In his speech at the Global Fintech Fest in Mumbai, Prime Minister Narendra Modi discussed India's progress in fintech, focusing on technologies like Agentic AI, tokenization, and quantum. He emphasized UPI transactions and global collaboration for reducing remittance costs.
Prime Minister Narendra Modi addressed the seventh edition of the Global Fintech Fest in Mumbai on September 8th, during which he stressed that India's fintech journey has achieved significant milestones with innovation and inclusion at its core. He pointed out technologies such as Agentic AI, tokenization, and quantum as opening new possibilities in the financial sector. The Prime Minister hailed UPI as a champion of fintech, noting that over 2,400 crore UPI transactions were recorded last month. He also mentioned that Indian UPI is now operational in eleven countries.
Mr. Modi emphasized the need for global collaboration in fintech systems to reduce transaction costs in remittances. He urged stakeholders at the GFF 2026 to utilize Fintech as a tool for financial inclusion. The Prime Minister also called upon fintech firms to build top-notch cybersecurity, ethical data production standards, strong Fintech regulated industry innovation ecosystem, and Fintech Protection Consumer Index.
In addition, Mr. Modi lauded India's remarkable GDP growth in the last quarter, citing the world's reassurance from India’s 7.8 percent growth despite challenging global conflicts, uncertainties, and stress on global supply chains of energy and commodities. He also highlighted that the Japan Credit Rating Agency has upgraded country’s sovereign credit rating from BBB+ to A- with a stable outlook, returning India to the A rating category after more than three decades.
Source:
Akashvani News
