At the Global Fintech Fest in Mumbai on Wednesday, Commerce and Industry Minister Piyush Goyal declared trust as India’s defining asset in global finance—“the only currency that never depreciates.” In his keynote address he said India’s ascent from tech participant to architect, highlights its leadership in digital infrastructure, fintech innovation, and resilient trade.
‘Trust’ and digital leadership
Goyal credited Prime Minister Modi’s leadership and his Viksit Bharat 2047 vision for empowering 1.4 billion citizens through affordable data, clean energy, and AI-driven opportunity. With exports growing despite global headwinds and UPI expanding to nine countries, India is now seen as a dependable partner for talent, services, and timely delivery, he said.
Goyal emphasised despite global headwinds, India’s exports in goods and IT services have grown steadily, supported by GST-led consumption and massive infrastructure upgrades. Mumbai’s transformation with metro expansion, a new airport, and coastal connectivity is mirrored nationally, where airports have doubled and port capacity surged.
$35 trillion economy and the AI frontier
India’s $4 trillion economy, now the fourth largest globally, is targeting $30–35 trillion by 2047. Goyal positioned AI as India’s next Y2K moment where talent, data, and entrepreneurial energy converge to claim global leadership. With 500 GW of clean energy powering data centers and innovation, India is poised to become the epicenter of fintech and AI.