this story originally appeared in on oct 1 2016speaking at the economic times ceo roundtable sachin bansal executive chairman flipkart vijay shekhar sharma founder ceo paytm and satyan gajwani vice chairman times internet discuss the rise of digital and the power of mobiles edited excerptseconomic times if it is not infrastructure if it is not steel if it is not refineries we are going to see more investment happening in ecommerce perhaps more investment happening in digital with payment banks expanding and ecommerce companies expanding could you comment on that sachin bansal digitisation of the economy is happening at a very fast rate especially with the new government coming in they have accelerated the pace at which internet growth was happening and internet is also changing it is becoming wireless instead of the traditional internet of broadband it is also becoming something different and smart phones led combined with the ability to crunch data at a very large scale and store data in a very cheap manner this is creating a new paradigm which was never thought of before and india is stepping into that new paradigm straightaway rather than getting into something old and then shifting step by step we are skipping a lot of the stuff the way we skipped the whole landline and got into wireless telecom we feel that we are also skipping a lot of offline retail build up that happened in the western countries and moving straight to ecommerce and shopping online and i think that is going to bring new efficiencies and the best thing for us is that we do not have to replace anything we do not have anything to replace we are kind of creating the whole thing from scratch which means that we can actually create something which is much more efficient it is the same with payments we are seeing that we skipping a lot of things that happened in other countries and we are moving from cash straight away to mobile banking where mobile phone becomes your credit cardeconomic times so what kind of efficiencies do you think you will see when you move more and more from cash to digital to mobile banking and where the smart phone basically becomes your universe what do you think will be the changes that will impact the economy sachin bansal consumption should go up in the economy because now it will be much easier to consume as compared to before earlier even if you had the money to buy something it was not accessible whether it is a service or a product everything is much more accessible now overtime the technology will become so simple that even somebody who is not literate should be able to use it and literacy should not become a bottleneck that is going to increase the speed of consumption and from an efficiency point of view our logistics infrastructure is highly inefficient in the country right now using mobile phones and internet as