India lags on per capita digital transactions, but is on the track

A useful metric to measure the growth of digital transactions is per capita data. Our metric has shown a significant growth – to 22.42 digital transactions per capita at close of FY19 from 2.4 such transactions in  FY14. 

The Nandan Nilekani report on Deepening of Digital Payments says this metric can grow by a factor of 10 in three years; and the authorities should aim for 220 by FY21. Even so, we would still trail Singapore’s standing on this aspect at 782 in calendar 2017, Sweden at 497.9, the US at 473.6; and only be ahead of the Eurozone at 186.8.