the potential of digital public infrastructure to bring people into the digital economy, making it one of the world’s largest digital economies, he explained.
“That is a tremendous opportunity,” Miebach, noted. “This statistic not only reflects India’s digital prowess but also its potential to further revolutionize the global digital payments landscape.”
“We are on this journey for over 40 years now. We keep investing, bringing more talent here, and localizing our solutions. Being present in India and innovating for the nation, while simultaneously expanding beyond its borders, presents a tremendous opportunity for companies like Mastercard,” Miebach added.
Michael Miebach acknowledged that in India, the government-owned companies worked harmoniously with private entities, and this aspect has contributed to the country’s success. This partnership has also facilitated the development of a robust digital ecosystem, paving the way for innovations that benefit both the government and businesses.
India’s digital revolution isn’t limited to urban areas; it extends to rural regions as well. Telecom company, Airtel, for instance, enables women entrepreneurs in rural India to become agents for the company.
