The new project from Unique Identification Authority of India (UIDAI) will provide an identity to over one billion Indians. As a result it will also grant estimated 3,50,000 new jobs. This super project is expected to result in a commercial opportunity of $20 billion in the first five years and after that, $10 billion annually.
The revenue is expected to flow in a phased manner. According to the reports in the first phase the revenue opportunities will be for consulting, IT services, business process re-engineering (BPR), hardware and training and maintenance. Whereas handset makers, mobile payment services, market analytics and business intelligence services, and hardwares will generate it in the second phase. In the third phase, the potential revenue opportunity for targeted marketing could be in the region of $12 billion per annum.
Other than software and hardware providers, telcos and banks will be big beneficiaries. Telcos stand to gain 60 million new subscribers, $4.5 billion in mobile payments, and $2 billion in average revenue per user (ARPUs) and handset sales, while banks stand to gain 125 million new bank accounts from the existing figure of 240 million unique account holders.