India's FinTech Industry Valuation Estimated To Go Up To $150-160 Billion In Next Five Years

Capital Market 

Federation of Indian Chambers of Commerce & Industry (FICCI) and Boston Consulting Group (BCG) came up with 'India FinTech: A USD 100 Billion Opportunity' report. The report details the findings from the study that BCG and FICCI undertook to size the value-creation potential and identify imperatives for India's FinTech growth. Dilip Chenoy, Secretary General, FICCI stated that the FinTech industry in India has been growing at a fast clip. FinTech players are redefining the business models across different segments of financial services industry, helping improve service delivery and contributing to digital financial inclusion. India's dynamic FinTech industry has 2100+ FinTechs of which 67% have been set up over the last 5 years alone. The total valuation of the industry is estimated at USD 50-60 Bn. The industry's growth has been undeterred by the pandemic, as it has seen the emergence of 3 new Unicorns and 5 new Soonicorns (USD 500Mn+ valuation) since January 2020. The Fintech industry's strong growth is due to India's deep-rooted customer demand, diverse capital flows, strong tech talent and enabling policy frameworks. Over the next 5 years, India's FinTech industry is expected to continue its strong upward trajectory.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, March 15 2021. 11:49 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU