However as on date the Total Value of our Digital Transactions was $ 270 Billion for the year 2020 – 2021 compared to $ 1.46 Trillion for China and $ 2.26 Trillion for the United States of America
So despite the higher number, our total value of Digital Transactions is woefully low.
So these kind of questions like defeating US is embarrassing
Why start celebrating what is a decent achievement as if it is a New Deal type of pathbreaking achievement?
This is what keeps us Mediocre
Based on SBIs Digital Transactions and generalizing them
- Over 60% of the Digital Transactions were EMI Repayments using UPI which dont have any economic value or contribution
- Only 40% of the Digital Transactions were commercial and retail oriented but their average value is far less than other countries , for example the value of $ 6.41 per retail transaction is very low
Still the fact that so much Digital Transactions are occurring is a good sign
Just Nothing to celebrate or claim to defeat US or China yet