29th May 2023, New Delhi While Analysts are reviewing various schemes and programs of Govt. of India on completion of nine years of Modi Govt. in center, Analyst 5 Jewels Research (5JR) believes that India Stack which is a product of ‘Digital India’ Program of Govt. of India has potential to become one of the World’s largest digital brand. Various public digital infrastructure platforms like Aadhaar, UPI (United Payments Interface), DigiLocker, ONDC (Open Network for Digital Commerce), Ayushman Bharat Digital Mission (ABDM) are when stacked and integrated together then technically it termed as India Stack.
While ‘Aadhaar’, the national identity program of India, was under formation since year 2009-10, other public digital infrastructure platforms were initiated as part of Digital India program, which was launched in year 2015 by Modi Govt.
While giving his opinion on completion of nine years of P.M. Modi Govt. on 26th May 2023, Chief Analyst of 5 Jewels Research Mr Sumant Parimal said “Digital India Program which was launched under the leadership of P.M. Modi in year 2015 is not only creating various digital infrastructure platforms like UPI, ONDC, DigiLocker for digitally transforming India’s governance and citizen lives, but it is also churning out digital product brand under unified frameworks of India Stack, which has potential to become one of the largest digital brand of the World. Brand value of digital products and digital platforms are directly dependent on factors like uses cases, scalability, usability, adoption, global demand, underneath data volume, algorithms, and innovative IPs (Intellectual Property) along with high level patronages for its wider success. And when we see various public digital infrastructure platforms of India, which together forms India Stack, we find that all these factors and along with many other factors are in favorable conditions for positioning India Stack as one of the World’s largest digital brand”.
“While country is aspiring for achieving $10T+ GDP, making India top three economies of the World in years to come and with already ranked as top five global economy, but in term of consolidated brand valuation of Indian brands, India is still far behind at position nine in global ranking, with an estimated consolidated brand valuation much below half trillion$ mark. With help of Digital India-India Stack and other digital- tech. brands of Indian startups and enterprises, it may be possible for India to get ranked among top three consolidated brand valuation country in par with U.S., China, and Japan. Thus, I see India Stack as one of the strongest emerging Indian brand having potential to become world’s largest digital brand, which I further see as one of the biggest accomplishments of Modi Govt.” Sumant Parimal said.
Point to be noted here that components of Indian Stack like UPI digital payment platform are already in Global demand, and recently countries like Singapore, Bhutan, UAE, Mauritius, Indonesia already expressed their interests for integrating with UPI platform of India.