Digital India Act draft is ready, will be out soon, says MoS Rajeev Chandrasekhar

He explained, "The framework would be agreed upon, the principles would be agreed upon, and there would be an agreement that India would host a global repository of DPIs. So, all the DPIs of the world, from various countries, could be consolidated in one place. This would make it easier for countries, especially those in the global south, to access and implement these technologies."

India's successful model has already garnered interest from nearly 18 to 20 other countries, demonstrating the growing global appetite for digital transformation. To meet this demand, India has been actively working on building the capacity and capability required to support these countries.

The minister highlighted India's commitment to fostering innovation and startups in the DPI space. He mentioned the establishment of the India DPI Developer’s Ecosystem, initiated almost a year ago, to encourage more startups to participate and assist countries in implementing DPIs effectively.

In addition to the Digital India Act, Chandrasekhar addressed another critical aspect of the government's digital agenda: cryptocurrency regulation. He mentioned the recognition of the need for a globally harmonised approach towards regulating cryptocurrencies, as emphasised in the New Delhi Declaration.

He stated, "Crypto is not just crypto, and there needs to be a globally harmonised approach towards regulating crypto." Chandrasekhar explained that central bank governors and finance ministers from different countries are expected to convene, possibly during the October 2023 meeting, to begin crafting a regulatory framework for cryptocurrencies. This aligns with the government's stance on crypto regulation dating back to 2021.