Listing out advantages to economy because of Aadhaar, he said, "“Our nation would probably be the first country in the world to have a data empowerment infrastructure for its people".
Speaking at the Future Global Digital Summit in Kochi, Infosys boss Nandan Nilekani said that Aadhaar and digitalization had created a “data empowerment architecture” in India.
Elaborating the advantages of being data oriented, he said, "Indians will be data-rich before they are economically rich, unlike in the West. This will help them create business models that can “empower them to use their plentiful data they generate” to get easier credit, better healthcare, better skills and welfare benefits."
Nilekani further added, “If you are data-rich before you are economically rich, or you are a small business that is data-rich but doesn’t have access to capital, you can take your data and monetise it for yourself – not for somebody else, but for yourself – to get credit, or better healthcare, better skills.”
Listing out advantages to economy because of Aadhaar, he said, "“Our nation would probably be the first country in the world to have a data empowerment infrastructure for its people".
He is also confident about the government winning the case against the Supreme Court regarding the need of Aadhaar card for withdrawing pension.
Around 1.2 billion people in India hold Aadhaar card at present. According to Nilekani, about 300 million new bank accounts got registered in last three years. “India as a country has the most advanced digital infrastructure,” he said.
“A massive leap in the payment system is happening in the country now,” Nilekani said. The National Payment Corporation of India (NCPI) brought a revolution in the payment system by launching unified payments interface (UPI) three years back. Before demonetisation, UPI was doing around 1 lakh transactions which have now increased to 172 million. Google Tez, WhatsApp, PhonePay and Paytm are giving new life to the payment system; Reliance will soon enter the space. Mobile wallet companies like MobiKwik will also come under UPI in future.
On GST, he said 10 million new businesses got registered in the goods and services tax (GST) regime. Also, billions of more invoices will be uploaded in the coming years.
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 "Selling of data can help Indians to have better healthcare, says Nandan Nilekani")
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