#GFF2024 | Prime Minister #NarendraModi addresses special session of #GlobalFintechFest on its final day. #NDTVProfitLive
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00:00Thank you very much.
00:27Ladies and gentlemen, it's an honour to stand before you today as we welcome the esteemed
00:35Prime Minister of India, Sri Narendra Modi ji.
00:39His tireless dedication to public service, visionary leadership and unwavering commitment
00:46to the nation have left an indelible mark on our collective consciousness.
00:52As we gather here, let us reflect on the transformative journey that India has embarked
00:59upon under Prime Minister Modi ji's guidance.
01:02From economic reforms to digital empowerment, from Swachh Bharat Abhiyan to Make in India,
01:10his initiatives have touched every corner of a vast and diverse country.
01:16India today is the fastest-growing large economy, is on track to become a $10 trillion
01:24economy in the next 10 years, and a $30 trillion economy by 2047, achieving the goal of Big
01:39Singapore Bharat.
01:45Prime Minister Modi ji's vision extends beyond borders.
01:49His diplomatic acumen has strengthened India's position on the global stage.
01:55Whether it's fostering strategic partnerships or championing climate action or bringing
02:01peace to conflict regions, he leads with conviction and foresight.
02:06Today we celebrate not just a leader but a beacon of hope, a man who believes in the
02:12power of unity, innovation and progress.
02:17Sir, GFF 2024 is probably the world's largest annual Fintech Conference.
02:28GFF brings together luminaries, policymakers, regulators and Fintech founders for insightful
02:40discussions, groundbreaking technologies and networking opportunities.
02:45The theme for this year's event is Blueprint for the Next Decade of Finance, Responsible
02:51AI, Inclusive and Resilient, and features over 1,000 speakers and 300-plus sessions.
03:02Before I invite Honorable PM to speak, I would like to invite RBI Governor Sri Shaktikant
03:09Dasji to address you.
03:11RBI has been very key in partnering with GFF.
03:35Honorable Prime Minister, Sri Kris Gopalakrishnan, industry leaders, esteemed participants,
03:44members of the media, ladies and gentlemen, the Global Fintech Fest GFF has emerged as
03:52a flagship event showcasing innovations, technological transformation and the spirit of collaboration
04:00in the Indian fintech sector.
04:03Started in 2020 with 12,000 participants, GFF 2024 has so far seen 80,000 participants.
04:19This demonstrates not only the growing stature of this event, but also the growing prominence
04:24of India in the technology-driven financial innovation.
04:30The presence of the Honorable Prime Minister in GFF 2024 inspires all of us to put in our
04:38best efforts to build a fintech ecosystem that is truly future ready.
04:44In this endeavor, our priority should be to build an environment where financial services
04:50are seemingly integrated into the lives of our 1.4 billion people.
04:56India now stands on the cusp of a transformation where technology will be the engine to meet
05:03aspirations of every citizen.
05:06From mobile banking to digital payments, AI-driven lending, blockchain innovations, the fintech
05:13ecosystem is constantly evolving to meet the diverse needs of our growing economy.
05:20Digital technologies have been instrumental in expanding financial inclusion, improving
05:25efficiency and enabling real-time services across the country.
05:31Today, India stands as a global leader in digital payments, a feat achieved by combining
05:38proactive policymaking with innovation and innovators is a defining element of India's
05:51fintech journey.
05:53The success stories in our fintech space like Aadhaar, UPI and the DigiLocker are results
06:00of such collaborative efforts.
06:04Initiatives like Account Aggregator Framework, Unified Lending Interface, that is ULI, Open
06:09Credit Enabled Network, that is OCEN and several others are expected to redefine credit access,
06:18particularly for small businesses and individuals.
06:21The Reserve Bank's regulatory frameworks have facilitated new and innovative businesses
06:27to grow in an orderly manner.
06:30These regulatory initiatives reflect our commitment to support innovation with prudence.
06:36Our collaborative approach is visible in the fact that we have held large number of interactions
06:43over the last one year with the fintech sector players.
06:48For example, the various departments and officials of the Reserve Bank have held about 750 bilateral
06:55interactions and held about 50 structured meetings with the fintech players.
07:01As we march towards India at 100 in the year 2047, I urge every participant at this GFF
07:11and others who could not attend and hopefully and I'm sure they will attend the future editions
07:17of GFF event, I would urge each one of you to continue dreaming, innovating and pushing
07:25boundaries.
07:27Thank you, Gaurav sir.
07:28We request Prime Minister of India to address this August gathering.
33:34And I have so much faith in the talent of the youth of my country that I say with great confidence that our best is yet to come.
33:50This is your fifth convention, isn't it?
34:05So I will be there in the tenth.
34:20And then, you must not have imagined, you must have reached there too, friends.
34:40Today, I have met some of your start-up units.
34:46Not all of them, but some of them.
34:49But I have seen everyone's homework and come here.
34:59Because I can understand that this is an area of great change.
35:04A great revolution is happening.
35:08And I can see its strong foundation here.
35:18With this confidence, I wish you all a very, very happy new year.
35:25Thank you very much.