Prime Minister Narendra Modi, during his address at the Global Fintech Fest in Mumbai on August 30, revealed that Indias fintech industry has attracted more than $31 billion in investments over the past decade, while startups in the sector have witnessed an impressive growth rate of over 500%.“The fintech industry has secured over $31 billion in investments in the last 10 years, and startups have seen a 500 percent growth. The availability of affordable data, widespread mobile phone usage, and zero-balance Jan Dhan bank accounts have significantly transformed the financial landscape of our country,” stated Prime Minister Modi.#WATCH प्रधानमंत्री नरेंद्र मोदी ने कहा, पिछले 10 सालों में फिनटेक स्पेस में 31 बिलियन डॉलर से अधिक निवेश हुआ है। हमारे फिनटेक स्टार्टअप में 500% वृद्धि हुई है.. pic.twitter.com/Zqj7qIqcjc— ANI_HindiNews (@AHindinews) August 30, 2024PM Modis Visit to the Global Fintech FestThe statement from the Prime Minister Modi has come while addressing the Global Fintech Fest 2024 held at the Jio World Convention Centre in Mumbai, where he explored the latest innovations in the fintech sector. During his visit, he interacted with industry experts and even tried out virtual reality glasses at one of the stalls, showcasing his interest in the cutting-edge technology being developed.The Global Fintech Fest is a significant event, drawing participation from policymakers, regulators, senior bankers, and academicians from both India and abroad. The event serves as a platform for discussing the future of fintech and displaying the industrys most recent advancements.Foundation Stone Laying of Vadhvan Port ProjectLater in the day, Prime Minister Modi is scheduled to inaugurate and lay the foundation stone for several development projects at the CIDCO ground in Palghar. Among these projects, the Rs 76,000 crore Vadhvan Port project near Dahanu town in Palghar district stands out. This ambitious project is set to enhance Indias trade capabilities by providing direct connectivity to international shipping routes.Ahead of his visit to Maharashtra, Prime Minister Modi took to social media, referring to the Vadhvan Port project as a “very special project” that will significantly contribute to Indias development. He also emphasized that this initiative will reinforce Maharashtras position as a powerhouse of progress.
