PM Modi inaugurates InFinity Forum thought leadership Forum on FinTech

Prime Minister Narendra Modi said that India has proved to the world that it is second to none when it comes to adopting technology or innovating around it. He said, transformational initiatives under Digital India have opened doors for innovative Fintech solutions to be applied in governance.

Prime Minister Narendra Modi today inaugurated InFinity Forum through video conferencing. The event is being hosted by International Financial Services Centres Authority under the aegis of Government of India in collaboration with GIFT City and Bloomberg. Indonesia, South Africa and the U.K. are partner countries in the first edition of the Forum.

Highlighting the importance of fintech, Mr. Modi said, fintech has immense opportunity in the country and now it is a time to convert these fintech initiatives into a fintech revolution. He said, this revolution will help to achieve financial empowerment of every single citizen of the country. Mr Modi said, Fintech is resting on four pillars – income, investments, insurance and institutional credit.

He said, India’s digital public infrastructure solutions can improve the lives of citizens around the world. Prime Minister said, mobile payments exceeded ATM cash withdrawals for the first time last year in the country and fully digital banks have become a reality and may become commonplace in less than a decade.

Terming the GIFT City a gateway to the flobal fintech world, the Prime Minister said, it is not merely a premise, it represents India. He said, it represents India’s democratic values, demand, demography and diversity. He said, it also represents India’s openness to ideas, innovation and investment.

Prime Minister said, Finance is the lifeblood of an economy and technology is its carrier. He said, both Finance and Technology are equally important for achieving Antyodaya and Sarvodaya.

AIR correspondent reports that this two-day event is a thought leadership forum with a focus on aspects relating to FinTech and using it for inclusive growth. InFinity Forum has an interesting theme ‘Beyond.’ As the name suggests, it will set the tone for stakeholders to think beyond conventional mindsets and approaches and discuss new trends in SpaceTech, GreenTech, AgriTech, quantum computing and more.

InFinity Forum will bring together leading minds of the world in policy, business and technology. They will discuss and come up with actionable insight into how technology and innovation can be leveraged by the FinTech industry for inclusive growth and serving humanity at large.

The forum will witness participation from over 70 countries. Various Ministers of different countries, CEOs and MDs of domestic and international companies will participate in the event. NITI Aayog, Invest India, FICCI and NASSCOM are some of the key partners to this year’s Infinity Forum.

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