PM Modi pitches India as favourite investment destination in Singapore

TIL Desk/National/Singapore/ Prime Minister Narendra Modi said on Wednesday that financial inclusion has become a reality for 1.3 billion Indians as he pitched India as a favourite destination for investment at the Fintech Festival in Singapore.

Modi became the first world leader to address the festival which was launched in 2016 and is in its third edition. “Financial inclusion has become reality for 1.3 billion Indians. We have generated more than 1.2 billion biometric identities- Aadhaar or foundation- in just a few years,” Modi said at the event. The Singapore Fintech Festival is already the world’s largest event on financial technology or fintech.

In 2017, the event drew as many as 30,000 participants from over 100 countries. The SFF involves a three-day conference, and exhibition of FinTech firms and capabilities, a global competition of FinTech solutions and a platform for matching entrepreneurs and investment capital. Modi said through Aadhaar and cellphones, his government has launched Jan Dhan Yojana and opened 330 million new bank accounts in three years.