Digital finance is expected to add $950 billion and 21 million jobs in India by 2025. India’s fintech industry is estimated to be valued at over $200 billion by 2025 and digital payments could surpass $1 trillion by 2030.
There is boundless opportunity for Australian businesses to partner with India’s financial sector including in the general insurance and infrastructure segments as well as within niche markets that aren’t dominated by state ownership. Telecommunications, the high uptake of mobile phone use, digital payment systems and mutual funds are markets anticipated to escalate.
Major segments under Fintech include Payments, Digital Lending, InsurTech, WealthTech
– The Payments landscape in India is expected to reach $100 Tn in transaction volume and $50 Bn in terms of revenue by 2030
– India’s digital lending market was worth $270 Bn in 2022 and is expected to reach $350 Bn by 2023.
– India is the 2nd largest Insurtech market in Asia-Pacific and is expected to grow by ~15X to reach $88.4 Bn by 2030; India is poised to emerge as one of the fastest growing insurance markets in the world.
– The Indian WealthTech market is expected to grow to $237 Bn by 2030 on the back of a growing base of retail investors.
Financial Services (Fintech) National Industry Group Conveners
Rakesh Sinha brings over two decades of entrepreneurial and leadership experience in advisory, business services, process transformation, and technology. As the Founder and CEO of Quintes Global, he has pioneered transformative models like the differentiated GCC model – Dedicated Captive (D-Cap™), delivering EBITDA growth and business impact. His leadership has enabled the establishment of over 15 GCCs and driven more than $400 million in business transformation value. Recognized with numerous accolades, including “Asia’s Greatest Leaders” and “Most Promising Business Leader in Asia,” Rakesh co-founded SSF Global in 2011, a platform fostering GCC and BPM excellence. As the co-convenor at Australia India Chamber of Commerce Financial Services (Fintech) National Industry Group, Rakesh champions cross-border collaboration and innovation. A frequent speaker at global forums, he mentors young leaders and drives impactful social projects. With experience spanning startups to Fortune 500 companies across India, Asia, and the US, including several top-tier BFSI companies, Rakesh remains committed to shaping the future of global enterprise transformation.
Rakesh Sinha