PM Modi Asserts India’s AI Mission Can Safeguard Data and Privacy at Fintech Fest

At the Global Fintech Fest 2025, Prime Minister Narendra Modi emphasized India’s proactive approach to artificial intelligence (AI), asserting that while the world debates trust and safety in AI, India has already embedded a trust layer within its AI mission. Modi highlighted AI’s transformative potential across sectors, stressing the need for people-centric AI solutions that enhance payments, credit, insurance, and investments. He noted that India’s AI initiatives focus on equitable access, population-scale skilling, and responsible deployment, ensuring that technology serves as a tool for empowerment and inclusivity rather than mere convenience.

Modi elaborated that India has democratized technology over the past decade, making digital tools accessible to all citizens and regions, creating a model of good governance. He underlined the role of JAM (Jan Dhan, Aadhaar, Mobile) in enabling routine digital payments, turning banking into a tool for empowerment rather than a privilege. The PM emphasized that AI applications should prioritize speed, assurance, accessibility, affordability, transparency, and timely delivery of services, asserting that AI can act as a driving force for transformative change across sectors.

In addition to domestic initiatives, Modi underscored India’s commitment to global cooperation through digital innovation. He highlighted India’s open-source platforms like the Modular Open Source Identity Platform (MOSIP), which is now used by over 25 countries to build sovereign digital identity systems. He stressed that India’s support for other nations in developing technology is not “digital aid” but “digital empowerment,” reflecting the country’s philosophy of inclusive growth and knowledge sharing.

On governance and democracy, Modi stated that India exemplifies the mother of democracy, extending democratic principles beyond elections and policymaking into governance. He noted that inclusive governance has driven transformations in the banking system and other sectors, demonstrating how technology can bridge societal inequalities.

Modi also highlighted India-UK partnerships, emphasizing the Comprehensive Economic and Trade Agreement (CETA) signed in July 2025. He pointed out that collaboration between the two nations, combining the UK’s research and financial expertise with India’s scale and talent, can create new global opportunities. The UK-India fintech corridor, as part of this partnership, will strengthen connections among startups, institutions, and innovation hubs, providing opportunities to pilot new ventures. Modi mentioned that this corridor would also facilitate collaboration between the London Stock Exchange and GIFT City.

UK Prime Minister Keir Starmer hailed CETA as the biggest trade deal the UK has executed post-Brexit, projecting it to add billions of pounds to the UK’s GDP and hundreds of billions of rupees to India’s economy, alongside increasing wages. Four major fintech companies—Razorpay, Cred, PayTm, and Perfios—are reportedly planning investments in the UK, indicating strong cross-border fintech engagement.

Modi described CETA not merely as a trade agreement but as a roadmap for shared progress, prosperity, and people-centric growth. The deal provides market access and targeted support to MSMEs, strengthening bilateral economic ties. The current trade volume between India and the UK stands at approximately $56 billion, with a goal to double it by 2030, and Modi expressed confidence that this target could be achieved sooner.

In conclusion, Modi’s address outlined India’s strategic vision for AI as a transformative, inclusive, and ethically guided force, emphasized the democratization of digital technology for empowerment, and highlighted strengthened bilateral ties with the UK through trade, fintech collaboration, and MSME support, showcasing India as a global leader in technology-driven growth and inclusive governance.