Fintech solutions can help attain USD 7 trillion economic vision
Fintech sector can play a prominent role in the rapid advancement of MSMEs and the digital global economy as a whole. The 9th edition of the Global Economic Summit organised by WTC Mumbai and All India Association of Industries (AIAI) from August 8-10, 2024 will highlight this critical role of fintech.
The cutting-edge technologies such as Gen AI, blockchain, machine learning and Large Language Models and their use cases in fintech will be discussed and exhibited at the 3-day Summit. These digital technologies are transforming MSMEs’ access to a wide range of services such as secure and instant online payments, collateral-free supply chain credit, automating book-keeping practices, cash flow management, fraud detection, micro insurance, compliance management, asset management, logistics and supply chain management. Fintech solutions can promote entrepreneurship in the MSME sector and has the potential to generate employment to the tune of 30 million in the coming years. By facilitating entrepreneurship and MSME development, Fintech solutions can contribute to the goal of USD 7 trillion economy by 2030. Participate at the Summit and learn more about these solutions.
The Summit will foster strategic alliance between fintech companies and MSMEs who are the nation builders as they drive growth, innovation, contributing 30% to GDP, 45% to exports and generate 113 million jobs in the Indian economy.
Yet, these units face USD 240 billion or Rs. 19 lakh crore worth of credit shortage and they lack cost-effective solutions to engage in cross-border businesses. If we facilitate their foray into global market through integration of cutting-edge cross-border payment, currency settlement solutions, it will boost their contribution to
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