Mumbai: Prime Minister Narendra Modi delivered a powerful keynote address at the Global Fintech Fest 2025 held in Mumbai, underlining India’s remarkable journey in democratizing technology and financial inclusion. The event, themed ‘Empowering Finance for a Better World,’ brought together over 100,000 participants from more than 75 countries, including policymakers, regulators, innovators, and industry leaders.
India’s Democratic Spirit Reflected in Technology
Describing Mumbai as the “City of Energy, Enterprise, and Endless Possibilities,” PM Modi warmly welcomed attendees and highlighted India’s democratic values as the foundation for its governance and technological progress. “India has made the democratic spirit a strong pillar of its governance,” he said, adding that over the past decade, India has emerged as one of the most technologically inclusive societies worldwide.
The Prime Minister emphasized India’s successful effort to democratize digital technology, making it accessible to every citizen across all regions. He referred to India’s digital infrastructure model, where the government builds the platform and the private sector innovates on it, fostering equality through technology.
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Revolutionizing Financial Inclusion through Digital Innovation
PM Modi spotlighted the transformation of India’s banking ecosystem, where digital tools have turned banking from a privilege into an empowerment vehicle for millions. Highlighting the JAM Trinity (Jan Dhan, Aadhaar, and Mobile), he noted that the Unified Payments Interface (UPI) alone facilitates over 20 billion transactions every month, with India accounting for half of the world’s real-time digital transactions.
He also described India Stack — the country’s open digital infrastructure — as a “beacon of hope” globally, especially for nations in the Global South. Components like DigiLocker, Bharat Bill Payment System, ONDC (Open Network for Digital Commerce), and OCEN (Open Credit Enablement Network) are transforming commerce and credit accessibility for small businesses and MSMEs. The Prime Minister expressed confidence that the upcoming digital currency initiative by the Reserve Bank of India will further boost financial inclusion.
India's digital ecosystem is setting global standards for innovation and inclusion. Addressing the Global Fintech Fest 2025 in Mumbai. https://t.co/65bZqzTH7a
— Narendra Modi (@narendramodi) October 9, 2025
India’s Global Role in Digital Empowerment
Mr. Modi emphasized that India is not only sharing its digital innovations but also helping other countries develop their technology. He cited the Modular Open-Source Identity Platform (MOSIP), adopted by over 25 countries, as a prime example of India’s commitment to digital empowerment rather than mere aid.
The Prime Minister praised India’s fintech ecosystem for producing homegrown solutions with global relevance, such as interoperable QR codes and open finance frameworks. He noted that India is now among the top three most-funded fintech ecosystems worldwide.
Ethical AI: India’s Pillar for Inclusive Growth
PM Modi outlined India’s approach to Artificial Intelligence, grounded in three principles: equitable access, population-scale skilling, and responsible deployment. The government’s India-AI Mission aims to make AI affordable and accessible, reaching every district and language.
Highlighting India’s support for a global framework on ethical AI, Modi stressed that for India, AI stands for “All Inclusive.” He called for designing AI applications centered on people’s needs, ensuring safety, privacy, and trust in digital financial services.
Strengthening India-UK Partnership in Fintech and AI
The event also marked the participation of the Prime Minister of the United Kingdom, H.E. Mr. Keir Starmer, symbolizing growing cooperation between two major democracies. PM Modi highlighted the UK-India Fintech Corridor initiative, which will enable startups to pilot and scale innovations, foster financial integration between the London Stock Exchange and India’s GIFT City, and boost collaboration under the upcoming free trade agreement.
A Call for Global Collaboration and Sustainable Innovation
Concluding his address, PM Modi extended an invitation to global partners and investors to collaborate with India in building a fintech world where technology serves not just economic growth but human progress and planetary wellbeing. He called for innovation driven by goodness and finance that signifies inclusion and empowerment.
About Global Fintech Fest 2025
The Global Fintech Fest 2025 is one of the world’s largest fintech events, hosting more than 7,500 companies, 800 speakers, and regulators from across the globe, including the Monetary Authority of Singapore, Deutsche Bundesbank, Banque de France, and Swiss FINMA. The event serves as a premier platform for financial innovation, policy dialogue, and global cooperation in the rapidly evolving fintech landscape.
