Ashwini Vaishnow: Homegrown Digital Payments Railway, UPI Worldwide: Ashwini Vaishnow to Startups

Indian startups should strive to develop lending solutions for micro, small and medium-sized enterprises (MSME) who can, like the Swanidhi government program, provide assistance quickly and with minimal paperwork, Union Minister of Electronics and Information Technology Ashwini Vaishnav said on Tuesday.

Vaishnav spoke at a startup conference in Digital India Week in Gandhinagar, Gujarat.

Minister urged startups to take home-grown digital payments railway, Single payment interface (UPI) around the world.

“I will ask all companies in the fintech, consumer space to take a look at this and make an effort to bring this to the world. Can we expand ONDC (Open Network for Digital Commerce) to make it the next UPI? Take a serious look at it and see if it can be a great platform. We believe this could be the next UPI,” Vaishnav said.

Startup leaders like Varun Khaitan, co-founder of Urban Company; The event was attended by Rohan Verma, CEO of MapmyIndia, and Srinath Ramakrishnan, co-founder of Zetwerk, as well as senior executives from global companies such as Meta and Google.

Addressing the gathering, Rajiv Chandrasekhar, Minister of State for Electronics and Information Technology, said countries around the world have realized India’s entrepreneurial power.

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“The world has now also realized the entrepreneurial strength of India and many countries have shown interest in partnering with our homegrown startups and unicorns,” Chandrasekhar said.

He also coined the slogan –
“Saare Jahan Se Achha, Digital India Hamara” – for digital India.

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