Prime Minister Narendra Modi will address the Global Fintech Fest at the Jio World Center in Mumbai on Thursday | Photo credit: ANI
India is sharing its experiences and open source platform for global public interest and this should not be seen as helping other countries, Prime Minister Narendra Modi said.
“India’s pile is not just a story of India’s success. It is a story for the whole world…What India is doing is a ray of hope for the countries of the South.
“India wants to increase its digital cooperation and partnership with the world through digital innovation,” Modi said in his speech at the Global Fintech Fest.
Key projects/platforms
India Stack has key projects/platforms including Aadhaar, UPI, DigiLocker, and Government eMarketplace, among others.
Modi noted that banking used to be a privilege. But digital technology has turned it into a tool of empowerment. Today, digital payments have become routine in India.
Referring to the self-developed MOSIP – Modular Open Source Identity Platform, the Prime Minister said that more than 25 countries are adopting the digital identity system as their sovereign system.
Besides sharing technology, India is also helping other countries develop it.
“And this is not digital aid. People in the world may compare it to aid… This is not aid, but digital empowerment. A hint is enough for the wise,” Modi said.
Thanks to the efforts of the Indian fintech community, India’s swadeshi solutions (homegrown) are gaining global relevance, he added.
The Prime Minister emphasized that the world is noticing the growth of Indian startups in an interoperable QR (quick response) network, open trading and an open financial framework.
In this context, he underlined that the country entered the top three most funded fintech ecosystems in the first six months of this year.
“India’s specialty is not just scale. We connect scale with inclusivity, resilience and sustainability. And this is where AI’s role begins. It can reduce insurance losses. It can detect fraud in real time. Moreover, AI can play an important role in improving other services
“To unlock this potential, we will need to invest together in data, skills and governance,” he said.
On AI, Modi noted that India’s approach is based on principles such as equal access, population, size, skills and responsible engagement. Furthermore, the country is building powerful computing capacity as part of the AI mission.
“India and Britain have shown the world the way to a win-win partnership. The Britain-India fintech corridor will provide opportunities for new startups to experiment and progress. The financial integration between the two countries will help our businesses realize the benefits of the FTA,” he said.
Modi invited every investor to join India’s growth. “We must build a FinTech world where technology, people and planet both thrive, where the purpose of innovation is not just growth but also goodness, where the purpose of finance is not just numbers but also human progress,” he said.
Published on October 9, 2025
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