“India’s fintech adoption is 80 per cent as compared to world’s adoption of 64 per cent”: SomParkash, Minister of State for Commerce & Industry, Govt. of India
Delhi, July 21st , 2022: FinTech Festival India, the country’s biggest FinTech event is being held between July 20 and 22 at PragatiMaidan, Delhi, organised by Constellar and supported by NitiAayog and six central government ministries.
Speaking at the conference, SomParkash, Minister of State for Commerce & Industry, Govt. of India, said, “India’s fintech adoption is at 80 per cent as compared to world’s adoption of 64 per cent. Economic events such as demonetization, GST implementation and latest covid induced lockdown has made the Indian public tech savvy even in the informal sector. India is the best investment destination in the world despite of the three covid waves. Now it is time to convert fintech initiatives into fintech revolution to make every Indian citizen empowered financially.”
Elaborating on inequality, climate and economic instability,Dr. V. AnanthaNageswaran, Chief Economic Adviser, Government of India, said, “Behavioural change in the private sector which includes the ordinary household will have a huge bearing on the success of climate change mitigation. Today many countries globally have shifted their focus from energy transition to energy security. But it is not just about resources, getting the private sector to finance sustainability initiatives is crucial. However with interest rates on the rise, multilateral institutions such as the World Bank, European Investment Bank etc. should consider providing first loss guarantee or back stops, which will lower the cost of funds. Additionally multilateral financial institutions can also tweak their operating models and become risk managers for the private sector to crowd in private capital.”
“India has already announced the National Hydrogen Mission and we are the leaders of the International Solar Alliance, but right now cracking the ‘storage’ aspect will be most significant as it will offer a huge boost to decarbonisation efforts. Our country has very well laid out plants all the way until 2030 backed with ambitious targets for the share of renewable energy and therefore building concrete plants beyond 2030 to 2070 is going to be extremely crucial”, Dr.Nageswaran added.
Baldeep Singh Pahwa, Country Head – India, Constellar said, “Fintech Festival India has been instrumental in driving a national discourse on fintech and its impact on the Indian ecosystem over the last 12 months. We have brought together leaders from across the country for discussions on new ideas and technologies, while also providing productive engagements and networking among the stakeholders. India is one of the global giants in fintech with tremendous potential and we at FFI hope to play a key role in unlocking the opportunities by taking the Indian success story to the global center stage.”
“We are extremely grateful to receive massive support from the Government of India, Government of Tamil Nadu and Government of Karnataka throughout Fintech Festival India. The first edition of the conference has been a grand success and we aim to be back with the next edition very soon.”
The two day conference is being attended by leading industry stalwarts such as Sarbvir Singh, Chief Executive Officer, Policybazaar;Suhail Sameer, Chief Executive Officer, BharatPe; Raghu Ramanujam, Director of Product, Flipkart; Mridul Gupta, Chief Operating Officer, CoinDCX; Santosh Kumar, Innovation Head, Citi Markets India; Hitesh Sachdev, Head – Startup Engagement & Investments, ICICI Bank and SunitVakharia, Head – Consumer Banking Technology India, DBS Bank amongst others.
Variety of discussions are being held on macro-economics, sustainable future, crypto &blockchain technology, Web3, InsurTech, RegTech, financial inclusion, CBDC, cloud adoption, metaverse, NFT’s, finance and payment app security and more.
FinTech Festival India is the country’s largest FinTech confluence. It witnessed participation from over 5,000+ attendees, 160+ speakers and 90+ sessions over a period of 8 months.
The conferences are supported by Government of India’s Ministry of Finance, Ministry of Electronics & Information Technology (MeitY), Ministry of Small & Medium Enterprise (MSME), The Agricultural and Processed Food Products Export Development Authority (Ministry of Commerce and Industry), Broadcast Engineering Consultants India Limited ( A Government of India Enterprise – Under Ministry of Information & Broadcasting) and Startup India (Department for promotion of Industry and Internal Trade & Invest India). It has also received support from the Government of Tamil Nadu, Government of Karnataka and Electronics Corporation of Tamil Nadu Limited (ELCOT).
In addition to the government, FFI which aims to unleash the power of FinTech across the country, has also drawn interest from industry including Powered By sponsor CoinSwitchKuber, Platinum Sponsors M2P, Sustainability Partners The Green Billions, Digital Asset Infrastructure PartnerFireblocks, Gold SponsorsBharatPe, LIC, Moengage, Rapyder, Thales, Exclusive Networks, WebEngage, Sales acceleration partnerVymo, Payments partner In-Solutions Global Ltd., Identity verification partnerIDFy, Registration Partners CoinDCX, Digital Edition Partners JuicyScore, Spice Money, Experian.