PM Modi Praises India's Fintech Growth and UPI at Global Fintech Fest 2026

Speaking at the inauguration of the Global Fintech Fest (GFF) 2026 in Mumbai on Tuesday, Prime Minister Narendra Modi praised India's fintech progress and highlighted UPI as a major champion of this transformation. He stated that any discussion on fintech remains incomplete without UPI, which recently marked its 10th anniversary on August 25.

Addressing the global economic climate, PM Modi noted that the world is passing through a phase of conflict and uncertainty that has placed pressure on energy and commodity supply chains. Despite a particularly challenging quarter from April to June, India recorded a 7.8 percent GDP growth in the first quarter of the current financial year. He added that this growth inspires new global confidence, pointing out that a Japanese credit rating agency recently upgraded India's sovereign rating to the A category.

Marking his third consecutive year attending the Global Fintech Fest, the Prime Minister emphasized that his participation reflects how critical the sector is to building a developed India. Observing an increasing presence of youth and energy at the event, he expressed growing confidence in the country's future.