India now a maker of technology, not just a market: Jyotiraditya Scindia

Union Minister Jyotiraditya Scindia highlighted India's transformation from a technology market to a tech maker. At the Global Fintech Fest, he noted India's shift to a product-driven ecosystem, citing massive growth in digital payments via UPI.

India's Tech Transformation

Union Minister for Communications Jyotiraditya Scindia on Thursday highlighted India's growing role in technology and said the country is no longer just a market for technology but has emerged as a maker and builder of technology platforms.

Speaking to the reporters at the Global Fintech Festival, Scindia said India is moving from a services-driven paradigm to a product-driven ecosystem, reflected in the country's fintech growth. "The PM is very clear in his vision that India today is no longer, as I mentioned, a market for technology, but it is a maker of technology. It is a builder of platforms, and today India is moving from a services paradigm to a product paradigm, and you're seeing that very embodiment in the Global Fintech Fest," Scindia said.

Digital Payment Dominance

Highlighting India's digital payments growth, the Union Minister said the country accounts for nearly 49 per cent of all digital transactions globally. "UPI alone does over 240 billion transactions a year and moves close to USD 4 trillion worth of finances," he said.

Scindia said India is contributing to the world in areas such as artificial intelligence and fintech models, adding that this progress has been supported by the robust telecom network established in the country over the last 12 years. "India today is contributing to the world in terms of AI, in terms of fintech models, and all of this has a liftoff from the very robust telecom network that has been set up by the PM in the last 12 years in our country," he added.

Engaging with India's Future

He also said that his interaction was not limited to Gen Z, Gen Alpha or Gen Beta, but was a dialogue with the future of India that would lead the country towards the vision of 'Viksit Bharat 2047'.

Scindia said achieving the vision of a developed India would require collective efforts from every citizen. "I did not just speak to Gen Z, Gen Alpha, or Gen Beta; I engaged in a dialogue with the future of India—the very future that will steer this nation toward the vision of a 'Viksit Bharat 2047'. Success in this grand endeavour is possible only through the collective effort of every single citizen of the country," Scindia said.

He said his discussions were based on a positive mindset and ideology, adding that he gained valuable insights during the interaction. "I wish not only to extend my best wishes but also to express my gratitude to this organisation for the way it has elevated India's stature on the global stage—going beyond just serving the youth," he added.

Upcoming BRICS Summit 2026

Speaking about the upcoming BRICS Summit 2026, Scindia said leaders from participating nations, including Presidents, Prime Ministers and Ministers, would be present in India for the historic conference. "Presidents, Prime Ministers, and Ministers from all participating nations will be present in India for this historic conference. We are fully confident that this summit will generate new ideas and perspectives—not just for BRICS, but for the entire world," he said.

Scindia added that the resolution of the summit is expected to be passed shortly and said India is looking forward to the outcome. "The resolution is set to be passed the day after tomorrow, so we await that outcome," he said. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)