Data empowerment will help all: Nandan Nilekani

The Economic Times
April 23, 2019

Data is becoming central to people and governments across the world and data empowerment architecture in India would benefit all segments of the economy, said Nandan Nilekani, cofounder and chairman, InfosysNSE 1.13 %. Nilekani was addressing FICCI members at the National Executive Committee Meeting on ‘Digital India and its Impact on Economy and Industry’ in Bengaluru. 

Nilekani said Aadhaar has been a great enabler as a digital identity and India’s digital infrastructure would play a major role in reviving the economy. He said the country has witnessed dramatic transformation through Aadhaar-based eKYC and online payments. 

Once data becomes the basis for decision-making in many sectors, you will see a big change...Aadhaar was developed as the universal electronic KYC and this has been a very powerful feature. Today, both in the banking and telecom sector, the customer acquisition has been dramatically streamlined and sped up because of this eKYC. It has been a fundamental thing...All these things are really enabling people to do everything on the phone,” he said. 

While Aadhaar eKYC has been revolutionary in making life simpler for people, it has been the basis for direct benefits transfers in any segment, he said. 

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