“FinTech is not only an enabler but the driving engine”
– Pierre Gramegna, Minister of Finance, Government of the Grand-Duchy of Luxembourg
Since the Indian Prime Minister Modi declared at the 2018 World Economic Forum that India’s economy, already the fifth largest in the world, will double, to $5 trillion, by 2025, we have seen an even bigger wave of global firms showing interests in investing in India. According to Harvard Business Review, the top global attractions of our country for investors are its growth in infrastructure spending, the emerging middle class being stronger than ever and that our country is a tech startup boom.
With these emerging markets comes the emerging sector of Fintech innovations and technology concurring the BFSI sector. As per the Global Innovation Index, where we have seen an improvement of the rise in the ranking from 81 to 52 from the year 2015 to 2019, India has also improved its reputation in terms of the risk posed to foreign investments and, in 2019, ranked third in the world in terms of attracting investment for technology transactions.
In order to stay relevant in the global markets and continue the growth statistics, the country needs to focus on its government regulations and drive attention to support the technological innovation. This also includes the training and development of the tech master mind talent, providing opportunities and let it bloom.
The Indian tech leader mindset and resources have been used globally for an “On a Budget” IT market since the 80’s and somehow became the go do business model for the MNC’s. The question here arises on how we can turn the tables making this an opportunity for the Indian market and the Indian Tech Talent with help of home grown Innovation and technology.
Since the Wuhan Pandemic hit us, we have seen a drastic change in the consumption pattern of the largest customer out base for the sector and the challenges which came with it has hit every organization and individual at a personal level. In 2021, while the organizations and trying to heal the side effects of this global crisis, the need of Innovation and improved technology for everything is bigger now than ever before.
About The Event
The 4th Edition of The Economic Times presents BFSI Innotribe Summit and Awards 2021, is a platform where we talk about the Indian Fintech sector driving the next wave of technological innovation in financial services. The Virtual meet will address some of the biggest questions in terms of what we need to do today to strengthen India’s position as the leading Asian market when it comes to technology, innovation and attracting foreign investments. India has technology and talent to drive that technology and this is the time to take the right step ensuring the two can make a real change in the Indian market helping us become global leaders in the field.
Wednesday – Thursday
September 8 – 9, 2021