Mumbai, October 8, 2025: “The way forward holds huge promise for India. Let’s go and capture the world markets; let’s become the centre of technology.” said Shri Piyush Goyal, Union Minister of Commerce and Industry, at the Global Fintech Fest (GFF) 2025, being held at the Jio World Centre, Mumbai, from October 7 to 9.
GFF 2025 is organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI) and the Fintech Convergence Council (FCC). GFF 2025 is supported by the Ministry of Electronics and Information Technology; the Department of Economic Affairs and the Department of Financial Services, Ministry of Finance; the Department of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry; New, Emerging and Strategic Technology Division, the Ministry of External Affairs; the Reserve Bank of India (RBI); the Securities and Exchanges Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI) and the International Financial Services Centres Authority (IFSCA).
Addressing a packed audience at a special session on ‘India’s Digital Promise: Building Trust, Trade and Technology for All’, Shri Goyal said how India had transformed from being “merely a participant in global trade to a principal architect of the fintech world,” crediting the Honourable Prime Minister Shri Narendra Modi’s leadership for India’s rapid digital adoption and resilience.
“Technology has become a driver of inclusive growth. Every citizen today is empowered with digital tools. Having a billion-plus internet users is no mean achievement,” he said, adding that trust has become India’s defining strength, “the only currency that never depreciates, it only appreciates.”
Speaking on the country’s progress, Shri Goyal said, “India is at an inflection point with strong macroeconomic fundamentals, expanding trade relations with developed countries around the world, and a focus on empowering customers with high quality and low taxes.”
Citing India’s renewable energy leadership, Shri Goyal said that “24-hour renewable energy is available at under 9 cents a kilowatt for data centres and for artificial intelligence applications.” He said that clean, affordable power “will drive the world’s most modern technologies from India for the rest of the world.”
On India’s digital success, Shri Goyal said, “Today UPI is becoming more and more prominent not only in India but across the world. Day before yesterday, I launched UPI in Doha and Qatar… Today, nine countries are using UPI.” “A conference like The Global Fintech Fest shows the world how India can empower through technology-led finance,” the Union Minister commented.
He concluded with a call to action: “Let artificial intelligence become the next frontier of technology that India will adopt, take forward, and take leadership in — on the strength of our trust, talent, and technological progress.”
About Payments Council of India (PCI)
The Payments Council of India (PCI) was formed under the aegis of the Internet and Mobile Association of India (PCI) in the year 2013 catering to the needs of the digital payment industry. The Council was formed inter-alia to represent the various non-banking payment industry players, and to address and help resolve various industry-level issues and barriers that require discussion and action.
The council works with its 180+ members, encompassing over 90% of the industry to promote payments industry growth and to support our national goals of ‘Cashless Society’ and ‘Growth of Financial Inclusion’ which is also the Vision Shared by the RBI and the Government of India. PCI represents the complete digital payments ecosystem of India through its various committees representing different sectors.
About Fintech Convergence Council (FCC)
Established in 2018, the Fintech Convergence Council (FCC) is an industry body representing the collective voice of fintech companies in India. Since its inception, FCC has evolved into a leading platform with a diverse membership of over 200 fintech entities across key segments including digital lending, wealth, insurance, digital financial services, RegTech, and credit bureaus.
FCC’s core mission is to address sector-specific challenges and provide a unified platform for dialogue within the broader BFSI (Banking, Financial Services, and Insurance) ecosystem. The council actively engages with regulators and policymakers to help shape progressive policy frameworks and promote a balanced approach to innovation and compliance.
In addition to policy advocacy, FCC also focuses on knowledge sharing, strengthening consumer education, and promoting responsible finance through awareness-building initiatives on customer protection, digital literacy, and best practices in fintech.
By: Sandhya Bharti
