The Minister of Railways addressed the Global Fintech Fest 2022 held at the Jio World Convention Centre in Mumbai.
Recognising Telecom as the very foundation of Digital India, Shri Ashwini Vaishnaw, Minister of Railways, Communications and Electronics & Information Technology, Government of India, summed up three core focal areas in fintech for the government. He informed that 3-4 legislations re duly taken into consideration by the industry cumulatively. This includes the new telecom bill, the Digital Personal Data Protection Bill and the IT Act of 2000. Creating an interactive framework where the government addresses industry concerns, he said, “Technological navigation has to be modulated such that the interests of end users are protected.”
Elaborating on his vision and the work being undertaken in building a robust digital infrastructure in rural India, he said, “We are investing close to $30 bn to ensure last-mile network accessibility for 4G and 5G in every village across the country. So far we have been able to reach out to over 1.5 lakh gram panchayats. We are now building a highway – creating a whole ecosystem of village entrepreneurs, channelizing the energies of youngsters to take good quality, high-speed data connectivity to every village in the country while making them a part of the growth journey. We have tested this model and approximately 80,000 new connections are now being facilitated every month.”
He also added, “While we are working in the tech space, we should not forget the change we are bringing in the common citizens’ life, in the life of the poorest of the poor, in the life of youth, our daughters, sisters and mothers. Whatever we do, we should keep every section of the society in mind.”
Shri Vaishnaw was joined by Shri Kris Gopalakrishnan, Chairman, GFF 2022 Advisory Board, Chairman, Axilor Ventures and Co-founder, Infosys and Shri G. Padmanabhan, Senior Consultant, AZB & Partners, Ex-ED – Reserve Bank of India and Ex-Chairman – Bank of India. Shri Padmanabhan also presented the vote of thanks to all the participants of GFF 2022 for making the event a resounding success. The fest was held from 20th to 22nd September 2022, at the Jio World Convention Centre in Mumbai.