Fintech in India: A Global Contender
India's fintech sector is booming, capturing 14% of global funding and ranking #2 in deal volume. The projected market potential is USD 2.1 Tn by 2030.
New Delhi (India), September 13: India's fintech sector is booming. With 3,085 startups registered with DPIIT, the nation stands out in the global fintech arena, capturing 14% of worldwide funding and ranking #2 in deal volume. The projected market potential is an impressive USD 2.1 Tn by 2030. Several factors drive this surge: diverse offerings, from digital payments to insurtech, Indian fintech caters to a broad financial spectrum; favorable regulation from government agencies like the DPIIT, offering a conducive environment for fintech growth; and a vast market where many in India remain underbanked, presenting a massive opportunity for fintech services.
Siddharth Zarabi discussed the landscape with Somyajit Ghosh of India Lends and Mohit Bedi of Kiwi. Ghosh emphasized the evolving consumer demands for quick lending solutions, while Bedi stressed continuous innovation to meet these needs. By 2030, as digital adoption grows and collaborations between fintech and traditional institutions increase, India's fintech space looks set to shine on the global stage. However, challenges like regulation and cybersecurity remain vital to address
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