India to witness massive formalization of economy through tech: Nandan Nilekani

India’s economy will undergo massive formalization in the next 10 years due to the unlocking of frameworks such as the Open Network for Digital Commerce (ONDC) and Open Credit Enablement Network (OCEN) and the democratisation of skilling through the National Digital Education Architecture (NDEAR), said Infosys chairman Nandan Nilekani.

“What you are seeing in India now is a domino effect and all these things coming together … This will lead to massive formalization,” Nilekani said at an event hosted by workforce management startup Betterplace in the city.