India is principal architect of fintech world: Piyush Goyal

Mumbai: India has transformed from being merely a participant in global trade to a principal architect of the fintech world, Union Commerce & Industry Minister Piyush Goyal said, crediting Prime Minister Narendra Modi’s leadership for 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, only appreciates.

“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,” Goyal said addressing the Global Fintech Fest (GFF) 2025 at the Jio World Centre in Mumbai.

“The way forward holds huge promise for India. Let’s go and capture the world markets; let’s become the centre of technology,” said Goyal, who is an MP from Mumbai North.

Citing India’s renewable energy leadership, 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, 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.”