| ID | 045128 |
| Title Proper | Powering a $5 Trillion Economy |
| Other Title Information | How Fintech is Driving Inclusive growth in India |
| Language | ENG |
| Author | Sengunthar R. |
| Summary / Abstract (Note) | India is witnessing a financial services revolution powered by financial technology (fintech) innovations. Over the past decade, a vibrant fintech ecosystem has reimagined how individuals and businesses access credit, make payments, insure assets, and invest savings. Digital platforms are reaching hundreds of millions of people – many for the first time – with convenient and affordable financial solutions. This surge of innovation is not only transforming finance but also accelerating India’s broader economic ambitions. As the nation aspires to become a $5 trillion economy and achieve the vision of Viksit Bharat (a developed India) by 2047, fintech has emerged as a key catalyst for inclusive growth, resilience, and productivity.
India’s journey to becoming a fintech leader began in the early 2010s with a wave of startups targeting inefficiencies in traditional banking. Entrepreneurial fintech ventures emerged to tackle pain points in payments, lending, money transfers, and personal finance. Backed by a supportive startup ecosystem and eager consumers, these companies rapidly proliferated. Today, India has nearly 10,000 fintech startups – the third-highest number in the world – spanning diverse domains such as mobile payments, digital lending, wealthtech, insurtech, and neobanking. This flourishing ecosystem has attracted substantial investor interest, placing India among the top recipients of global fintech funding and deal activity in recent years |
| `In' analytical Note | The Indian Banker vol. XIII, 9 (01-05-2026) pp12-21 |
| Journal Source | The Indian Banker 2026-05 XIII, 9 |
| Classification Number | 332.1 |