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India has one of the top five start-up ecosystems in the world and over the years, India has become one of the world’s leading countries in FinTech adoption. FinTech industry in India is strongly positioned to realize a total industry valuation of USD 150-160 billion over the next five years, creating an incremental value of USD 100 billion. A significant amount of value creation will happen as more than 50 new FinTechs will enter the USD 100 million+ valuation club. To realize this potential, India would require USD 20-25 billion of investments over the next five years.

India has one of the top five start-up ecosystems in the world and over the years, India has become one of the world’s leading countries in FinTech adoption. FinTech industry in India is strongly positioned to realize a total industry valuation of USD 150-160 billion over the next five years, creating an incremental value of USD 100 billion. A significant amount of value creation will happen as more than 50 new FinTechs will enter the USD 100 million+ valuation club. To realize this potential, India would require USD 20-25 billion of investments over the next five years.

The strength of India’s FinTech landscape is evident from the diversity of its FinTech base. While Payments and Alternative Finance segment constituted more than 90 percent of India’s investment flows in 2015, there has been a shift towards a more equitable distribution of investment across sectors since. In 2020, FinTech SaaS and InsureTechs saw total investments of USD 145 million and USD 215 million respectively, reflecting a 4-5x growth over.

Indian start-ups are well on their way to stamping their presence in international markets. Companies like Ola, Oyo, Zomato and InMobi, having acquired significant scale and established their track record in India, have expanded to new geographies. Several FinTech companies are now following suit. These include B2B SaaS providers, Payment Platforms, Marketplaces and B2C players. An increasing number of Indian FinTechs are now actively considering international expansion. A large majority of these companies have significant potential to successfully take their products and services to new markets.

The growth of the FinTech sector in India can be attributed to an enabling regulatory framework and the tremendous support offered by Government of India.

The Union Budget for the financial year 2021-22, has detailed setting up of a "world-class" FinTech Hub at GIFT City in a bid to bolster innovation in the FinTech industry. The proposed framework by IFSCA is expected to provide an ecosystem for capital raising and listing by FinTech and other start-up companies.

FICCI, through it FinTech Committee, works with industry members from across segments to highlight to the policy makers the emerging requirements of this fast growing sector. We also create opportunities for Indian FinTechs to forge fruitful partnerships with Indian Financial Institutions such as Banks, Insurance Companies, NBFCs etc as well as engage with FinTech Ecosystem partners in other parts of the world for peer learning.

Team Leader

Anshuman Khanna

Assistant Secretary General

Timeline

2023
Jun
Event

Call for Application: PICUP Fintech Awards 2023

2022
Jul
Press Release

RBI working on phased implementation of Central Bank Digital Currency (CBDC) in both wholesale & retail segment: ED (Fintech), RBI

Event

4th edition of PICUP Fintech Conference and Awards

Jan
Policy

FICCI Fintech Committee Recommendations for Union Budget 2022-23

2021
Dec
Event

InFinity Forum 2021

Mar
Press Release

FICCI-IFSCA sign MoU for development of GIFT City as world-class Fintech hub

Press Release

India's FinTech industry valuation estimated at USD 150-160 billion by 2025: FICCI-BCG report

Press Release

Fourth Industrial Revolution will be shaped by India; FinTech to play important role: Injeti Srinivas, Chairman, IFSCA

Event

FICCI Fintech Expo 2021 and Conference 'Showcasing Indian Fintechs to the World'

2020
Oct
Event

Fintech Showcase Series Best of Women-led Fintechs in India

Events

Jun, 2023

Call for Application: PICUP Fintech Awards 2023

Jun 15, 2023 -

Jul, 2022

4th edition of PICUP Fintech Conference and Awards

Jul 20, 2022 Hybrid

Dec, 2021

InFinity Forum 2021

Dec 03 - Dec 04, 2021 Virtual Platform

Aug, 2021

Digital Roadshow on Opportunities for Fintechs in GIFT IFSCA (postponed)

Aug 12, 2021 Virtual Platform, 4.00 pm to 5.15 pm (IST)

Mar, 2021

FICCI Fintech Expo 2021 and Conference 'Showcasing Indian Fintechs to the World'

Mar 10 - Mar 11, 2021 Virtual Platform

Oct, 2020

Fintech Showcase Series Best of Women-led Fintechs in India

Oct 27, 2020 Virtual Platform

Chair

Mr. Saurabh Tripathi

Senior Partner and Director and the APAC Regional Practice Leader of Financial Institutions Practice at the Boston Consulting Group

Co-Chair

Mr Adhil Shetty

CEO
BankBazaar

Co-Chair

Mr M.N. Srinivasu

Co-founder & Director
Billdesk

Co-Chair

Mr Sabyasachi Goswami

CEO
Perfios Software Solutions

Advisor

Mr Sudhakar Ramasubramanian

FICCI Fintech Committee Recommendations for Union Budget 2022-23

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The Statesman |

PM to inaugurate InFinity Forum on Friday

United News of India |

PM Modi to inaugurate 'InFinity Forum' on Dec 3

Financial Express |

RBI to set up innovation hub for finance sector

The Times of India |

RBI to set up innovation hub for finance sector

Framework for Facilitating Small Value Digital Payments in Offline Mode

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Enabling Framework for Regulatory Sandbox

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RBI releases the Report of the Working Group on digital lending including lending through online platforms and mobile apps

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Financial Inclusion Index for India

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Prepaid Payment Instruments (PPIs) - (i) Mandating Interoperability; (ii) Increasing the Limit to ₹2 lakh for Full-KYC PPIs; and (iii) Permitting Cash Withdrawal from Full-KYC PPIs of Non-Bank PPI Issuers

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Enhancement of limit of maximum balance per customer at end of the day from ₹1 lakh to ₹2 lakh - Payments Banks (PBs)

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Guidelines on Regulation of Payment Aggregators and Payment Gateways

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Operationalisation of Payments Infrastructure Development Fund (PIDF) Scheme (Updated as on August 26, 2021)

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RBI working on phased implementation of Central Bank Digital Currency (CBDC) in both wholesale & retail segment: ED (Fintech), RBI

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FICCI-IFSCA sign MoU for development of GIFT City as world-class Fintech hub

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India's FinTech industry valuation estimated at USD 150-160 billion by 2025: FICCI-BCG report

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Fourth Industrial Revolution will be shaped by India; FinTech to play important role: Injeti Srinivas, Chairman, IFSCA

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