Unified data highway can unlock USD 3-4 trillion annually for emerging nations by 2030
Oct 04, 2024
New Delhi [India], October 4 : Digital Public Infrastructure (DPI) has become a critical enabler of inclusive growth particularly for emerging economies.
India's focus on DPI with its path-breaking initiatives like Aadhar for digital identity and UPI for digital payments are great initiatives supporting inclusive growth through DPI, said a joint report titled "Unified Data Highways" by Japan International Cooperation Agency (JICA) and Boston Consulting Group (BCG).
The report notes that unified data highways (UDH), the next frontier of digital public infrastructure will unlock an economic value of USD 3-4 trillion per annum for emerging nations by 2030.
Unified data highways is poised to revolutionise the future of responsible data sharing globally.
It has already shown remarkable potential in many sectors and unlocked substantial economic and social value. India's initiatives like Digilocker and Ayushman Bharat Digital Mission have seamlessly integrated government services and personalised health care.
Digital delivery of government services, agri-tech advisory services to boost farmer productivity and income, and optimising household energy usages are making notable impacts.
The BCG-JICA report says the road ahead for data sharing through unified data highway is even more promising and the value generated from UDHs will be 5-6 per cent of emerging economies' projected GDP annually by 2030.
"Unified Data Highways are set to redefine how we harness data, unlocking unprecedented economic and social benefits. The key to their success lies in building them with a clear vision, supported by robust governance, innovative technology, and strong partnerships," said Saibal Chakraborty, BCG Managing Director and Partner, and lead author of the report.
Digital Public Infrastructure (DPI), as defined at the G20 2023 conference, is a set of shared digital systems that are secure and interoperable, built to provide equitable access to public and private services at scale.
"The key lies in fostering collaboration, establishing sustainable models, and upholding the highest standards of privacy and data governance," said Yushi Nagano, the Head of the JICA DX Lab.
The joint report sought to guide policymakers, industry leaders, businesses, donor agencies, and other stakeholders on how to effectively leverage UDH to unlock significant economic and social value.
