BFSI Innotribe Summit
Since the Indian Prime Minister Modi declared at the 2018 World Economic Forum that India’s economy, already the fifth largest in the world, will double, to $5 trillion, by 2025, we have seen an even bigger wave of global firms showing interests in investing in India. According to Harvard Business Review, the top global attractions of our country for investors are its growth in infrastructure spending, the emerging middle class being stronger than ever and that our country is a tech startup boom.
With these emerging markets comes the emerging sector of Fintech innovations and technology concurring the BFSI sector. As per the Global Innovation Index, where we have seen an improvement of the rise in the ranking from 81 to 52 from the year 2015 to 2019, India has also improved its reputation in terms of the risk posed to foreign investments and, in 2019, ranked third in the world in terms of attracting investment for technology transactions.
In order to stay relevant in the global markets and continue the growth statistics, the country needs to focus on its government regulations and drive attention to support the technological innovation. This also includes the training and development of the tech master mind talent, providing opportunities and let it bloom.