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Key Excerpts from Article on Website of New York Times
Posted: December 11th, 2017
https://www.nytimes.com/2017/11/28/opinion/forget-trump-and-...
China has been busy creating a cashless society, where people can pay for so many things now with just a swipe of their cellphones - including donations to beggars - or even buy stuff at vending machines with just facial recognition, and India is trying to follow suit. These are big trends, and in a world where data is the new oil, China and India are each creating giant pools of digitized data that their innovators are using to write all kinds of interoperable applications for cheap new forms of education, medical insurance, entertainment, banking and finance. Its transforming the lives of ordinary people, explained Alok Kshirsagar, a McKinsey partner based in Mumbai. Now any Indian farmer can just go to one of 250,000 government community centers - each with a computer, Wi-Fi and a local entrepreneur who manages it - log into a government digital services website with the farmers unique ID and instantly print out a birth certificate or land records needed for transactions. Similar innovations are going on in energy, explained Mahesh Kolli, president of Greenko, Indias largest renewable power provider. Greenko just built the largest solar project in the world - a 3,000-acre field of Chinese-made solar panels generating 800 megawatts powering over 600,000 homes in Andhra Pradesh. Two more such fields are on the way up. No new coal or gas power plants are being built in India today, he added, not because of regulations, but because solar, wind, hydro are all now able to compete with coal plants without subsidies.
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