PM Modi Showcases India’s Digital Leadership at Global Fintech Fest 2025 in Mumbai.
Says India is Democratizing Technology for Global Good, Invites the World to Join in Building a People-Centric Fintech Future.
Mumbai:
Prime Minister Narendra Modi addressed the Global Fintech Fest 2025 in Mumbai today, delivering a visionary speech that showcased India’s transformation into one of the most technologically inclusive societies in the world. Welcoming global leaders, innovators, and fintech stakeholders, the Prime Minister emphasized that India’s digital journey is not just about progress—but also about purpose, inclusion, and global partnership.
Calling Mumbai the “City of Energy, Enterprise, and Endless Possibilities”, PM Modi warmly welcomed UK Prime Minister Keir Starmer, thanking him for attending the event and reinforcing the India–UK partnership in fintech and innovation.
India: A Global Leader in Democratic Digital Transformation
The Prime Minister highlighted how India has made democratic spirit a cornerstone of its governance, particularly in the field of digital technology. Reflecting on the journey of the past decade, he stated:
“Today’s India is among the most technologically inclusive societies in the world. We have democratized digital technology, making it accessible to every citizen and every region.”
He underscored how technology is no longer a luxury, but a means to ensure equality—turning banking and digital payments from privileges into tools of empowerment. India’s model of public digital infrastructure, driven by government-backed platforms and private sector innovation, is now a globally recognized framework of good governance.
India Stack: A Beacon of Hope for the Global South
PM Modi described India Stack—including UPI, Aadhaar-enabled services, DigiLocker, DigiYatra, BharatQR, GeM, and ONDC—as key pillars of India’s digital economy. He noted:
“India Stack is not just India’s success story; it is a beacon of hope for the world, especially the Global South.”
Through platforms like MOSIP, India is helping over 25 countries build sovereign digital identity systems. “This is not digital aid, this is digital empowerment,” he declared.
The Prime Minister praised India’s indigenous fintech ecosystem, whose Swadeshi solutions—like interoperable QR codes and open commerce networks—are now gaining global relevance. India is now among the top three most-funded fintech ecosystems globally.
Empowering MSMEs and Citizens with Open Ecosystems
PM Modi outlined key initiatives under the India Stack that are transforming access to markets and credit for small businesses:
- ONDC (Open Network for Digital Commerce): Boosting market access for shopkeepers and MSMEs
- OCEN (Open Credit Enablement Network): Simplifying credit access for small entrepreneurs
- Digital Currency by RBI: Expected to further revolutionize India’s financial system
He expressed confidence that these initiatives would help convert India’s untapped potential into a powerful engine for economic growth.
India’s Ethical, Inclusive Approach to AI
The Prime Minister elaborated on India’s vision for Artificial Intelligence, built on three key pillars:
- Equitable Access
- Population-Scale Skilling
- Responsible Deployment
Reiterating that “AI for us means All Inclusive,” he emphasized the need for AI models that are multilingual, accessible, and built for the diverse needs of every citizen—including those using digital services for the first time.
India is establishing AI skilling hubs, Centers of Excellence, and building high-performance computing capacity to support innovation. The India-AI Mission is also creating governance structures to manage data privacy and ethical deployment.
India–UK Collaboration in AI, Fintech and Finance
PM Modi underlined the growing fintech and AI partnership between India and the United Kingdom, citing the UK’s strength in global finance and India’s scale and tech talent as a powerful combination. He announced:
- Strengthening of the UK–India Fintech Corridor
- Deeper links between start-ups, innovation hubs, and financial institutions
- Enhanced cooperation between London Stock Exchange and GIFT City
He also welcomed UK investment in India’s fintech ecosystem, calling for joint development and piloting of innovative solutions.
Global Outlook: From AI Safety to AI Impact
The Prime Minister highlighted India’s leadership in responsible AI by referencing the upcoming AI Impact Summit in India in 2026, which follows the AI Safety Summit held earlier in the UK.
“While the conversation on AI safety started in the UK, the conversation on AI impact will now take place in India.”
He positioned India as a global thought leader on ethical AI and digital public infrastructure, inviting global partners to co-create solutions that serve humanity.
Call to Action: A Fintech Future for People and Planet
Concluding his address, Prime Minister Modi extended an open invitation to global stakeholders to invest in and collaborate with India. He urged the fintech industry to aim not only for innovation and profitability, but also for inclusion, sustainability, and human progress.
“Let us build a fintech world where technology enriches both people and the planet… where finance signifies not just numbers, but human progress.”
The event was attended by UK Prime Minister Keir Starmer, RBI Governor Sanjay Malhotra, industry leaders, fintech innovators, and representatives from over 50 countries.
