PM Modi Showcases India’s Digital Leadership at Global Fintech Fest 2025

 In a landmark address at the Global Fintech Fest (GFF) 2025 in Mumbai, Prime Minister Shri Narendra Modi outlined India’s journey toward becoming a global leader in digital innovation, fintech inclusivity, and ethical artificial intelligence. The Prime Minister was joined by UK Prime Minister H.E. Mr. Keir Starmer, who attended as the guest of honor, marking a significant step in strengthening the India–UK partnership in fintech and digital technology.

Welcoming dignitaries, investors, and innovators from around the world, Shri Modi described Mumbai as “the City of Energy, the City of Enterprise, and the City of Endless Possibilities.” He commended the Global Fintech Fest for transforming, within just five years, from a national event launched during the pandemic into a truly global platform for financial innovation, cooperation, and inclusion.

A Global Platform for Financial Transformation

Shri Modi praised the participation of the United Kingdom as the partner country this year, emphasizing that the collaboration between two major democracies will further strengthen global fintech ecosystems. “India and the UK share not just trade ties but a shared commitment to ethical innovation, transparency, and progress,” he said.

Reflecting on the festival’s growth, the Prime Minister congratulated Shri Kris Gopalakrishnan and the entire organizing team for creating a vibrant ecosystem where global trust in India’s economic potential is clearly visible. “The energy, enthusiasm, and innovation showcased here reflect the confidence the world has in India’s economy,” he said.

Democratizing Technology: India’s Model of Digital Inclusion

Calling India “the mother of democracy,” Shri Modi explained that democracy in India extends beyond politics—it defines governance itself. He said that India has democratized digital technology, transforming it from a privilege of the few into a public good for all.

“Over the past decade, India has shown that technology can be not only a tool of convenience but also an instrument of equality,” the Prime Minister said. He highlighted that India’s governance model—where the **government builds digital public infrastructure and the private sector innovates on it—**has become a global example of inclusive innovation.

From Aadhaar to UPI, India’s digital revolution has empowered citizens across regions and economic backgrounds. “India today is one of the most technologically inclusive societies in the world,” he declared.

Financial Empowerment Through Digital Innovation

The Prime Minister underscored that India’s inclusive digital approach has transformed the nation’s banking landscape. What was once a privilege for the elite has now become a right for every citizen. He cited the JAM Trinity (Jan Dhan, Aadhaar, and Mobile) as the foundation of this transformation, bringing millions into the financial mainstream.

He noted that UPI alone facilitates 20 billion transactions each month, amounting to a transaction value of over ₹25 lakh crore. “Out of every 100 real-time digital transactions globally, 50 happen in India,” he announced proudly, illustrating India’s dominance in digital payments.

“Banking is no longer confined to bank branches; it lives in every hand, through a mobile phone,” Shri Modi said, emphasizing that digital payments have turned into a mass movement of empowerment.

The Expanding India Stack: A Beacon for the World

The Prime Minister described the India Stack—comprising platforms like UPI, Aadhaar Enabled Payment System, Bharat Bill Payment System, Bharat-QR, DigiLocker, DigiYatra, and Government e-Marketplace (GeM)—as the spine of India’s digital economy.

He expressed satisfaction that India’s digital public infrastructure is now inspiring open ecosystems worldwide, empowering small enterprises and innovators. The Open Network for Digital Commerce (ONDC), he said, is revolutionizing how local shopkeepers and MSMEs access national markets. Similarly, the Open Credit Enablement Network (OCEN) is solving the credit gap for small businesses, and the RBI’s digital currency initiative promises to further streamline financial operations.

“India Stack is not merely a story of India’s success—it is a beacon of hope for the Global South,” he stated. The Prime Minister highlighted that India is sharing its open-source platforms and digital know-how as global public goods.

He cited the Modular Open-Source Identity Platform (MOSIP), developed in India, which is now being adopted by over 25 countries to build sovereign digital identity systems. “This is not digital aid—it is digital empowerment,” he said, emphasizing India’s role as a partner in progress.

AI for All: India’s Vision of Responsible Innovation

Turning to the transformative potential of Artificial Intelligence (AI), Shri Modi said that AI must be designed for people and with people at the center. He emphasized India’s three guiding principles for AI development — Equitable Access, Population-scale Skilling, and Responsible Deployment — as the pillars of the IndiaAI Mission.

He announced that under the IndiaAI initiative, the government is developing high-performance computing infrastructure and centers of excellence to provide affordable resources for startups and innovators. “We are taking AI to every district and every language,” he said, emphasizing AI’s role in promoting linguistic and regional inclusivity.

The Prime Minister reaffirmed India’s leadership in shaping a global framework for ethical AI, drawing parallels between India’s approach to Digital Public Infrastructure (DPI) and its evolving strategy for AI governance.

“For India, AI stands for All-Inclusive,” he said, highlighting its applications in fraud detection, credit risk assessment, healthcare diagnostics, and agriculture productivity.

Strengthening Global Cooperation: India–UK Fintech Partnership

Shri Modi noted that the AI Safety Summit began in the UK, while next year, the AI Impact Summit will be hosted in India. “While the conversation on safety started in the UK, the conversation on impact will now take place in India,” he said, underlining India’s role in the next phase of global AI dialogue.

He announced the launch of the UK–India Fintech Corridor, which will serve as a platform for joint innovation, startup incubation, and financial market integration. This corridor, he said, will create new opportunities for entrepreneurs and strengthen cooperation between the London Stock Exchange and GIFT City in Gujarat, helping companies leverage the India–UK Free Trade Agreement (FTA) framework.

“The UK’s financial expertise combined with India’s scale and talent can open new doors of opportunity for the world,” he remarked, reaffirming his commitment to mutual prosperity and sustainable development.

Empowering Global Fintech for Growth with Goodness

Concluding his address, the Prime Minister emphasized that fintech must not only drive economic growth but also embody ethical innovation and human-centric progress. “Finance should not be just about numbers; it should be about nurturing human progress,” he said.

He invited global investors and innovators to participate in India’s growth story, affirming that India stands ready to collaborate, co-create, and lead the world’s digital transformation.

“With our fintech ecosystem, we are not just innovating for India—we are innovating for humanity,” Shri Modi said, envisioning a fintech world that advances technology, people, and the planet together.

The event was also attended by UK Prime Minister Keir Starmer, RBI Governor Shri Sanjay Malhotra, industry leaders, global investors, and policymakers from over 70 countries — making GFF 2025 the largest global fintech gathering ever hosted in India.