Saturday, February, 15,2025

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India's digital capital increased entrepreneurship, business income: World Bank

New Delhi: The World Bank in its latest report has recognized India's increasing digital capital as a significant driver of entrepreneurship, business income, and social mobility, especially benefiting small-scale vendors and economically lagging districts.
In a recent report, the institution outlined how digital technologies--such as the internet, mobile phones, and social media--are transforming the socio-economic landscape in the country.
It said "digital capital has increased entrepreneurship and business income in India and has favored small-scale vendors and economically lagging districts".
The report noted that Digital technologies provide students from disadvantaged backgrounds with access to instructional material, promoting talent development and social mobility.
These tools have also enabled individuals to build digital footprints--records of online activity and payments--which can serve as digital capital. This capital helps individuals establish financial credibility, as data on payments, receipts, taxes, and loan repayments can now be used by lenders to assess creditworthiness.
The report credits Nandan Nilekani, one of India's leading tech entrepreneurs, for pioneering the Aadhaar system in 2009. This digital identification initiative has allowed millions of Indians to accumulate digital capital and integrate into the formal economy.
The World Bank also highlighted India's remarkable strides in social mobility, particularly in urban areas. Since the country's economic liberalization, the gains have been more pronounced among disadvantaged communities in cities compared to rural areas.
It said "In India, social mobility has improved greatly in urban areas in recent decades, and has delivered larger gains for the disadvantaged than in rural areas".
It also noted that India's IT revolution has played a crucial role in this transformation. Tata Consultancy Services (TCS) demonstrated to the world the availability of high-quality, cost-effective talent in India, becoming the first Indian company to export computing services to the United States.
The report also mentioned Infosys, founded by a group of former IBM engineers with their savings, further showcased India's IT potential, emerging as a global leader in technology consulting.
The report highlighted how leveraging digital technologies and talent has not only bolstered entrepreneurship but also fostered inclusivity, bridging gaps for underserved communities and reinforcing India's position as a global technology powerhouse.

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Daily Astro

15-02-2025

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Aries

Today brings opportunities for growth, but you'll need to stay focused. Trust your instincts to navigate challenges.

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Pisces

Your intuition will guide you. Trust your feelings and explore creative outlets for peace of mind.

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Aquarius

Innovation is your theme today. Explore unconventional ideas to solve lingering problems.

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Capricorn

Hard work pays off today. Your dedication and discipline will lead to well-deserved recognition.

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Sagittarius

Adventure is calling! Embrace new opportunities, but keep a balanced approach to risks.

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Scorpio

Your determination will be unmatched. Dive deep into tasks, but don't forget to take breaks to recharge.

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Libra

Harmony in relationships is your priority. Compromise and understanding will strengthen your bonds.

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Virgo

Focus on organization and details. A well-planned day will lead to productive results and personal satisfaction.

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Leo

Leadership will come naturally. Take charge of situations but remain humble for the best outcomes.

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Cancer

Emotional balance is key today. Spend quality time with loved ones to find comfort and clarity.

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Gemini

Today is perfect for networking and sharing ideas. Your adaptability will help you tackle unexpected changes with ease.

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Taurus

Patience will be your strength today. Financial matters might need attention, so think twice before making big decisions.

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15-02-2025