Open Digital Ecosystems Can Unlock Opportunities Worth $700 Bn For India: Report

By | August 29, 2020

NODEs in sectors of talent, agriculture, small-medium businesses, can help close to 50-80 million additional Indians to find better-fit jobs, lead to 1.5x increase in farmers’ income
BENGALURU: As conversations around digital public infrastructure start to gain momentum, platformisation and National Open Digital Ecosystems (NODEs) can unlock economic opportunities worth $700 billion for India, according to a study by management consultancy BCG and impact investor Omidyar Network India (ONI).
Examples of NODEs in India include Aadhaar (or the India Stack project), Unified Payments Interface and Nandan Nilekani’s recently launched Open Credit Enablement Network (OCEN) which provides platformisation and opportunities for private firms to build on these ecosystems.
According to the BCG-ONI study, before 2030, 10 potential NODEs in sectors such as health, jobs and skilling, agriculture, justice and logistics, among others, can collectively create new value worth $500 billion, equivalent to 5.5% of India’s GDP and generate $200 billion in savings for the country.
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