Odisha and GFTN Collaborate to Boost Financial Tech Hub Growth

BharatNetra Initiative: A Leap Towards Global FinTech Potential

The Government of Odisha has embarked on a groundbreaking journey with the launch of the BharatNetra Initiative, in collaboration with the Global Finance & Technology Network (GFTN). This project introduces the Integrated Global Financial Technology Capability Hub (I-GFTCH) in Bhubaneswar, which is set to make waves in the fintech landscape, not just locally but on a global scale.

Strategic Vision for Odisha's FinTech Ambition

The BharatNetra Initiative aims to establish Odisha as a center for financial technology, paving the way for innovative solutions and growth. This initiative encompasses a robust four-pillar strategy intended to build world-class fintech capabilities and enhance connectivity across India and beyond.

Empowering the Next Generation of Financial Leaders

As part of the I-GFTCH, the state is collaborating with the National University of Singapore and GFTN to offer a new Certificate in FinTech & InsurTech (CFI). This five-month hybrid program is designed to equip 7,000 students over the next five years with the necessary skills and knowledge to thrive in the evolving digital finance landscape. The initiative emphasizes the importance of practical learning, encompassing coursework, hands-on projects, and internships, which has attracted over 2,000 applicants from various colleges for its inaugural cohort.

Connecting Businesses and Innovators

Bhubaneswar is poised to host the Black Swan Summit (BSS) in the near future, forming part of a global network that includes technology forums across different continents. This summit will serve as a pivotal platform for startups and established companies to connect with investors, paving the way for job opportunities and collaborative ventures. The event aims to highlight Odisha's rising prominence as a hub for financial inclusion and innovation.

A Hub for Innovation and Collaboration

A major component of the BharatNetra Initiative is the establishment of a Centre of Excellence, which will support high-potential startups in fintech and insurtech. This innovation hub aims to provide entrepreneurs with the resources necessary to scale their operations and enhance their competitive edge. By aligning local talent with the global marketplace, this initiative seeks to build a vibrant ecosystem for digital finance.

Uniting Global Expertise and Local Talent

The financial technology global capability hub will bridge connections between Odisha and major fintech ecosystems worldwide. This hub will serve as a collaborative space for startups, corporates, and innovators to work together, fostering an environment conducive to developing market-ready solutions and enabling cross-border partnerships.

Voices of Leadership

Shri Mohan Charan Majhi, the Hon'ble Chief Minister of Odisha, expressed the significance of the I-GFTCH in transforming the financial landscape. He emphasized the commitment to enhance Odisha's role in India’s economic aspirations, aiming to rank among the top five states in terms of per capita income. He highlighted that this initiative signals a commitment to elevate Odisha's stature on a global platform.

Shri Dharmendra Pradhan, Hon'ble Union Minister of Education, underscored the initiative's potential to empower youth, reinforcing the bridge between education and employability. He noted the effort to align educational programs with industry needs, thereby strengthening middle-income opportunities and fostering an inclusive economy.

Sopnendu Mohanty, Group CEO of GFTN, commented on the strategic collaboration between India and Singapore, reinforcing their commitment to nurturing a workforce ready to embrace the challenges of a dynamic financial landscape.

About GFTN and Its Objective

The Global Finance & Technology Network strives to create more efficient, resilient, and inclusive financial systems through innovative global collaboration. They focus on enhancing policies and developing digital ecosystems within the sector, supporting startups, and positioning themselves as a driving force in fostering financial technology innovations.

Frequently Asked Questions

What is the BharatNetra Initiative?

The BharatNetra Initiative is a program launched by the Government of Odisha in collaboration with GFTN, aiming to establish a global financial technology hub to boost innovation and economic growth.

How many students will be trained under the CFI program?

The CFI program aims to train 7,000 students over five years, focusing on the essential skills needed in the FinTech and InsurTech sectors.

What is the Black Swan Summit?

The Black Swan Summit is an upcoming global event hosted in Bhubaneswar that aims to connect startups and businesses with investors and market opportunities across various sectors.

What role will the Centre of Excellence play?

The Centre of Excellence will support startups in fintech and insurtech, providing resources like incubation, mentorship, and market access to help them grow and succeed on a global scale.

How does GFTN contribute to the initiative?

GFTN brings global expertise and networks to the BharatNetra Initiative, aiding in talent development and the establishment of a growing financial technology ecosystem in Odisha.

About The Author

Dominic Sanders here, a writer and financial specialist committed to helping my readers understand the world of finance. Having a strong financial background and a lot of experience, I concentrate on using my blog posts and articles to translate difficult financial subjects into understandable, doable advice. My goal in writing is to arm you with the information and skills need to make wise financial choices.

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