Business News: India’s Fintech Industry to Reach $200 Bn By 2030

22 Sep, 2023 Author: Ayushee Joshi

Fintech News: During the G-20 Summit, world leaders discussed embracing digital infrastructure in the same way as India has. In addition, at the G20 Summit, an agreement was achieved on global financial inclusion through the implementation of Digital Public Infrastructure (DPI), which is expected to help the Indian fintech industry in a significant boom. According to the RBI, the Indian fintech industry might reach $200 billion by 2030, with worldwide fintech turnover estimated to reach $1.5 trillion.

RBI Predicts Fintech Boom in India

According to official data, India’s fintech industry was worth $50 Billion in 2021 and is expected to grow to $150 Billion by 2025 and $200 Billion by 2030. Through digital public infrastructure, India has emerged as a role model for financial inclusion, and many nations are likely to replicate India’s digital approach to financial inclusion. According to analysts, the world aspires to imitate the Indian government’s move toward financial inclusion through the Jan Dhan Yojana, Aadhaar, and mobile. More than 24 percent of the global population does not have a bank account.