Finance Minister Nirmala Sitharaman visited Pine Labs, a Noida-based fintech firm, acknowledging the role of fintech innovation in India's digital public infrastructure and financial services for MSMEs.
During the visit, Sitharaman emphasized the importance of digitization and incentivizing states to expedite their digital transformation efforts.
The Finance Minister witnessed demonstrations by Pine Labs on prepaid instruments, account aggregator framework, and digital services for government schemes during the visit.
India has established itself as a global fintech hub with the highest adoption rate, strong regulatory support, funding, and technological readiness, expected to reach a market value of $180-200 billion by 2029.