Courtesy Gadgets Now
NEW DELHI: India’s information technology sector is one that has escaped the depressing impact that demonetisation has had on economic activity in the country, an IT corporate leader has said.
“India is a huge market and when there is a disruption of this kind (demonetisation), it is for technology companies to fill in the vaccuum,” Mahindra Group chief technology officer Ulhas Yargop told BTVi in an interview.
Following the November 8 demonetisation of high-value currency, the government has launched a campaign to increase digital transactions in order to move to a “less cash” economy.
Admitting that there are visible and hidden costs in reducing cash volume in the economy, the government last week announced a series of 11 measures designed to increase the pace of digital payments.