Prime Minister Shri Narendra Modi inaugurated the Global Fintech Fest 2026 in Mumbai yesterday, welcoming innovators, industry leaders and investors from across the world. Reflecting on his third consecutive appearance at the event, the Prime Minister described it as a “hat-trick” of national significance, coinciding with his third term in office. He emphasised the critical role of the fintech community in shaping the vision of a Viksit Bharat.
Highlighting the rapid evolution of India’s fintech ecosystem, Prime Minister Modi noted the growing opportunities emerging from the sector’s youthful energy, innovation and willingness to take bold risks. He said the dynamism of the industry has further strengthened his confidence in India’s future.
Drawing a connection between technology and India’s cultural traditions, the Prime Minister invoked the festive spirit surrounding Ganeshotsav in Maharashtra. Seeking the blessings of Lord Ganesha, he extended his best wishes for the successful conduct of Global Fintech Fest 2026.
Addressing the challenging global economic environment, marked by geopolitical conflicts, trade tensions and pressure on energy and commodity supply chains, Prime Minister Modi highlighted India’s resilience. He pointed to the country’s 7.8 percent growth during the April–June quarter as evidence of the strength of the Indian economy and said India’s performance has reinforced confidence among the global community.
The Prime Minister also highlighted the recent upgrade of India’s sovereign credit rating to the A- category by a Japanese credit rating agency after nearly three decades. He attributed the achievement to structural reforms and macroeconomic stability, stressing that India’s reform journey would continue at an even faster pace.
Turning to India’s digital transformation, Prime Minister Modi described the Unified Payments Interface (UPI) as a defining force behind the country’s fintech revolution. He reiterated that no discussion on India’s fintech journey can be complete without recognising the transformative impact of UPI.
Marking the tenth anniversary of UPI, celebrated on August 25, the Prime Minister recalled the scepticism that surrounded the initiative in its early years. He noted that millions of people who had remained outside the formal banking system for generations have now become important drivers of India’s digital economy.
Highlighting the scale of UPI adoption, Prime Minister Modi said more than 24 billion UPI transactions were recorded in August alone. He also referred to the system’s growing international recognition, citing French President Emmanuel Macron’s observation that UPI represents not merely a technological achievement but a broader civilisational transformation.
The Prime Minister further noted that UPI is now operational in 11 countries, describing its international expansion as a reflection of the remarkable journey India’s digital payments ecosystem has undertaken.
Concluding his address, Prime Minister Modi called on the fintech industry to focus on next-generation innovation while preserving the principles that have underpinned India’s Digital India journey — scale, scope, security, democratisation and public trust.
He said these foundational values must continue to guide the fintech sector as it moves towards its next phase of growth and innovation.