Global Fintech Fest Risks Obscuring Talent Gap, Skill Shortage
By Manu Shrivastava
As Mumbai prepares to host the 6th edition of the Global Fintech Fest (GFF) 2025 from October 7 to 9 at the Jio World Convention Centre, India finds itself at a critical juncture: the glittering promise of its Digital Public Infrastructure (DPI) stack is poised against the stark realities of regulatory friction, a widening skills gap, and the persistent vulnerability of the end-user.
This is no mere industry convention; with an estimated $3 billion in potential deals and a confluence of 1,00,000 attendees, the GFF stands as the definitive global barometer for the maturity, and the equity, of India's digital finance project.
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| The celebratory tone must confront the fundamental demographic reality: over 190 million Indians remain unbanked (Source: GFF) |
The Fest's ambitions have transcended the merely technological. The presence of UK Prime Minister Keir Starmer, alongside his Indian counterpart Narendra Modi, underscores a significant diplomatic overlay.
This is a geopolitical overture showcasing the India-UK corridor's focus on areas like quantum computing and digital trade, raising the stakes: the GFF is now a platform for sovereign commitment, demanding measurable results beyond the official rhetoric of 'Digital India'.
The official narrative will rightly celebrate the scale of the fintech revolution, driven by the universally acclaimed UPI and the DPI framework. Yet, this celebratory tone must confront the fundamental demographic reality: over 190 million Indians remain unbanked.
The true test of the 'Fintech Kranti' lies not in the volume of transactions, but in translating transactional efficiency into durable financial inclusion and credit access for this colossal, underserved population.
The focus on cutting-edge sectors like Generative AI, while commercially potent, dangerously overlooks India’s foundational challenges.
The industry suffers from an alarming digital skill deficit, with reports indicating a shortfall of millions of professionals required in emerging tech fields like Cloud Computing and Cybersecurity.
The push for high-margin AI services risks remaining an elite, urban engagement, leaving vast sections of the workforce strategically unprepared.
Simultaneously, the regulatory environment is strained. The complexities introduced by the Digital Personal Data Protection (DPDP) Act, 2023, particularly regarding data localisation, significantly escalate compliance and operational costs for small and mid-tier fintechs. This compliance burden is a critical barrier to inclusive growth.
More immediately threatening is the endemic issue of digital fraud. The recent case of an infotech senior manager in Pune losing nearly ₹98 lakh to an online scam serves as a grim, real-time reminder: trust remains fragile.
Regulators must be watched for how they move from asserting jurisdiction, across SEBI, RBI, and IRDAI mandates, to creating cohesive, operational security and consumer protection frameworks that effectively counteract sophisticated cross-border financial crime.
One of the marquee product showcases is DigiTathya, a QR-plus authenticity platform aimed at combating counterfeits and opaque supply chains.
Its live demonstration is a crucial act, testing whether the GFF is merely a stage for technological hype or a launchpad for scaling real-world, tangible solutions that address market integrity.
As the curtain rises, the core tension will be evident:
Will the lofty pronouncements from global leaders translate into binding commitments on regulatory roadmaps and open-source mandates, or fade into mere high-level dialogue?
Will central bankers and financial watchdogs adopt an interventionist or hands-off approach? Their tone will set the immediate course for investor confidence and startup regulation.
Will the story of India's fintech be framed by the deep-pocketed organisers and political leadership, or will independent critics, consumer activists, and data-rights groups succeed in shifting the focus to digital equity and accountability?
The GFF 2025 will ultimately be judged not by the sheer magnitude of its participants or the dollar value of deals inked in its convention halls, but by the tangible roadmap it delivers to bridge the digital divide - ensuring the Fintech Kranti is a democratic reality that reaches the hinterlands, not just a tool to magnify the profits of the marquee names.
The world awaits substance, not merely spectacle.
