Mumbai: Prime Minister Narendra Modi on Tuesday said that India’s fintech story has been wonderful and that UPI played a very important role in its growth.
He said that any discussion of FinTech is incomplete without UPI.
Addressing the Global Fintech Fest (GFF) 2026 in Mumbai, the PM further noted that, though difficult phase due to conflicts and uncertainties, India’s GDP grew 7.8 percent between April to June in the first quarter of the current financial year.
UPI a major champion of India’s FinTech story: PM Modi
“India’s fintech story has been wonderful, and UPI is a major champion of India’s FinTech story.It is such a big transformation that any discussion of FinTech feels incomplete without UPI. Recently, on 25th August, UPI completed 10 years,” the PM said.
Talking about the ongoing conflicts across the globe, the PM added, “The world is going through a phase of conflicts and uncertainties. There is pressure on energy and commodity supply chains. This has been going on for months, and the April to June quarter has been particularly challenging. At a time like this, when India grows at 7.8%, the world gains new trust. Recently, Japan’s credit rating agency upgraded India’s sovereign rating to the A category.
‘World passing through a phase of conflict and uncertainty’
“You all know very well what the state of the world is. The world is passing through a phase of conflict and uncertainty. Even within this, the quarter from April to June has been the most challenging. And within that, when India grows at 7.8%… the world gains a new confidence,” the PM noted.
Observing that it was his third consecutive year at the Global Fintech Fest, the PM further said, “ This hat-trick shows how important you are for a developed India, how important your work is. Whenever I come here, we see more youth than before, we experience more energy than before. Therefore, my confidence in the future of a developed India is growing even stronger.
