Prime Minister Narendra Modi on Thursday said that that India's UPI, Adhaar-enabled payment, Bharat Bill payment system, Bharat QR, Digi locker, Digi yatra are the backbone of country.
He hailed India’s fintech and digital transformation, calling it a “ray of hope” for South Asia and a global model of good governance.
PM Modi said the ONDC (Open Network for Digital Commerce) is proving to be a blessing for small businesses, helping democratise e-commerce and empower entrepreneurs.
Highlighting India’s digital revolution, he credited the JAM trinity- Jan Dhan, Aadhaar, and Mobile, for making digital payments a routine part of daily life.
“Out of every 100 digital transactions globally, 50 take place in India,” he said, highlighting the country’s leadership in digital innovation.
Modi said India’s fintech ecosystem is maturing rapidly, with homegrown solutions like interoperable QR networks and open finance systems setting new benchmarks. “In the first six months of this year, India ranked among the world’s top three most-funded fintech ecosystems,” he added.
He said that India’s fintech growth will rest on three principles — equitable access, population-scale skilling, and responsible deployment. Modi also expressed confidence that the RBI’s digital currency will further strengthen the financial system, while India continues sharing technology and expertise with other developing nations.
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