PM pitches India’s fintech start-ups to Global South

Prime Minister of India Narendra Modi pitched India as a fintech hub for the Global South to “enhance digital cooperation and partnership across the world,” at an event where he shared the stage with Prime Minister of U.K. Keir Starmer, at Mumbai on October 9.

Speaking at the last day of Global Fintech Fest 2025, Mr.Modi said : ”India’s success in technology is not just for its own benefit — it is a beacon of hope for the Global South. India wishes to enhance digital cooperation and partnership across the world, sharing its experience and open-source frameworks as global public goods,” adding that India’s AI journey also is to make it resilient, sustainable and inclusive.

Echoing this, Mr.Starmer named four fintech companies — Razorpay, Cred, Paytm and Perfios– which plan to invest in the U.K.During his speech, he said he had come to India with a 126-member delegation of British businesses comprising who’s who of Indian finance and technology sector. He further provided examples of previous instances of such collaborations like the COVID vaccination programme in India, which was an outcome of Oxford, AstraZeneca and the Serum Institute of India. “I’m here to extend an invitation to all of you. To do business with Britain. To see the U.K. as your gateway to going global,” Mr. Starmer said expressing his interest to host Indian business. The U.K. premier also said the country is set to open a dedicated investment office for fintech companies intending to enter U.K. Mr. Starmer lauded the U.K.-India FTA as the largest post-Brexit deal for the U.K.

Speaking about India’s achievements in AI, he said that democracy was not limited to policy and now was focused on making technology more inclusive while the world was debating digital divide. “For a long time, the world debated digital divide. But India has turned that debate into a story of inclusion. India has democratised technology — made it accessible to every citizen, in every region….India has shown that technology can be a means of inclusion, not exclusion,” Mr. Modi said.

“We are strengthening connections between startups, institutions, and innovation hubs. The U.K.–India FinTech Corridor will help start-ups pilot and grow new solutions. Collaboration between the London Stock Exchange and GIFT City will enhance financial integration and benefit companies under the Free Trade Agreement,” Mr. Modi said, mentioning future initiatives to advance trade.

Mr. Modi also spoke about the achievements of fintech in India and its role in reaching the unbanked and deserving sectors. “I am glad that Indian States are now embracing open ecosystems. Many of you may be familiar with ONDC (Open Network for Digital Commerce) — a network being built for small shops and MSMEs, giving them nationwide market access. Similarly, OCEN (Open Credit Enablement Network) is expanding access to credit for small enterprises and addressing the credit gap for MSMEs

Appreciating the current level of partnership between the U.S. and India, the heads of both the governments underlined the possibility of such further collaborations in the future. India-U.K. bilateral trade is currently worth $56 billion and in five years, it needs to be doubled but the target can be reached earlier than that, said Mr. Modi speaking at an another forum.