Mumbai, September 9, 2026:“India should export financial services to other parts of the globe that are not yet as developed, leveraging its experience in building financial services at scale,” said Shri Rajesh Agrawal, Commerce Secretary, Government of India, at Global Fintech Fest (GFF) 2026, held from September 8–11 at Jio World Centre, Mumbai. “India’s services export basket must go beyond IT and professional services and include fintech services. Capturing even a tenth of the global opportunity,” he said, “could take India’s fintech exports from $8 billion today to $60 to 80 billion.”
GFF 2026 is organised by PCI, NPCI and the FCC, and supported by MeitY, the Department of Financial Services, the Ministry of External Affairs’ NEST Division, NITI Aayog, RBI, SEBI, IFSCA and PFRDA.
Shri Agrawal saidone of the major initiatives of the government is to develop IFSC at GIFT City, Ahmedabad, as an institutional gateway for exporting financial services to the world. He also praised India’s startup ecosystem and urgedstartups tomake an impact in the financial sector, alongside bigger companies.
On the trade policy front, he said India is negotiating numerous free trade agreements. “In the last five years alone, we have concluded nine agreements, covering economies that represent $60 trillion of global GDP. This opens up immense opportunities for our trade in goods and services. Trade in services is a key area of our negotiations, and within that, financial services play a crucial role. I believe we have successfully signed MoUs with 23 countries for cooperation on Digital Public Infrastructure,” he added.
Healso spoke of sector-led opportunities including technology-led credit assessment amid falling lending rates, a fast-growing online insurance sector, and exportable wealth-management technology.
About Payments Council of India (PCI)
The Payments Council of India (PCI) was formed under the aegis of the Internet and Mobile Association of India (PCI) in the year 2013 catering to the needs of the digital payment industry. The Council was formed inter-alia to represent the various non-banking payment industry players, and to address and help resolve various industry-level issues and barriers that require discussion and action.
The council works with its 220+ members, encompassing over 90% of the industry to promote payments industry growth and to support our national goals of ‘Cashless Society’ and ‘Growth of Financial Inclusion’ which is also the Vision Shared by the RBI and the Government of India. PCI represents the complete digital payments ecosystem of India through its various committees representing different sectors.
About National Payments Corporation of India (NPCI)
National Payments Corporation of India (NPCI) is the umbrella entity responsible for operating retail payments and settlement systems in India. It is established by the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA). The Company is focused on bringing innovations in the retail payment systems by using technology for achieving greater efficiency in operations and widening the reach of payment systems. NPCI is committed to harnessing the transformative potential of deep tech, creating an ecosystem that fosters collaboration to work on breakthrough technologies. Underlining its commitment to service, NPCI has been incorporated as a “Not for Profit” Company to provide infrastructure to the entire Banking system in India for physical as well as electronic payment and settlement systems.
NPCI has made a profound impact on India’s retail payment landscape, focusing on creating robust, efficient, and inclusive payment and settlement solutions. NPCI has been instrumental in introducing a range of products that have revolutionised retail payment systems. These include Unified Payments Interface (UPI), RuPay, National Automated Clearing House (NACH), Immediate Payment Service (IMPS), National Electronic Toll Collection (NETC), Aadhaar Enabled Payment System (AePS), e-RUPI and more. Each of these products has contributed significantly to enhance the efficiency and accessibility of payment systems in India, ultimately propelling financial inclusion.
NPCI has played a fundamental role in establishing the foundation for India’s rapidly growing digital payments ecosystem, projecting the country onto the global stage.
NPCI has four wholly owned subsidiaries – NPCI International Payments Limited (NIPL) and NPCI Bharat BillPay Limited (NBBL), NPCI BHIM Services Limited (NBSL) and NPCI Tech Solutions Limited (NTSL), established in pursuance of NPCI Board & RBI approval.
For more information visit: https://www.npci.org.in/
About Fintech Convergence Council (FCC)
Established in 2018, the Fintech Convergence Council (FCC) is an industry body representing the collective voice of fintech companies in India. Since its inception, the FCC has evolved into a leading platform with a diverse membership of over 280 fintech entities across key segments including digital lending, wealth, insurance, RegTech, and credit bureaus. The FCC’s core mission is to address sector-specific challenges and provide a unified platform for dialogue within the broader BFSI (Banking, Financial Services, and Insurance) ecosystem.
The council actively engages with regulators and policymakers to help shape progressive policy frameworks and promote a balanced approach to innovation and compliance. In addition to policy advocacy, the FCC also focuses on knowledge sharing, strengthening consumer education, and promoting responsible finance through awareness-building initiatives on customer protection, digital literacy, and best practices in fintech.
To learn more, please visit https://fintechcouncil.in
