The Economic Times

India must leverage its digital verification architecture to evolve into a trust-based economy

India faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this issue. The nation must shift towards a trust-based system by rewarding responsible conduct. Leveraging digital infrastructure like Aadhaar and UPI offers a path to reduce friction and build trust. This transition aims to create a transparent, rules-based economy.