Prime Minister Narendra Modi underlined India’s success in democratizing technology and fintech inclusion, calling for global collaboration to build a digital future driven by equality, innovation, and ethical AI.
Mumbai, October 9, 2025 — Prime Minister Shri Narendra Modi addressed the Global Fintech Fest 2025 in Mumbai, Maharashtra, highlighting India’s journey in democratizing digital technology and its role as a global leader in fintech innovation. The event was also attended by the Prime Minister of the United Kingdom, H.E. Sir Keir Starmer, and several global dignitaries including RBI Governor Shri Sanjay Malhotra.
Welcoming the guests to Mumbai — “the City of Energy, Enterprise, and Endless Possibilities” — Prime Minister Modi congratulated the organizers and fintech community for turning the Global Fintech Fest (GFF) into one of the world’s premier financial innovation platforms. He noted that the UK’s participation as the partner country this year reflects the growing strength of India–UK cooperation in fintech and technology.
Democratization of Technology
Emphasizing India’s democratic ethos, Prime Minister Modi stated, “India is the mother of democracy, and our governance reflects that spirit.” He said that in the past decade, India has achieved the democratization of technology, transforming it into a means of empowerment and equality. “Today’s India is among the most technologically inclusive societies in the world,” he said, adding that digital access now reaches every citizen and region of the country.
He highlighted that India’s model of digital governance is based on public digital infrastructure and private innovation — a combination that has turned technology into a tool for equality. “Banking was once a privilege, but digital technology has made it a means of empowerment,” the Prime Minister said, crediting the JAM Trinity (Jan Dhan, Aadhaar, and Mobile) for enabling inclusion.
He revealed that UPI alone facilitates over 20 billion transactions monthly, worth more than ₹25 lakh crore, and noted that half of all real-time digital payments worldwide occur in India.
India Stack and Global Leadership
Prime Minister Modi described the India Stack as a “beacon of hope for the world,” particularly for nations of the Global South. He emphasized that India’s open digital platforms such as UPI, DigiLocker, ONDC, and OCEN are transforming lives and driving inclusion. “We are not offering digital aid; we are offering digital empowerment,” he stated, noting that platforms like MOSIP are helping over 25 countries develop sovereign digital identity systems.
He praised India’s fintech innovators for creating Swadeshi solutions that are gaining global relevance, making India one of the top three most-funded fintech ecosystems in the world this year.
AI for All Inclusive Growth
Turning to Artificial Intelligence (AI), Prime Minister Modi outlined India’s approach built on three principles — Equitable Access, Population-Scale Skilling, and Responsible Deployment. “For India, AI stands for All Inclusive,” he remarked.
He announced that under the India-AI Mission, the government is building high-performance computing capacity and expanding AI benefits to every district and language. He also called for joint global investments in data, skills, and governance to ensure AI serves humanity responsibly.
Reaffirming India’s support for a global framework for ethical AI, he stated that India’s experience with digital public infrastructure can guide global standards. He also announced that after the AI Safety Summit in the UK, India will host the AI Impact Summit in 2026, reflecting a shared commitment to responsible technology.
India–UK Fintech Partnership and Global Outlook
Prime Minister Modi highlighted the growing India–UK Fintech Corridor, which will promote collaboration between start-ups and institutions from both countries. He noted that increased cooperation between the London Stock Exchange and GIFT City will unlock new financial opportunities under the India–UK Free Trade Agreement (FTA).
Calling for a global effort to make technology people-centric, the Prime Minister urged all partners to join India in building a fintech world where “technology enriches both people and the planet.” He concluded with a call to action for global investors to grow with India’s fintech revolution, which blends innovation, inclusion, and sustainability.
Background
The Global Fintech Fest 2025, themed “Empowering Finance for a Better World”, is one of the largest global gatherings of fintech leaders. This year’s edition features over 100,000 participants from 75 countries, with 7,500 companies, 800 speakers, 400 exhibitors, and representation from 70 regulators worldwide, including the Monetary Authority of Singapore, Deutsche Bundesbank, Banque de France, and FINMA.
Source: PMO
