Innovation is driving Indian economy: World Bank

NEW DELHI: Technological advancements are changing the way governments place themselves in front of their citizens in terms of delivering service and other applications. Said World Bank VP and Treasurer Graeme Wheeler, while speaking at the ongoing e-Transformation conference.






"Today's technology is transforming the government's capacity from a decision maker towards the enabler and areas like e-commerce and treasury management are most important while this transformation is taking place," he explained.





Appreciating the overall e-governance phenomenon in the country, Wheeler said that these initiatives are lowering the costs attached for a government transaction and at the same time improving on the quality front. "E-governance is all about empowering people to have greater power and control," he added.





Talking about the innovative spirit of the country, World Bank country director, Michael Carter said that India is a source of enormous innovation and this is driving the country's economy. "The challenge for India is to utilize its IT prowess and innovation skills towards reducing the poverty levels in the country. It is a challenge and an opportunity at the same time," he explained.





Confirming that the World Bank is fully committed towards accepting this challenge, Carter said that the global financing body would engage itself towards the development of rural telecommunication networks with the government as well as private players.





"This apart we would also be providing our support on scaling up different identified e-governance projects in the country. I am sure that our efforts in this direction will be beneficial to the overall Indian community and its upliftment when it comes to demolishing the digital divide," he explained.





With a theme of e-transformation — opportunities in government, public institutions and finance — this three-day event starting from March 16, 2005 is being well attended by business and government delegates from countries like Malaysia, Singapore, China, US and African countries as well.