Indian PM, Narendra Modi announced that India is all set to serve as the next most valuable destination for establishing Fintech companies, in his talk at the Singapore Fintech Festival.
In his talk, he described the importance of the growing number of Fintech companies in the nation. Various applications have been launched which have made paper-less, cash-less and presence-less transactions, a risk-free possibility. Apart from that, healthcare, the banking system, and environment-related issues are being efficiently managed by the use of AI, Blockchain and Machine learning.
Reportedly, Modi also said that using advanced technologies like Blockchain, AI and Machine Learning the lives of the underprivileged can be improved. This will lead to improvement of the nation’s position in the global economy.