Narendra Modi inaugurates Global Fintech Fest 2026 in Mumbai

Narendra Modi yesterday inaugurated Global Fintech Fest 2026 in Mumbai. Addressing the gathering, the Prime Minister extended a warm welcome to innovators, leaders, and investors from across the globe. He noted that marking his third consecutive appearance at the event feels like a hat-trick of immense national importance following his third term in government. “This hat-trick shows how important you are for a Viksit Bharat, how important your work is,” remarked Shri Modi.

Highlighting the dynamic evolution of the fintech landscape, the Prime Minister observed an expanding horizon of possibilities driven by the increasing energy, youth participation, and bold risk-taking capacity within the sector. He emphasized that the ecosystem's vibrant growth continues to strengthen his optimism regarding the nation's future. “Therefore, regarding the future of a Viksit Bharat, my belief is growing stronger,” asserted Shri Modi.

Drawing a beautiful parallel between technological innovation and cultural celebration, the Prime Minister invoked the festive spirit of Mumbai ahead of the highly anticipated Ganeshotsav across Maharashtra and the country. He bowed to Lord Ganesha, adhering to the tradition of seeking divine blessings before auspicious endeavors. “Bowing down to Ganpati Bappa, I wish you all the best for the Global Fintech Fest 2026,” affirmed Shri Modi.

Acknowledging the complex global environment marked by conflicts, trade tensions, and severe pressure on the supply chains of energy and commodities, the Prime Minister contrasted international economic uncertainty with India's robust 7.8 percent growth during the challenging April to June quarter. He praised the resilience of the Indian economy, which provides renewed confidence to the global community. “And this confidence, I can clearly see it on all your faces here,” noted Shri Modi.

Pointing to a recent major validation of India's economic trajectory, the Prime Minister celebrated a Japanese credit rating agency upgrading the nation's sovereign ratings to the A- category after three decades. He attributed this historic milestone to structural reforms and macroeconomic stability, ensuring that the country’s growth momentum remains unstoppable. “ I will say again that this reform express of India will move forward at an even faster pace,” asserted Shri Modi.

Praising the remarkable narrative of India's technological rise, the Prime Minister identified the Unified Payments Interface (UPI) as the undisputed champion of this transformation. He emphasized that any discussion surrounding the national fintech revolution is fundamentally incomplete without acknowledging this platform's impact, a point he recalled discussing at last year's event. “But this is such a massive transformation that whenever fintech is discussed, it will remain incomplete without UPI,” observed Shri Modi.

Reflecting on the tenth anniversary of UPI celebrated on August 25, the Prime Minister contrasted early skepticism from financial elites with the current reality where millions of previously unbanked citizens now drive the digital economy. He recalled how his early vision of bringing banking to fingertips was once considered impossible by the well-informed. “Those same millions of people, who were outside the banking system for generations, have become the major drivers of fintech growth in India,” noted Shri Modi.

Presenting staggering operational data, the Prime Minister revealed that over 24 billion UPI transactions occurred in August alone, meaning roughly 50 lakh transactions were processed in just the first ten minutes of the event. He cited French President Emmanuel Macron to underscore that this phenomenal adoption rate transcends technology. “It is because of this impact that President Macron said that UPI is not just a tech story, it is a civilizational story,” remarked Shri Modi.