PM Modi at Global Fintech Fest 2025: India’s Digital Democracy Inspires the World
Prime Minister Narendra Modi addresses the Global Fintech Fest (GFF) 2025 in Mumbai, on Thursday, highlighting India’s leadership in digital inclusion, fintech innovation, and ethical AI.
Mumbai, October 10: Prime Minister Narendra Modi on Thursday addressed the Global Fintech Fest (GFF) 2025 in Mumbai, asserting that India has made the “democratic spirit” a strong pillar of its governance and emerged as one of the most technologically inclusive societies in the world.
Welcoming participants alongside UK Prime Minister Keir Starmer, Modi described Mumbai as “the City of Energy, Enterprise and Endless Possibilities.” He said India’s fintech success reflected “global trust in India’s economy and growth.”
Democratisation of Technology
Highlighting India’s transformation over the last decade, Modi said the country had democratised digital technology, making it accessible to every citizen and every region.
“India has shown that technology is not just a tool of convenience but a means to ensure equality,” he said, citing the JAM Trinity—Jan Dhan, Aadhaar, and Mobile—as the foundation of inclusion.
He noted that the Unified Payments Interface (UPI) now enables 20 billion monthly transactions worth ₹25 lakh crore, adding that half of all global real-time digital transactions occur in India.
India Stack as a Global Model
Calling the India Stack a “beacon of hope for the Global South,” Modi said it demonstrates how open digital infrastructure can drive empowerment.
India, he said, is sharing technologies such as MOSIP—the Modular Open-Source Identity Platform—with over 25 countries to help build sovereign digital ID systems.
“This is not digital aid; this is digital empowerment,” he emphasised.
He also cited ONDC and OCEN as examples of how open networks are empowering MSMEs, small traders, and entrepreneurs.
India’s AI Vision: All-Inclusive
Turning to Artificial Intelligence, the Prime Minister said India’s approach rests on three pillars—Equitable Access, Population-scale Skilling, and Responsible Deployment.
“For us, AI stands for All Inclusive,” he remarked, announcing that under the India-AI Mission, high-performance computing capacity will be made affordable and accessible for innovators across districts and languages.
India, he added, has consistently supported a global framework for ethical AI, and next year will host the AI Impact Summit, following the UK’s AI Safety Summit.
Fintech and Global Partnerships
Praising India’s fintech community for giving Swadeshi solutions global relevance, Modi noted that within the first half of 2025, India ranked among the top three most-funded fintech ecosystems worldwide.
He said collaboration between India and the UK in fintech and AI represents a “win-win partnership” that combines India’s scale and talent with the UK’s research and financial expertise. The proposed UK-India Fintech Corridor, he said, will link startups, innovation hubs, and capital markets between GIFT City and the London Stock Exchange.
Concluding his address, Modi called for the creation of a fintech world that enriches both people and the planet, where innovation serves “growth with goodness” and finance signifies “human progress.”
