India Signs MoU with Trinidad and Tobago on Sharing INDIA STACK

Aditi

2 years ago

India and Trinidad and Tobago have entered into a Memorandum of Understanding (MoU) to collaborate on sharing INDIA STACK, a comprehensive set of open APIs and digital public resources designed to streamline identity, data, and payment services on a significant scale.

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The agreement was established following discussions between Shri Rajeev Chandrasekhar, the Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT, and Trinidad and Tobago’s Minister of Digital Transformation, Senator Mr. Hassel Bacchus, during their meeting last week.

More About the News

The two nations have agreed to collaborate extensively in the realm of digital transformation, focusing on enhancing capacities through training programs, sharing best practices, exchanging experts and public officials, as well as developing pilot solutions.
Their discussions encompassed areas such as IT, emerging technologies, and the utilization of India Stack.
This collaboration is expected to foster a thriving ecosystem for startups, developers, and system integrators, promoting innovative ventures in the realm of Next-Gen technology.

The MoU was formalized in the presence of representatives from India’s Ministry of Electronics and IT (MeitY), the National E-Governance Division, as well as the Ministry of External Affairs.

MoUs with other Countries

India has been actively engaging with various countries to share India Stack since June 2023.

Memorandums of Understanding have already been signed with Armenia, Sierra Leone, Suriname, Antigua & Barbuda, and Papua New Guinea.
Several other nations, including Mauritius and Saudi Arabia, have expressed interest and are in the advanced stages of finalizing their cooperation with India Stack.
The Unified Payments Interface (UPI), which is a part of India Stack, has also been adopted by countries like France, UAE, Singapore, and Sri Lanka, indicating the growing global acceptance and relevance of this initiative.

What is INDIA STACK?

India Stack is a set of open APIs and tools that are designed to make it easier for governments, businesses, and individuals to use technology to solve problems. It is a collection of digital building blocks that can be used to create a variety of applications and services.

Key Components

Aadhaar: Aadhaar is a 12-digit unique identification number issued by the Government of India to all residents of India. It is the world’s largest biometric identification system.
DigiLocker: DigiLocker is a cloud-based platform that allows individuals to store their important documents, such as driving licenses, passports, and birth certificates, in a secure digital format.
eSign: eSign is an electronic signature service that allows individuals to sign documents electronically. It is a legally valid way to sign documents.
UPI: UPI is a real-time payment system that allows individuals to transfer money between bank accounts instantly.
GSTN: GSTN is a Goods and Services Tax Network that is used to collect and administer Goods and Services Tax (GST) in India.

India Stack is a powerful tool that can be used to solve a variety of problems. It has the potential to revolutionize the way governments, businesses, and individuals interact with each other.

Benefits

It can help to reduce corruption: India Stack can help to reduce corruption by making it easier for governments to track and manage public funds.
It can help to improve efficiency: India Stack can help to improve efficiency by making it easier for businesses to do things like file taxes and get permits.
It can help to increase transparency: India Stack can help to increase transparency by making it easier for people to access information about government services and programs.
It can help to empower citizens: India Stack can help to empower citizens by giving them more control over their personal information and by making it easier for them to access government services.

India Stack is still under development, but it has the potential to make a significant impact on India. It is a major step towards a more digital and efficient government.

Significance

Prime Minister Shri Narendra Modi, a proponent of the belief that “Vasudhaiva Kutumbakam”, has consistently advocated for the widespread sharing of India Stack with nations around the world. This initiative is particularly aimed at assisting countries that may have lagged behind in their digitalization endeavors.

By harnessing the capabilities of India Stack, these nations have the potential to swiftly ascend the digitalization spectrum, leading to significant advancements in their economies and governance structures. Prime Minister Modi’s vision aligns with fostering global collaboration and empowerment through digital innovation.

Aditi

Hello, I’m Aditi, the creative mind behind the words at Oliveboard. As a content writer specializing in state-level exams, my mission is to unravel the complexities of exam information, ensuring aspiring candidates find clarity and confidence. Having walked the path of an aspirant myself, I bring a unique perspective to my work, crafting accessible content on Exam Notifications, Admit Cards, and Results.

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