Finclusion
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Paytm
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Finclusion
No Result
View All Result
Startup India has been instrumental in nurturing the entrepreneurial spirit in the country.

Startup India has been instrumental in nurturing the entrepreneurial spirit in the country.

Over 3,000 fintech start-ups in India, strengthens the country’s in the growing leadership sector

September 13, 2023
in Fintech
398 25
0
Share on FacebookShare on Twitter

India’s start-up sector has seen tremendous growth in the last few years. This was also a highlight of Prime Minister Narendra Modi’s Independence Day speech from the Red Fort. “Today my youth have propelled India to a certain position in the world’s first three startup economy systems. The youth of the world are amazed to see this power of India. Today the world is technology driven and the coming era is going to be influenced by technology,” the Prime Minister said. 

Launched in 2016, Startup India has been instrumental in nurturing the entrepreneurial spirit in the country while also contributing to its economic development. According to the Economic Survey 2022-23, more than 9 lakh jobs have been created by start-ups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Corporate Affairs. At the end of April 2023, there were 98,119 government recognised start-ups across 56 sectors in the country. Out of these, 3,085 startups are in the fintech sector. 

You might also like

UPI has crossed the 10 billion transactions for the second straight month in September.

UPI Transactions crosses 10 billion mark for 2nd straight month in September

October 3, 2023
India is expected to become a USD 5 trillion economy by 2027.

India’s roadmap to becoming a $5 trillion economy by 2027

September 29, 2023

The Fintech sector has tremendous growth potential and it remains one of the large untapped markets. This growth of fintech startups in the country can be attributed to rapid adoption of technology, increasing penetration of affordable smartphones and a growth of digital infrastructure including launch of Aadhaar and UPI. With UPI going international, the fintech sector will get a further boost. This would also strengthen the global presence of UPI.  

The growth in the fintech sector has also been made possible by the Digital India mission. Several fintech startups have steered the digital revolution in the country towards making India a cashless economy. From neighbourhood vegetable vendors to coffee houses, the ubiquitous presence of QR Codes has made mobile payments the norm. This reflects the ease of adoption of technology-driven services by people that has made their everyday lives easier. 

With the aim to make India a global hub for Fintech, the government launched the International Financial Services Centre (IFSC) at GIFT City in Gujarat. From banking to insurance management, IFSC-GIFT City has seen phenomenal growth across the entire spectrum of financial services. In order to expand its presence globally, International Financial Services Centre Authority (IFSCA), the regulator for IFSC, has signed several MoUs with other countries. This would provide a flow of information and global best practices that will help IFSC-GIFT develop further into a preferred international destination for financial services.

Tags: financial servicesPrime Minister Narendra Modistartupstartup sector in indiaUPI

Related Stories

UPI has crossed the 10 billion transactions for the second straight month in September.

UPI Transactions crosses 10 billion mark for 2nd straight month in September

by Finclusion
October 3, 2023
0

The Unified Payments Interface (UPI) has been instrumental in transforming payments in India by making mobile payments a seamless process....

India is expected to become a USD 5 trillion economy by 2027.

India’s roadmap to becoming a $5 trillion economy by 2027

by Finclusion
September 29, 2023
0

India is currently the 5th largest economy in the world and is expected to become a USD 5 trillion economy...

Vijay Shekhar Sharma, the founder and CEO of One 97 Communications Limited, has become the biggest shareholder of Paytm.

Vijay Shekhar Sharma: Becomes the Biggest Stakeholder of Paytm

by Finclusion
September 28, 2023
0

In a recent, surprising turn of events, Vijay Shekhar Sharma, the founder and chief executive officer of One 97 Communications...

Start-up founders have written a joint letter to the Telecom Regulatory Authority of India (TRAI), urging it to support the principles of net neutrality.

Net Neutrality back in the spotlight: More than 130 start-up founders write to TRAI

by Finclusion
September 27, 2023
0

Start-up founders have written a joint letter to the Telecom Regulatory Authority of India (TRAI), urging it to support the...

Next Post
Bengaluru-based fintech company Perfios has raised $229 million in a new funding round from Kedaara Capital.

Fintech company Perfios raises $229 million in a new funding round from Kedaara Capital

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finclusion

Quick Links

  • About Us

Follow Us

No Result
View All Result
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version