Prime Minister Shri Narendra Modi inaugurates Global Fintech Fest 2026 in Mumbai

PM Urges FinTech Sector to Set Collective Tasks Focusing on Top-Notch Cybersecurity, Ethical Data Protection Standards, a Robust Regulator-Industry Innovation Ecosystem, and a Fintech Consumer Protection Index

Prime Minister Shri Narendra Modi today inaugurated Global Fintech Fest 2026 in Mumbai. Addressing the gathering, the Prime Minister extended a warm welcome to innovators, leaders, and investors from across the globe. He noted that marking his third consecutive appearance at the event feels like a hat-trick of immense national importance following his third term in government. “This hat-trick shows how important you are for a Viksit Bharat, how important your work is,” remarked Shri Modi.

Highlighting the dynamic evolution of the fintech landscape, the Prime Minister observed an expanding horizon of possibilities driven by the increasing energy, youth participation, and bold risk-taking capacity within the sector. He emphasized that the ecosystems vibrant growth continues to strengthen his optimism regarding the nations future. “Therefore, regarding the future of a Viksit Bharat, my belief is growing stronger,” asserted Shri Modi.

Drawing a beautiful parallel between technological innovation and cultural celebration, the Prime Minister invoked the festive spirit of Mumbai ahead of the highly anticipated Ganeshotsav across Maharashtra and the country. He bowed to Lord Ganesha, adhering to the tradition of seeking divine blessings before auspicious endeavors. “Bowing down to Ganpati Bappa, I wish you all the best for the Global Fintech Fest 2026,” affirmed Shri Modi.

Praising the remarkable narrative of Indias technological rise, the Prime Minister identified the Unified Payments Interface (UPI) as the undisputed champion of this transformation. He emphasized that any discussion surrounding the national fintech revolution is fundamentally incomplete without acknowledging this platforms impact, a point he recalled discussing at last years event. “But this is such a massive transformation that whenever fintech is discussed, it will remain incomplete without UPI,” observed Shri Modi.

Reflecting on the tenth anniversary of UPI celebrated on August 25, the Prime Minister contrasted early skepticism from financial elites with the current reality where millions of previously unbanked citizens now drive the digital economy. He recalled how his early vision of bringing banking to fingertips was once considered impossible by the well-informed. “Those same millions of people, who were outside the banking system for generations, have become the major drivers of fintech growth in India,” noted Shri Modi.

Challenging the industry to solve this structural credit deficit, the Prime Minister stated that technology must be utilized to study micro-economic activities and design highly curated financial models for massive numbers of small businesses. He declared that bridging this gap will define the sectors future trajectory. “I believe the next chapter of fintech will be written right here,” asserted Shri Modi.

Welcoming the technological advancements of the second quarter of the 21st century, the Prime Minister identified Agentic AI, Tokenization, and Quantum computing as revolutionary forces opening new doors in the financial sector. He challenged the industry to translate these emerging technologies into tangible societal benefits. “Now the challenge before us is how to turn these possibilities into real impact,” remarked Shri Modi.

Concluding his address with a forward-looking mandate, the Prime Minister urged the sector to pivot toward next-generation innovation while preserving the core values of scale, scope, secure systems, democratization, and public trust that built the Digital India success story. He offered his best wishes for the industrys continued evolution. “Keeping these core values in mind, the fintech sector must focus on next-generation innovation,” affirmed Shri Modi.

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