PM Modi makes big statement at Infinity Forum

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In his address on the occasion, PM Modi emphasized the efforts being made at the government level for the development of the fintech sector. A total of 70 countries are participating in this two-day forum.

New Delhi: Prime Minister Narendra Modi today inaugurated the Infinity Forum on Financial Technology (FinTech) organized through video conferencing. 

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In his address on the occasion, PM Modi emphasized the efforts being made at the government level for the development of the fintech sector. A total of 70 countries are participating in this two-day forum.

During his address on the occasion, PM Modi said that India has shown the world how fast India is adopting technology and innovation. 

“Digital India has opened many doors,” PM Modi said.

“Last year, in India, mobile payments exceeded ATM cash withdrawals for the first time,” he added.

“As humans evolved, so did the form of our transactions. From barter system to metals, from coins to notes, from cheques to cards, today we have reached here.”

PM Modi said that now is the time that the FinTech initiative should be transformed into a FinTech revolution. 

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“We want to create a FinTech revolution that will strengthen every person in the country financially. We believe in sharing your experiences with experts and learning from them,” PM Modi said. 

“India’s digital public infrastructure solutions have made the lives of people around the world better,” he added.

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Speaking on the Gujarat International Finance Tec-City (GIFT City) PM Modi said, “GIFT City is not merely a premise, it represents India. It represents India’s democratic values, demand, demography & diversity. It represents India’s openness to ideas, innovation and investment.”

A statement issued by the PMO said that the two-day forum would consider how to strengthen the industries associated with it from both technology and business perspectives. The forum is being hosted by the International Financial Service Centers Authority (IFSCA) in association with Bloomberg and the Government of India.

PM Modi had encouraged the youth to start startups during a program on Wednesday. 

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According to the information given out by the PMO, Fintech should move beyond the boundaries. Apart from PM Modi, Reliance Industries chief Mukesh Ambani, along with the finance ministers of Malaysia and Indonesia, also addressed the forum.

first published:Dec. 3, 2021, 12:14 p.m.

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