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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.

Space & Spatial National Industry Group at the Australia India Chamber of Commerce

Financial Services (Fintech) National Industry Group Conveners

Sandeep Khurana

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Sandeep is Director of 3i Strategy and over the last 15 years. He has been a founder, CEO & Senior Leader, strategic advisor and corporate developer with a number of fintech and financial services businesses looking at cross border entry and scale with Australia, India and APAC. These businesses have ranged from banks and asset managers to global and startup platform technology providers, crypto exchanges and climate transition financiers. Sandeep has a special interest within the Australia-India growth corridor in tax technology and regtech. He also serves as Non-Executive Director on a number of boards as well as supporting the growth of the Australia India Chamber of Commerce National Industry Group for Financial Services (Fintech).

Jason Titman

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Jason Titman is an investor across a global portfolio, who often takes an active ‘fractional’ C-Level Executive or Board Advisory role in the companies in which he invests. Jason focuses on e-commerce, fintech and crypto companies growing at scale and entering international markets. He has a strong technology, transformational growth and governance focus. His Portfolio experience and career traverses’ startups and global corporations, with channel partnership and go to market experience in the US, Asia, India, EU and other markets. Jason Titman’s involvement with the Australia India Chamber of Commerce Financial Services (Fintech) National Industry Group comes off the back of his directorship with ASX listed Findi Limited (Findi), who own a bespoke payments business in India, which sees Jason travelling to India 4-5 times each year.