Siddharth Mehta talks about the digital transformation

Pandemic has a significant impact on the market and speeds up India's digital transformation. Over the past ten years, India has built up its digital infrastructure to the point where more than half of the population now engages in digital activity on a daily basis, helping it to overcome the challenges posed by its underdeveloped physical infrastructure. In India, everything is becoming more and more digitally driven, including bank accounts, Know Your Customer (KYC) processes, regular transactions, government and educational services, and even COVID vaccines. In order to put things in perspective, India will account for over 25 billion of the world's real-time payment transactions in 2020. With almost 16 billion transactions in 2020, China came in second.

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In such a scenario, India may be seen as being on track to overtake the United States as the largest digital business hub in less than two decades. COVID-19 is essential for helping India carry out its digitalization initiatives. It has served as an impetus for people to accept the digital economy. Since customers can only access goods and services and conduct business using digital activity, it has become incredibly important and relevant in every field and aspect of business.
 
 In the next three to five years, the entire situation of the company's digital transformation will be drastically changed thanks to the initiatives of several investors, including Siddharth Mehta, a former director of IL&FS.

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