FM Sitharaman Advocates Federated Tech Platform for Indian Ecosystem's Global Reach
Union Minister of Finance and Corporate Affairs Nirmala Sitharaman proposed the creation of a federated industry platform for India’s technology and financial technology ecosystem while addressing the valedictory session of the Global Fintech Fest 2026 in Mumbai. She stated that such a unified platform would provide the Indian technology sector with a credible, collective voice internationally, helping domestic firms and early-stage startups navigate complex overseas licensing, cybersecurity, and regulatory regimes.
Sitharaman highlighted that emerging technologies such as Artificial Intelligence, fintech, and digital public infrastructure are inherently borderless, whereas regulatory frameworks governing data, licensing, and taxation remain strictly national. Early-stage Indian tech startups often lack the resources to individually engage foreign regulators. A federated industry platform could engage overseas authorities early in policy discussions before regulatory barriers solidify, ensuring smooth global expansion for Indian enterprise solutions.
Addressing risk management in emerging financial technologies, the Finance Minister called for responsible adoption of frontier AI models and tokenised financial assets. She highlighted successful pilots under SEBI's regulatory sandbox—such as REC Limited’s tokenised bond settlement using the RBI's Central Bank Digital Currency (CBDC)—and urged the central bank to further strengthen the Digital Rupee infrastructure to handle instantaneous, multi-asset settlements securely.
