India is a pioneer of digitization

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  • As the world emerges from the COVID-19 pandemic, digitization is taking center stage, Anner-Marie Gulde-Wolfe, deputy director of the IMF’s Asia-Pacific department. “As is now well known, India has been at the forefront of digitization in recent years, especially in providing digital infrastructure. has been overcome,” she said.

“Asia and elsewhere have been severely scarred under Covid, with digitization promising to be one of the means to boost business productivity,” she said when asked.

“There is some empirical evidence for this. The Future Regional Economic Outlook includes a chapter looking at business productivity, and companies on the front lines of digital It has been shown to work in practice. Of course, there is still a long way to go. Further progress must be made in reducing the digital divide and increasing digital literacy,” she added.

The IMF has a program to look at digitalization and how it can help governments implement reforms. The IMF is also increasingly providing technical assistance in this area,  Gulde-Wolfe.

“But it’s absolutely true that we have to think about what else we can do, and we’ve talked about scarring before. So a lot of the issues that need to be addressed are on the structural side.” she said. “Given the level of debt, I don’t think there is much room for financial support,” she said.

She also said the IMF is working very closely with India on this, with the country at the forefront of digitizing government services, which is also being used to distribute profits during the pandemic. Responding to a question, Gulde-Wolfe said that in the global context, India remains a bright spot with growth of 6.1%.

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