Prime Minister Narendra Modi addressed the Global Fintech Fest 2025 in Mumbai on Thursday, emphasizing India’s transformation into one of the world’s most technologically inclusive societies. Describing Mumbai as a city of energy, enterprise, and endless possibilities, PM Modi welcomed United Kingdom Prime Minister Keir Starmer, noting the strengthened partnership between the two democracies as a boost to the global financial landscape.
Reflecting on the festival’s evolution since its inception during the global pandemic five years ago, PM Modi highlighted its growth into a premier platform for financial innovation. He congratulated Kris Gopalakrishnan and all organizers for the event’s success, noting the vibrant energy at the venue as a reflection of global confidence in India’s economy.
PM Modi underscored India’s democratic ethos, stating that democracy extends beyond elections to governance, with technology as a key pillar. “Over the past decade, India has democratized technology, making it accessible to every citizen and region,” he said, adding that this model of good governance involves government-built digital infrastructure enabling private sector innovation. He emphasized that technology in India is not just a tool of convenience but a means of ensuring equality.
The Prime Minister highlighted the transformation of India’s banking ecosystem through digital inclusion, driven by the JAM Trinity (Jan Dhan, Aadhaar, Mobile). With UPI facilitating 20 billion monthly transactions worth over ₹25 lakh crore, India accounts for 50% of global real-time digital transactions. PM Modi noted that initiatives like the Unified Payments Interface, Aadhaar Enabled Payment System, Bharat Bill Payment System, Bharat-QR, DigiLocker, DigiYatra, and the Government e-Marketplace (GeM) form the backbone of India’s digital economy. The Open Network for Digital Commerce (ONDC) and Open Credit Enablement Network (OCEN) are empowering small businesses and addressing credit shortages, while the RBI’s digital currency initiative is set to further enhance outcomes.
Describing the India Stack as a beacon of hope for the Global South, Modi highlighted India’s efforts to share open-source platforms like the Modular Open-Source Identity Platform (MOSIP), adopted by over 25 countries. “This is not digital aid, but digital empowerment,” he said, emphasizing India’s role in fostering global digital cooperation. He noted that India’s fintech solutions, including interoperable QR networks and open finance frameworks, are gaining global recognition, with India ranking among the top three most-funded fintech ecosystems in 2025.
On Artificial Intelligence (AI), Modi outlined India’s approach based on equitable access, population-scale skilling, and responsible deployment. The India-AI Mission is developing high-performance computing capacity to support innovators and startups, ensuring AI benefits reach every district and language. He reaffirmed India’s support for a global ethical AI framework, stating, “For India, AI stands for All Inclusive.” PM Modi emphasized that India’s AI Mission addresses data and privacy concerns, enabling innovators to build inclusive applications focused on speed, affordability, and transparency in payments, credit, insurance, and investments.
Highlighting the upcoming AI Impact Summit in India in 2026, following the AI Safety Summit in the UK, PM Modi noted the complementary strengths of India’s scale and talent with the UK’s research and financial expertise. He announced plans to deepen ties through the UK-India Fintech Corridor, fostering startup collaboration and integration between the London Stock Exchange and GIFT City, enhancing benefits from the free trade agreement.
PM Modi called for a fintech world that enriches both people and the planet, where innovation drives not just growth but human progress. The event was attended by Reserve Bank of India Governor Sanjay Malhotra and other dignitaries.
The Global Fintech Fest 2025, themed ‘Empowering Finance for a Better World’—powered by AI, augmented intelligence, innovation, and inclusion—expects over 100,000 participants from 75 countries. Featuring 7,500 companies, 800 speakers, 400 exhibitors, and 70 regulators, including the Monetary Authority of Singapore, Deutsche Bundesbank, Banque de France, and Swiss Financial Market Supervisory Authority (FINMA), the event underscores its status as a leading global forum for financial innovation and policy dialogue.