India Stack: A Sunrise Opportunity

India Stack is no longer exclusively available in India. The vision of India Stack is not limited to one country (India); it can be applied to any nation, be it a developed one or an emerging one.The government of India is currently looking for certified Stack Developers

India Stack is the collection of Application Peripheral Interfaces launched by the Government of India. This includes BHIM, Digilocker, UPI, and several other applications. According to a recent report from the IT Ministry around seven countries are to join India Stack. Meaning they will sign agreements with the Indian Government to use these applications. India is to announce the names of these countries at the World Government Summit that is to be held in Dubai in February.

About India Stack

India is planning to export its digital products. Today the digital infrastructure market has huge potential. Several APIs of the Indian Government such as BHIM, Co-WIN, and Aadhaar has been a huge success. Recently, the GOI launched the U-WIN platform based on the success of the Co-WIN. BHIM is being used in Bhutan, Singapore, Thailand, Malaysia, South Korea, Hong Kong, Taiwan, Cambodia, and Japan. Nepal was the first to implement UPI.

India Stack initiative integrates various technological components to create a holistic and inclusive digital infrastructure in India. Designed to simplify transactions, empower citizens, and bridge socio-economic gaps, India Stack has revolutionised how Indians interact with their government, businesses, and each other. The initiative aimed to harness the power of technology to bring services to the fingertips of every Indian, regardless of their socioeconomic background.

Components of India Stack

1. Aadhaar Identity System

At the heart of India Stack lies the Aadhaar identity system – a 12-digit unique identification number issued to every resident of India. This biometric-based system, linked to an individual’s demographic and biometric information, serves as a foundation for multiple applications across various sectors.

2. Unified Payments Interface (UPI)

UPI, a real-time payment system, enables users to send and receive money instantly using smartphones. This innovation has revolutionized digital payments in India, making peer-to-peer transactions simple, secure, and efficient. UPI has spurred the growth of mobile wallets, payment apps, and digital banking, transforming the way Indians conduct financial transactions.

3. Digital Locker (DigiLocker)

DigiLocker is a cloud-based platform that allows citizens to store, access, and share their official documents and certificates digitally. This eliminates the need for physical documents and enhances convenience in accessing government services, educational records, and more.

4. eSign

eSign facilitates legally binding digital signatures, enabling citizens to sign documents electronically, eliminating the need for physical paperwork. This has streamlined processes in sectors like finance, insurance, and government services.

5. eKYC (Know Your Customer)

eKYC utilizes Aadhaar’s biometric authentication to verify an individual’s identity for various services, reducing the time and effort required for identity verification. This has expedited processes in areas like opening bank accounts, availing loans, and obtaining SIM cards.

6. Consent Architecture

The Consent Architecture of India Stack allows individuals to control the sharing of their personal data with service providers. This feature empowers users by granting them the authority to determine who can access their information and for what purpose, ensuring privacy and security.

Impact of India Stack

1. Financial Inclusion

India Stack has played a pivotal role in advancing financial inclusion by bringing previously excluded populations into the formal financial system. The simplified digital payment methods and paperless transactions have enabled even remote and rural areas to access banking services.

2. Ease of Doing Business

For businesses, India Stack has eliminated bureaucratic hurdles by digitizing documentation processes and enabling online verification. This has reduced the time and costs associated with regulatory compliance and administrative tasks.

3. Healthcare and Welfare Schemes

India Stack has revolutionised the delivery of healthcare and welfare services. By digitising medical records, beneficiaries of government health schemes can easily access their information and avail services. Direct benefit transfers (DBT) have also become more efficient, ensuring subsidies and benefits reach the intended recipients directly.

4. Innovation and Startups

The open architecture of India Stack has spurred innovation and the development of new applications and services. Startups have leveraged these components to create solutions that address various challenges faced by Indian society, such as education, agriculture, and healthcare.

Challenges and Concerns

While India Stack has brought about significant positive changes, it has also sparked debates regarding privacy, security, and the potential for misuse of personal data. Striking a balance between harnessing technology for societal progress and safeguarding individuals’ rights remains an ongoing challenge.

Future Prospects

The success of India Stack has inspired other countries to explore similar digital infrastructure models. As technology continues to evolve, India Stack is poised to further enhance its capabilities, ensuring that more citizens can leverage its benefits.The government of India is currently looking for certified Stack Developers. The plan is to hire them just as the big giants like Microsoft and Google hire certified analysts. The Stack developers will be integrated into the system and will help GoI in taking them to other countries.