Google’s $10 billion fund is a testament to India’s accommodative ecosystem towards technology: Amitabh Kant

Highlighting how the fintech segment has marvelled in the country over the years, Amitabh Kant said that India provides an accommodative ecosystem promoting technology and digital prowess, which inspires confidence in the country and follow investments. “Google’s $10 billion fund is a testament to that,” he said.

Kant said that the financial technology sector has been the shining star of India’s startup and technology ecosystem, enabling seamless transition from physically connected to a physically distant but socially connected environment.

“India is following the global trend of fintech adoption curve. Early work in payments and fund transfers is now leading to increased appetite for digital lending and gradually leading to activities, such as insurance wealth management and traditional deposit public savings accounts. Covid-19 has accelerated the adoption of digital means of financial services. It has spurred the adoption of contactless digital payments. And there has been a surge in different payment volumes across online grocery stores, small retail outlets, among others,” he said at the virtual event of Global Fintech Fest.