India will see “significant economic activity” in the next decade due to the Open Network for Digital Trade (ONDC), record aggregation system and government measures like GST, FAStag and E-Way bills, according to the co-founder and chairman of Infosys Technologies, Nandan Nilekani said on Tuesday. He made the remarks during a speech at the 7th edition of the Global Technology Summit organized by Carnegie India.

“…there are three big things coming today that will have a greater impact (on India) in the next decade. I believe that over the next 10 years India will see significant economic activity that is broad-based, inclusive and democratizing,” he said.

The first is ONDC, the second is the account aggregator framework and the transformation that is taking place in the logistics sector due to government initiatives such as GST, Fastag and the E-Way bill, Nilekani said.

Nilekani said he expects the ONDC – a government initiative to promote an open platform for all aspects of exchanging goods and services over electronic networks – to start soon. ONDC will enable unbundling of commerce business to allow millions of small suppliers to sell on the network, and millions of small retailers to participate in the platform as small sellers to truly boost hyper-local commerce and make their businesses more inclusive.

Second, the account aggregator network, which again is basically an idea that data should ultimately be used by people who generate the data, and therefore individuals, small businesses can use the data to access multiple services like loans and such continue to receive. This record aggregation system is also a business for India’s data empowerment architecture. It has a unique installation called Consent Manager.

“A consent manager on your behalf receives your data from various providers and makes them available for various benefits. For example, a small business can use their Consent Manager to get their GST details, get a bank statement from the bank, and get their tax status from the income tax system and securely pass it to the lender, who will then make a decision on lending can take place. All of this will fundamentally democratize lending and other financial services,” the chairman said.

He said that the logistics sector is changing due to government initiatives such as GST, FAStag and E-Way Bill. All this has simplified the movement of goods and vehicles on the highways. The government has many plans to build multimodal parks, all of which will help reduce logistics costs.

In addition, a variety of startup innovators, local delivery and inter-city delivery will change this moment and the delivery of goods, he said.

Nilekani also said that out of around 600 million in 2014, 1.3 billion Indians now have Aadhaar IDs (identity).

“India is a world leader in creating digital public goods where anyone in the country can participate in the digital economy… with Aadhaar… I was the Founding Chair of the Unique Identification Authority of India which ran this project. At the time I resigned in 2014, 600 million Indians had digital ID cards, and under the leadership of Prime Minister Modi and his government, 1.3 billion Indians now have digital ID cards.”

It is an online ID that can be used anywhere in India. It authenticates an individual through biometrics and OTPs, he said.