New Delhi: Dennis Francis, President of the 78th Session of the United Nations General Assembly (UNGA), has highlighted the contribution of mobile phones and digital banking services in India in lifting 800 million people out of poverty.
Addressing the Food and Agriculture Organisation (FAO) of the United Nations this week, Francis gave India's example while explaining the change that technology and innovation can bring in the lives of people from developing countries.
"India has been able to lift 800 million people out of poverty over the last five or six years simply by the use of a smartphone. Rural farmers in India, who never had a relationship with a banking system, are now able to transact all their businesses on their smartphone," Francis, a seasoned diplomat from Trinidad and Tobago, told the gathering.
"They pay their bills and they receive payments for orders... 800 million people lifted out of poverty because there is a high level of internet penetration in India and almost everyone has a cellphone," he added.
