Gates calls India’s digital finance approach a global model

Bill Gates at a conference on October last year, in Lyon, central eastern France. — Ludovic Marin/POOL/AFP

Tech pioneer Bill Gates praised India’s policies for financial innovation and inclusion, saying his philanthropic foundation is working with other countries to roll out open-source technologies modelled on the country’s implementation.

India has built ambitious platforms for universal identification and digital payments, including the world’s largest biometric database and a system for sending rupees between any bank or smartphone app. Gates said those policies have drastically reduced the cost and friction of distributing aid to the poor, especially during the pandemic.