Grad students anticipate India turning into global fintech hub

Sixty-three per cent of students believe that India is ready to become the global hub for fintech, according to an online survey of Indian MBA and engineering students carried out by technology solutions provider Indus Valley Partners. The survey had over 6,500 respondents with a majority from the student community from leading engineering and management colleges. Twenty per cent respondents do not feel that India is ready and 17 per cent were unsure about India being ready to embrace the fintech revolution.

“India offers the highest expected return on investment on fintech, projected at 29 per cent versus a global average of 20 per cent, according to a recent PwC report. There will also be rapid increase in the adoption of emerging technologies in the financial services industry. Interestingly, the student community also feels the same as suggested by our survey. Many financial institutions are already shaking hands with enablers and collaborators from fintech society to come up with innovative solutions,” said Gurvinder Singh, chief executive officer, Indus Valley Partners.

India has the highest youth population, with availability of right skill set and technical expertise at right price, and government programmes that make it easy for emerging organisations to adapt to technical evolutions. With a millennialheavy and techno-friendly demographic, India could potentially become a strong influencer in fintech revolution.