1. India has seen explosive growth in digital payments post demonetisation: Google VP

India has seen explosive growth in digital payments post demonetisation: Google VP

The Google has today said that that the digital payments in India has increased much more than expected.

By: | New Delhi | Updated: January 4, 2017 8:58 PM
The company's vice president in South East Asia and India Rajan Anandan said that the country has seen explosive growth in digital payments. (ANI) The company’s vice president in South East Asia and India Rajan Anandan said that the country has seen explosive growth in digital payments. (ANI)

The Google has today said that that the digital payments in India has increased much more than expected. The company’s vice president in South East Asia and India Rajan Anandan said that the country has seen explosive growth in digital payments which can be seen from the download of BHIM app which has crossed 5 million.

Earlier in the day, in order to further tap into the small and medium businesses (SMBs) market in India, Google’s India-born CEO Sundar Pichai came out with several new initiatives to help these enterprises go digital.

He said that the company is working on products for India that can be expanded globally. Speaking at a company’s event in the national capital, Sundar Pichai said that when Google solve for a place like India, it solve for everyone around the world. That has led the global firm to grow team in India and spend more time and ensure the products are useful for everyone. Adding that SMBs in the country are a growth driver for India’s economy, he said it was important that they have the right skills for digitisation. It is important for Google to invest in training and equipping those people to accelerate their journey of growth.

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As per a joint research by Google-KPMG , nearly 68 per cent of the Indian SMBs are offline. It also said that the increasing Internet penetration and greater uptake for digital by SMBs might help raise their contribution to India’s GDP by 10 percentage points, taking it up to 46-48 per cent in next three years.

As per a joint research by Google-KPMG , nearly 68 per cent of the Indian SMBs are offline. It also said that the increasing Internet penetration and greater uptake for digital by SMBs might help raise their contribution to India’s GDP by 10 percentage points, taking it up to 46-48 per cent in next three years.

(With inputs from PTI)

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