Bill Gates visit to India: How it will impact digital business in India

Indian Telecom and IT minister Ashwini Vaishnaw has been noted to mention 2023 as a landmark year for India and mentioned that the digital technology has come of age. He goes on to mention that India has built a unique framework for its digital economy that is focused on making a difference in people’s lives. Artificial Intelligence, 5G technology and quantum computing are all becoming mainstream.

During his recent visit to the Indian subcontinent, Bill Gates met with the Indian prime minister to discuss more on topics like education, healthcare, and climate change. At the G20 session on Building Resilient and Inclusive Economics, New Delhi, Bill Gates said “No country has done more to build a comprehensive platform than India,”

Last couple of weeks the Indian digital world has been busy attending and meeting one of the world’s most famous technology business expert, Bill Gates. Bill Gates was applauding and praising India’s digital network, its overall digital connectivity and fintech sector.

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Commenting on India’s digital network, Gates mentioned India will have the cheapest 5G market in the future.

On 5G connectivity

Gates praised the country for its work to lay the groundwork for the digital public infrastructure. He mentioned in his speech that India has accomplished this by first starting an identity system which offers people the opportunity and allows people to build on top.

When speaking about India’s 5G connectivity, Gates said “One thing that India has that is fantastic is you have a great digital network, you have a very high percentage of people using smartphones. You have opened transactions also with feature phones” adding further that “The connectivity has been very good, it is very reliable, it is the cheapest in the world. And the same thing is going to happen in 5G. There is no doubt this will be the cheapest 5G market.

The Microsoft co-founder and global inspiration, Gates was appreciating India’s competitive private market in the telecom sector that is reliable, offering low-costs and high connectivity.

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On financial market

Another area in the digital infrastructure system has been the digital financial system and digital financial access across the country from rural to urban sectors. Considering the QR code payment system that is widespread and the multiple schemes by state and central government along with RBI that are aimed to offer digital financial independence to the remotest corners of the country, Gates stated that this is only the beginning for the country.

Considering his comments on the fintech sector, Bill Gates also took time to visit the urban digitized community in Bengaluru where he met with various leading start-ups founders including the likes of Zerodha founders Nitin Kamath and Nikhil Kamath. Gates also met with Wipro Chairman Rashib Premji.

In one of his social media posts, Gates noted his trip to Bengaluru as In Bangalore, I visited the urban community of Halasuru to learn about how digital banking can help reach poor and underserved communities. It was interesting to see how postal workers are now bringing banking services directly to doorsteps through @IPPBOnline”

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The larger Indian community meet up

Bill Gates also made sure to catch up with some of India’s leading influencers like Prajakta Kohli for her talk show #RealTalkTuesday and with Bengaluru based Youtuber Shraddha who is infamously known as Aiyyo Shraddha.

Making note of this meet-up with Shraddha, Gates wrote for her – “@AiyyoShraddha, a very funny comedian, joined me for the tour of the urban health centre. She and I had a wonderful talk afterwards about India’s goal of reducing TB and how Mumbai has been a leader in trying new approaches.”

He met with cricketers like Sachin Tendulkar, youngest bridge champion Anshull Bhatt, industrialists Anand Mahindra and with a few Union Ministers.

At the end of his trip, he poured his heart out over social media by sharing a series of photos and memories from his India trip stating that he ‘can’t wait to go come back to India’. In this nostalgic post, Gates mentioned that his trip to India this 2023 was awe-inspiring and made him feel optimistic about the future. He also gave due mention to the power of innovation in the country, the science behind it, and how collaborations are a way to find solutions to the world’s most pressing issues in health, climate, and development.

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How this will impact India?

Considering the world’s who are not following every move of the co-founder of Microsoft and consider him a true inspiration, this trip of Bill Gates to India is only bound to bring in more attention to our already flourishing, expanding and innovative fintech sector and overall digital infrastructure growth. It will lead towards more:

-job creation as the international layers enter India,

-more foreign investments in Indian Start-ups and businesses,

-an increase in partnerships with central and state governments to expand the industries and outreach along with an overall increase in conversations about Indian digital infrastructure development in public and private sector.

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