Text of PM’s address during inauguration of Global Fintech Fest (GFF) 2026 in Mumbai

Prime Minister Narendra Modi addressed the inauguration of the Global Fintech Fest (GFF) 2026 in Mumbai. Highlighting India's economic resilience, he noted the country's 7.8 percent growth rate in the April-June quarter and a recent upgrade of India's sovereign rating to A-category by a Japanese credit rating agency after three decades. He underscored the growth of UPI, which completed 10 years on August 25 and has expanded to 11 countries. The Prime Minister called for moving beyond payments to expand credit transactions, insurance, savings, investments, and pension products through fintech, noting the success of the PM Svanidhi scheme. Furthermore, he outlined four key tasks for the fintech industry: enhancing cybersecurity, establishing ethical data protection standards, creating a robust fintech regulator industry innovation ecosystem, and developing a fintech consumer protection index.