'Our Best is Yet to Come,' PM Modi Praises India's Economy and Market Growth at Global FinTech Fest in Mumbai

PM Modi at Global Fintech Fest: At the Global FinTech Fest in Mumbai, Prime Minister Narendra Modi praised the achievements of India's FinTech industry and said that the best is yet to come . He underlined how innovations like the Open Network for Digital Commerce (ONDC) and UPI, which have made life easier for millions of people nationwide, have the capacity to transform.

India's Local Innovations, Global Impact

Speaking at the event, PM Modi highlighted that while India's fintech products may be local, their applications are global. He reiterated his confidence that the country's fintech ecosystem would not only enhance the quality of life for Indians but also benefit people worldwide. "Our best is yet to come," he declared, expressing faith in India's potential to lead the global fintech revolution.

PM Modi on Ease of Living Through FinTech

The importance of fintech in making life easier was emphasised by PM Modi, who stated, "I have faith in our fintech ecosystem that it will provide a quality life to Indians." Additionally, he urged fintech regulators to take decisive action to reduce cybercrime and raise digital literacy. He reassured that the government is completely behind the fintech industry, citing the recent repeal of the Angel Tax as evidence of the government's commitment to innovation and expansion.

Remarkable Growth in a Decade

Over the past ten years, PM Modi says, "In the last 10 years, there has been an investment of more than 31 billion dollars. In the last 10 years, there has been an increase of 500 per cent in Fintech startups. Cheap mobiles, data and zero balance account under the (Pradhan Mantri) Jan-Dhan Yojana (PMJDY) have done wonders in the nation."

PM Modi to Lay Foundation for Major Development Projects in Maharashtra

At the CIDCO ground in Palghar, Prime Minister Narendra Modi is scheduled to inaugurate and lay the foundation stone for multiple major development projects. One of these is the Rs 76,000 crore Vadhvan Port project, which is situated close to Dahanu town and intends to improve India's commerce network by giving it direct access to international shipping lanes.

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