FINTECH INDUSTRY IN INDIA: EMPOWERING ECONOMY BY FOSTERING INNOVATIONS, INCLUSION AND BUILDING A SUSTAINABLE FUTURE
Dr. H.R. Kaushal
Associate Professor, Department of Commerce, Soban Singh Jeena University Campus, Almora ,Uttarakhand
Abstract
FinTech is a rapidly revolving segment of the financial services sector where tech - focused startup and other new market entrants are disrupting how the financial services industry traditionally operates. New Fintech industry and market activity are reconstituting the competitive landscape in the financial service sector. With a population of around 1.4 billion, India is one of the fastest - growing Fintech industry in the world. The India Fintech market size is estimated at USD 145.09 billion at end of 2025, and expected to reach USD 550.21 billion by 2030, at a CAGR 30.55 percent during the forecast period 2025-30. Boosting over 9000 Fintech entities. India ranks third globally in terms of the highest number of Fintech entities. The adoption rate of Fintech entities in India is 87% which is well above the global average of 64%. Fintech industry can be contributed to the Viksit Bharat Mission, 2047, by simplifying access to financial services and empowering the underserved segment of society. By addressing key challenges like unemployment, credit cap, financial literacy and access to technology, Fintech have the potential to catalyze economic growth and social progress. This research paper aims to describe the market trends, growth drivers, issues & challenges and highlight the major opportunities to harness the potential of Fintech industry to drive sustainable growth, prosperity and explore the emerging themes in Fintech ecosystem, analyze the Fintech regulatory landscape, and bridge the gap between urban & rural India and towards achieving the goal of Viksit Bharat Mission, 2047.
Keywords: Fintech, Fintech Industry, Fintech Ecosystem, Underserved segment, Embedded Finance, Insurance Tech, Reg Tech., Growth drivers
Journal Name :
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EPRA International Journal of Economics, Business and Management Studies (EBMS)
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Published on : 2025-05-25
| Vol | : | 12 |
| Issue | : | 5 |
| Month | : | May |
| Year | : | 2025 |