The Union Minister of Commerce & Industry Shri Piyush Goyal has said India is poised to become one of the largest digital markets in the world.
- Addressing the 2nd Global Fintech Fest-2021 through video conferencing today, he said, “At 87%, India has the highest FinTech adoption rate in the world against the global average of 64%.”
- As of May 2021, India’s United Payments Interface (UPI) has seen participation of 224 banks & recorded 2.6 billion transactions worth over $68 Bn and the highest ever, more than 3.6 Bn transactions, in Aug’21.
- The Minister said, under the National Broadband Mission soon every village in India will have high speed internet and this power can be leveraged to make India a Fintech Innovation Hub.
