This is certainly good for India. I predict, over time, cash-less transactions in India will increase, as more companies start investing in cashless transactions.
India is already going cashless. There are plenty of wallets and chash-less apps spending money trying to buy market share. Every vendor and their younger brouther has their own wallet app. You'd be hard pressed to find a shop without a paytm or phonepe or whatever barcode at the window.
It's already happening. Google is trying to ride the wave, and the government is trying to ride the Google PR wave!