What is the Internet and Mobile Association of India (IAMAI)?

About Internet and Mobile Association of India (IAMAI)

• Established in 2004, the IAMAI is a not-for-profit industry body registered under the Societies Registration Act, 1860.
• It is the country's only organization representing the digital services industry, with over 500 Indian and multinational corporations as its members, which include established companies in diverse sectors of the digital ecosystem as well as start-ups.
• Mandate: To expand and enhance the online and mobile value-added services sectors. 
• It is dedicated to presenting the unified voice of the businesses it represents to the government, investors, consumers, and other stakeholders.
• The association addresses the issues, concerns, and challenges of the Internet and Mobile economy and takes a leading role in its development.
• IAMAI represents varied sectors such as digital advertising, digital entertainment, traveltech, online gaming, digital payments, fintech, digital commerce, edtech, healthtech, agritech, big data, ML, AI & IoT, AR/VR, logistics-tech, and so on.
• The association’s activities include promoting the inherent strengths of the digital economy, evaluating and recommending standards and practices to the industry, conducting research, creating platforms for its members, communicating on behalf of the industry, and creating a favorable business environment for the industry.;
• IAMAI has been advocating free and fair competition, progressive laws for the sector, and supporting equitable access, the best quality of services to consumers, and a safe and secure internet for users.

Q1) What is fintech?

Fintech refers to such new technologies that seek to improve and automate the delivery and use of financial services. These Fintech companies are playing a prominent role in increasing financial inclusion in India by promoting digital payments, digital lending, small savings and investment opportunities and Financial Literacy.

Source: ‘Progressive’: Internet and mobile association welcomes Telecom Bill, hails exclusion of OTTs, email from its ambit