India’s approach to fintech innovation must remain people-centric, ensuring that new technologies are built to improve lives, not complicate them, said Prime Minister Narendra Modi at the 6th Global Fintech Fest (GFF) 2025 in Mumbai on Thursday. He added that the fintech growth must be guided by speed, assurance, and inclusion, so that those using digital finance for the first time must have confidence that the system works for them.

He underlined that ensuring user trust is as important as technological progress, as only then can digital finance reach its full potential in transforming lives. Emphasising the transformative potential of artificial intelligence, he said, “AI can become the power of this transformation. For this, the design of AI applications will have to be kept in mind by people.”

He also highlighted the importance of trust and accountability in digital finance. “It should be believed that errors will be resolved swiftly. This confidence will strengthen digital inclusion and trust in financial services.”

Recalling how global conversations on AI have evolved, PM Modi said, “A few years ago, the AI Safety Summit started from the U.K. Next year, the AI Impact Summit will be held in India. That means, the discussion on safety had started in the U.K., and now the discussion on impact will be held in India.” He said this shift from safety to impact symbolises India’s growing leadership role in the global AI dialogue.

Speaking on international cooperation, Modi said, “India and the U.K. have shown the path of global inspiration.” He noted that the blend of the U.K.’s research and global finance exploration, along with India’s scale and talent, can open new opportunities for the entire world.

Announcing a new step in bilateral partnership, the PM said, “Today, we have decided to further strengthen the connection between startups, institutions, and innovation hubs. The U.K.-India FinTech Corridor will be an opportunity to pilot new startups and to move forward.” He added that new channels of collaboration between the London Stock Exchange and Gift City will create new ways of financial integration between the two countries. This integration, he said, would help Indian companies make maximum use of the free trade agreement with the U.K., boosting investment and innovation on both sides.

Further, the PM called for a fintech ecosystem that uplifts both people and the planet. “I invite every investor to grow with Indian growth. We have to create a FinTech world where technology, people, and planet can be enriched,” he said.