Today, we are in an entirely different era where the flow of finance is fast and inclusive, and physical requirements have almost ended, said Nand Gopal Gupta ‘Nandi’, Uttar Pradesh minister for industrial development, export promotion, NRI and investment promotion, while inaugurating the two-day Money Alpha 360° Summit’.
The meet was organised by the India Exposition Mart Limited (IEML) at the India Expo Centre & Mart in Greater Noida on Friday.
Addressing the gathering, the minister said there was a time when finance was entirely paper-based. Transactions meant long queues, slow processes, and extended waiting. Banking was completely physical, capital was limited, and opportunities were restricted to only a few.
“But today, we are in an entirely different era where the flow of finance is fast and inclusive, and physical requirements have almost ended,” said Gupta.
India today accounts for nearly 49% of the world’s real-time digital transactions through UPI. India is now advancing towards a transparent and inclusive ecosystem through AI, blockchain, and fintech, he added.
The minister pointed out that today even a vegetable vendor or tea seller accepts payments via QR code, while large investors can seamlessly move capital at a global level. Digital finance has made opportunities simpler than ever before, said the minister.
“Digital payments have now become an integral part of the economic ecosystem which is a sign of a major and historic transformation. In this era, technology has not only accelerated the pace of finance but also expanded its boundaries, ” he added.
{{/usCountry}}“Digital payments have now become an integral part of the economic ecosystem which is a sign of a major and historic transformation. In this era, technology has not only accelerated the pace of finance but also expanded its boundaries, ” he added.
{{/usCountry}}Prominent among those present on the occasion, Yeida CEO Rakesh Kumar Singh, Noida Authority ACEO Vandana Tripathi, and IEML chairman Rakesh Kumar.