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Infosys Co-Founder Nandan Nilekani Believes Crypto Will Help India Reach $5T SME Economy

Co_Founder_of_Infosys_believes_That_Cryptocurrencies_will_help_Closing
  • Nandan Nilekani says India needs $250 billion to close SME gap.
  • He believes that the growing popularity of cryptocurrency can close this gap.
  • India can become a $5 trillion Economy before 2025 ends.

Indian entrepreneur Nandan Nilekani has tweeted that the growing popularity of cryptocurrency in the country may be the key in closing India’s $250 billion funding gap. Notably, the gap is for the nation’s Small and Medium-Size Enterprises (SMEs).

According to Nilekani, if this happens, India will be able to become a $5 trillion economy before 2025 ends. Best of all, all the citizens in India can experience a smooth way of transferring funds with the help of cryptocurrency and its blockchain technology.

Also, Nilekani said this in response to a question “How does India become a $5T economy?”

In fact, India already has essential assets that can help attract global capital to achieve the $5 trillion economy. Moreover, these assets are mainly the country’s youth population. The youth are a key energy resource, drive growth via internet links, and more.

In addition, Nilekani stated that India’s growing adoption of cryptocurrency could even serve as a key factor. Even so, this can help successfully drive the $5T economy.

What is more, the $5T economy will serve as a risk-tolerant, globally oriented, and growth-seeking pool for investors. Also, to achieve this goal, IndiaStack has already developed a UPI, Aadhaar, and GST to connect the economy.

However, the Goods and Services Tax (GST), UPI, and Aadhaar help ensure that businesses are worthy of credit.

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Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.