Modi & Keir Starmer share the stage at Global Fintech Fest, Mumbai: what it means for fintech, trade, and digital trust

Date & venue: October 9, 2025 — Jio World Centre (Jio World Convention Centre), Mumbai. Both Prime Minister Narendra Modi and UK Prime Minister Keir Starmer addressed the 6th edition of the Global Fintech Fest (GFF), a marquee gathering organized by PCI, NPCI and the Fintech Convergence Council. Global Fintech Fest+2Press Information Bureau+2

The moment in Mumbai

Seeing the Indian and UK Prime Ministers on the same fintech stage is a statement in itself: India’s digital public infrastructure has gone global, and the UK is openly exploring how pieces of that blueprint can inform its own approach. GFF 2025 explicitly listed both leaders as headliners, and their Mumbai program included meetings on trade, tech, and digital policy. Global Fintech Fest+1

What the leaders focused on

• Digital rails & inclusion. Modi spotlighted India’s “technology for all” model—think UPI, Aadhaar-enabled services, and open networks—arguing that inclusive rails are the bedrock of fintech scale. He framed India as “one of the world’s most technologically inclusive societies,” a narrative consistent with India’s last-decade push to make digital payments ubiquitous. The Statesman

• UK interest in trusted digital ID. Starmer signalled the UK’s intent to study India’s digital identity success (and pitfalls) while committing to a UK-specific, privacy-conscious version. The emphasis: simpler public services, lower fraud—without importing biometric requirements. The Guardian

• Trade, tech, and investment. Alongside the GFF optics, the visit was tied to deepening UK–India trade and technology cooperation—with fresh investment figures and a focus on advanced manufacturing, clean energy, and digital trade. Reuters+1

Why this matters (beyond the photo-op)

1. Fintech playbooks are going cross-border. India’s stack (UPI + Aadhaar + open APIs) is no longer just an India story; it’s a living laboratory that other governments are now examining for their own contexts. Expect more bilaterals to treat “digital public infrastructure” as strategic as roads or ports. The Guardian

2. Regulation meets innovation. With RBI, SEBI, IFSCA and the Finance Ministry also on the GFF agenda, the policy signal is clear: India wants to stay pro-innovation while tightening guardrails on security, consumer protection, and cross-border flows. jioworldcentre.com

3. Capital and talent gravity. Large trade missions plus marquee keynotes draw investors, founders, and regulators into the same rooms. That accelerates pilots (think real-time remittances, SME credit rails, open finance use-cases) and speeds standards alignment. Reuters+1

India’s fintech edge, in one snapshot

• Scale + instant payments: UPI processes billions of monthly transactions with near-zero MDR for consumers, making digital the default even for micro-payments and P2P. (Background from prior GFFs and India’s public data; reiterated in today’s speeches.) The Statesman

• Interoperable building blocks: From eKYC and DigiLocker to account aggregators, modular public rails let private fintechs innovate faster—with lower customer acquisition friction. The Statesman

• Global showcase platform: GFF has become the place where those rails meet venture capital, banks, and foreign delegations—this year, featuring both PMs on day three in Mumbai. Global Fintech Fest

What to watch next

• UK’s digital ID consultation path. Starmer has stressed privacy and inclusivity for any UK ID scheme. Watch for concrete consultation papers, pilot scopes, and the exact role of biometrics (or lack thereof). The Guardian

• A fintech-inflected trade chapter. Post-visit communiqués often hide the most actionable lines: data flows, fintech sandboxes, standards recognition, and talent mobility. Keep an eye on joint statements summarizing today’s outcomes. Reuters+1

• Cross-border real-time payments. With UPI linkages already expanding in Asia and the Middle East, UK corridors could be the next logical experiment—subject to compliance and AML assurances. (Inference based on broader policy trendlines.) Reuters

If you’re a founder or investor, here’s your quick checklist

• Build on rails, not around them: Design for UPI, AA, and consented data access from day one; regulators increasingly reward interoperability. The Statesman

• Solve for trust: Privacy-by-design, auditable AI models, and strong fraud controls will be deciding factors in partnerships with banks and governments. (Theme reinforced across GFF’s agenda.) Global Fintech Fest

• Think corridor-first: Remittances, SME trade finance, and cross-border credit scoring are ripening—especially if UK–India talks unlock smoother standards. AP News

---

Bottom line: Today’s shared stage at GFF underlines how fintech is now geopolitics-adjacent. India is pitching an inclusive, open-API future; the UK is hunting for growth and trusted digital identity. If the rhetoric converts to pilots and policy, expect faster innovation in payments, identity, and data-driven credit—on both sides of the corridor.