United Nations General Assembly President Dennis Francis has praised India’s effective utilization of digitalization to achieve financial inclusion and reduce poverty, emphasizing that this provides the country with a “comparative advantage” and its experiences can be shared globally.
During an exclusive interview with PTI, Francis, who presides over the 78th session of the UN General Assembly, commended India’s use of digitalization, referencing the country’s tourism tagline, ‘Incredible India.’ He highlighted India’s successful implementation of digitalization to alleviate poverty and integrate millions of individuals into the formal economic system, simply through the use of digital technology.
Francis applauded the role of digitalization in enhancing productivity, reducing costs, and making economies more efficient. He specifically mentioned how digitalization has empowered Indian women and farmers across the country to negotiate prices, access banking services, and make payments from their homes or farms.
Recognizing India’s comparative advantage in digitalization, Francis emphasized the importance of sharing India’s lessons with the international community. He also noted his impression of India’s significant investments in infrastructure development during his recent visit to the country.
According to Francis, infrastructure development is a key driver of economic growth as it generates demand for materials, labor, and inputs, thereby creating employment opportunities. He underscored the multiplier effect of infrastructure investment, which accelerates economic growth.
While highlighting the importance of sustainable infrastructure development, Francis emphasized the need to build infrastructure resilient to extreme climate events. He emphasized that sustainable infrastructure minimizes economic disruptions and facilitates quicker recovery from external shocks.
Francis announced the UN’s inaugural “Sustainability Week” scheduled for April 15-19, aimed at promoting sustainability across critical sectors such as tourism, infrastructure, transport, and energy. The week will align with the 2030 Agenda for Sustainable Development, fostering progress towards a more sustainable future.
India’s Permanent Representative to the UN, Ambassador Ruchira Kamboj, previously highlighted the significant impact of financial inclusion on social and economic empowerment in India. She noted the remarkable growth in bank account ownership, digital payments, and mobile phone penetration in the country, reflecting India’s progress in financial inclusion.
