Tag: FinTech

New Delhi : As Genesys International launched its pan-India program to create a digital twin of urban India, NITI Aayog CEO Amitabh Kant said that the Centre's new geospatial policy would spur investment, innovation and geospatial technology and mapping content, impacting the ecosystem of FinTech and startups hugely. After launching the program, Kant said, "Map data is an integral part of Digital India. Be it urban planning, navigation, logistics, or infrastructure, we need mapping. Government has released a landmark 'geospatial bill' to spur investment, innovation and geospatial technology and mapping content. This will have a huge impact on the entire ecosystem of innovation, digitization, FinTech and Startups," he added. Lauding the new geospatial policy, Kant said that it focuses on innovation and in harnessing the capability and content of companies like Genesys who have done pioneering work. "Our Prime Minister has been a key advocate of using geospatial content in a host of applications, and his vision of self-reliance is manifested in the landmark geospatial policy," he said. The emergence of inventive developments like the India 3D Maps Program will set a higher standard for the industry and aid the public and private sector to incorporate the technology in building a smarter future. Chairman-cum-Managing Director (CMD) of Genesys, Sajid Malik mentioned that the digital twin platform of urban India will herald a transformation in map usage in this country as it would map literally every inch of the city. "These highly accurate 3D data are a step towards the Metaverse. It will be an essential part of the digital India economy system. Now data of this kind would be available for license to a host of users," he said. The creation of 3D data will mean a host of applications would open up in high-definition mapping, which was hitherto not possible, for smart cars, e-commerce, logistics, gaming, utilities planning for next-generation networks in telecom, renewable energy and disaster management and emergency response. With the smart city components, the digital twin of cities will put India on the map with advanced cities that are now using this geospatial technology.