UPI usage surges in India on the back of small businesses

India's adoption of digital technology, particularly UPI, has seen a significant increase in business activities, particularly in the informal sector. A recent survey by the Statistics Office revealed that internet usage for business purposes increased from 7.7% in rural areas to 30.2% in urban areas during 2022-23. This represents a 7.2 percentage point increase, highlighting the rapid adoption of digital payment methods in the informal sector.