Highlighting India’s progressive stance in the global financial landscape, K.V. Kamath, Independent Director and Non-Executive Chairman of Jio Financial Services, stated that the Indian regulatory ecosystem is “ahead of the curve” compared to global counterparts. Speaking at a fireside chat titled “Reimagining Finance in the Age of Scale, Speed, and Intelligence” during the Global Fintech Fest (GFF) 2025, Kamath emphasized the country’s strong regulatory foundation and its pivotal role in driving digital and financial transformation.
The session, moderated by Balasubramanian K., Banking Head at Citi, explored the evolving relationship between regulation, innovation, and technology in the modern financial sector.
Kamath noted that regulators today face a challenging yet crucial task — balancing innovation, customer protection, and financial stability. He commended the Reserve Bank of India (RBI) for being proactive in enabling technological progress responsibly. “The RBI’s framework for ethical and responsible AI marks a significant step toward ensuring that India leads in the sustainable adoption of artificial intelligence,” he said.
Foreign Capital: A Supportive Pillar, Not the Foundation
Reflecting on India’s financial journey, Kamath remarked that the country’s growth has historically not been dependent on foreign capital. “India may not have been the best at attracting global capital, yet it has consistently demonstrated resilience and growth,” he said. According to him, foreign investment will complement India’s growth through three main channels — capital markets, foreign direct investment (FDI), and long-term foreign currency funding.
AI Adoption and Late-Mover Advantage
Kamath also highlighted how India’s timing in adopting advanced technologies like AI gives it a strategic advantage. “Sometimes, arriving late to the party works in your favor. We can build faster and cheaper, learning from global experiences,” he noted.
India’s Economic Horizon: The $25 Trillion Goal
Projecting confidence in India’s long-term growth potential, Kamath expressed optimism about the nation’s USD 25 trillion GDP target by 2047. “The runway exists, the people exist, and the opportunities exist. Technology will be the great enabler for this 25-year journey,” he added.
The Global Fintech Fest 2025, hosted at the Jio World Centre, Mumbai from October 7–9, is organized by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC). The event is supported by key government and regulatory bodies, including the Ministry of Electronics and IT, the Ministry of Finance, the Ministry of Commerce and Industry, the Ministry of External Affairs, RBI, SEBI, IRDAI, and IFSCA.
GFF 2025 continues to serve as a global platform for industry leaders, innovators, and policymakers to discuss the intersection of finance, technology, and inclusion, positioning India as a thought leader in fintech innovation and regulatory foresight.
By: Arushi Agarwal
