India is your best destination: Modi woos investors at Singapore Fintech Festival

Prime Minister Narendra Modi on Wednesday delivered the keynote address at the Fintech Festival in Singapore. Addressing the gathering, Prime Minister Modi urged investors to venture in to the Indian market, saying, “I say this to all the fintech companies and startups – India is your best destination.”

Explaining the role of his government in ensuring financial inclusion for all India, the Prime Minister said that the Bharatiya Janata Party (BJP)-led NDA government provided a “solid foundation”.

“My government came to office in 2014 with a mission of inclusive development that would change the lives of every citizen, even the weakest in the remotest village. That mission needed a solid foundation of financial inclusion for all – a task that wasn't easy in a country of India's size,” said Prime Minister Modi.

Honoured to deliver the keynote address at the Singapore Fintech Festival. Watch my speech. https://t.co/HtlY1xmjLP — Narendra Modi (@narendramodi) November 14, 2018

He added that his government launched the Jan Dhan Yojana, which connected even the poorest to banks, giving them more financial security and opportunity.

The Prime Minister also referred to Aadhaar in this regard, saying, “Financial inclusion has become a reality for 1.3 billion Indians. We have generated more than 1.2 billion biometric identities - Aadhaar, in just a few years.”

Modi lauded the role of technology in transformation of global economy. He said that technology defined “competitiveness and power in the new world”.

“We are in an age of a historic transition brought about by technology. The character of the global economy is changing. Technology is defining competitiveness and power in the new world. And it is creating boundless opportunities to transform lives,” said the Prime Minister.

“We see inspiring stories of extraordinary innovation changing ordinary lives. But, there is much to be done. Our focus should be on development for all through development of the marginalised,” he added.

On the occasion, Prime Minister Modi also launched APIX, an online global fintech marketplace, which is aimed at benefitting those without bank accounts.