PM Modi took a walkthrough of the expo at the Global Fintech Fest 2025 along with UK PM Keir Starmer
Mumbai: Marking a major milestone in India-UK cooperation on digital innovation, financial technology, and inclusive growth, Prime Minister Narendra Modi and his UK counterpart Sir Keir Starmer jointly inaugurated the Global Fintech Fest 2025 in Mumbai.
Welcoming Starmer and global fintech leaders, innovators and investors, PM Modi hailed Mumbai as the “city of energy, enterprise and endless possibility”, emphasizing that the presence of the UK as a partner country at this year’s festival reflects the growing synergy between two of the world’s largest democracies.
“India has democratized technology,” said Modi. “What was once a privilege is now a tool of empowerment. Digital technology has made governance more inclusive, accessible, and transparent,” he added.
India’s Digital Revolution
The PM outlined India’s success in turning technology into a pillar of democratic governance, citing the Jan Dhan-Aadhaar-Mobile (JAM) trinity and the rapid expansion of UPI, which now facilitates over 20 billion transactions monthly, valued at more than ₹25 trillion. He noted that half of the world’s real-time digital payments take place in India, underscoring the nation’s leadership in fintech innovation.
PM Modi said platforms such as UPI, Aadhaar-enabled payment system, Bharat bill payment system, DigiLocker, GeMand ONDC have transformed India’s financial inclusion landscape. He highlighted how open digital networks like ONDC and OCEN are empowering small businesses and MSMEs by improving market access and easing credit availability.
AI for All
PM Modi underlined that India’s AI strategy is founded on equitable access, population-scale skilling, and responsible deployment. He said the IndiaAI Mission is building high-performance computing capacity and indigenous AI models to ensure that the benefits of artificial intelligence reach “every district and every language”.
“For India, AI means All-Inclusive,” Modi remarked, stressing that AI should be designed with a people-centric approach that enhances trust and accessibility in financial services.
He announced that following the UK’s AI Safety Summit, India will host the AI Impact Summit next year, further strengthening global dialogue on the ethical and impactful use of artificial intelligence.
India-UK Fintech Corridor
PM Modi and Starmer reaffirmed their commitment to building a UK-India Fintech Corridor to foster innovation, co-develop solutions, and connect startups, institutions, and innovation hubs between the two nations. The initiative is expected to enhance cooperation between the London Stock Exchange and GIFT City, and complement the ongoing discussions on the India-UK Free Trade Agreement (FTA).
PM Modi emphasized that India’s approach to digital partnerships — including open-source platforms like MOSIP (Modular Open-Source Identity Platform) — offers a model for digital empowerment, not “digital aid”, especially for countries in the Global South.
“India’s fintech story is not just about scale; it is about inclusion, resilience, and sustainability,” he said. “We invite every partner and investor to grow with India’s growth.”
Concluding his address, PM Modi called on the global fintech community to build a world “where technology, people, and the planet prosper together — where innovation drives not only growth but also goodness, and finance becomes a means to human progress.”