Bill Gates Keen To Invest In Digital Payment Start Ups In India

by CXOtoday News Desk    Nov 18, 2016

Bill Gates

Bill Gates, co-founder of American technology giant Microsoft is very much impressed with the digital revolution in India. Gates has expressed his interest in investing in the technology driven social projects such as e-health, e-agriculture and e-payment startups. Gates who met IT minister Ravi Shankar Prasad in the capital on Thursday said thatagriculture was huge market to explore as it still employees the majority of Indian workforce. 

Gates, who is also a co-founder of the Bill & Melinda Gates Foundation, talked about how over the last half century India has made amazing progress through Green Revolution. He said that addressing these challenges and achieving the government’s vision of doubling farmer income by 2022 will require advances in science and technology to boost productivity. 

“Its very exciting times in India and some of these digital platform opportunities are quite amazing. The government has invested in manpower, it has invested in payment banks, and the payment infrastructure, so now is the case for building the applications on top of those, we need to work on the health issue, agriculture applications, etc,” said Gates after his meeting with Prasad. (Click here to read full report)

He added that his foundation is very committed to working on some of these areas and their relationship with the ministry of electronics and IT will be a very critical task. Gate isexcited about developing apps for the two platforms, showing a lot more interest in e-payment platforms in India. He discussed developing apps around e-payment and talked about how more payment banks need to come up in India. 

Praising the government for being able to get a billion people on Adhaar, Gates also discussed how the government should look at connecting the soil health to the unique identity which can help developers to build apps that will help make a farmer’s life much easier.  Gates also hailed government’s move to demonetise high-value denomination notes saying it will help to bring a more transparent economy. 

Prasad said that Gates knows India very well and is committed to partnering with the government. “I disclosed to him the entire architecture of Aadhaar, Aadhaar enabled payments that we have created, we also looked into digital health, and also gave him the whole outline of Digital India,” said Prasad.

(Image Courtesy: edu.163.com)