THE YEAR WAS 1991, India found itself teetering on the edge of a perilous economic precipice. Yet, from this crisis emerged the New Economic Policy. Led by then Finance Minister Manmohan Singh, India embraced the pillars of liberalisation, privatisation, and globalisation. Industrial licensing and trade restrictions were abolished, empowering industries to diversify and flourish. Public sector undertakings were privatised, freeing them from political interference. Tariffs were reduced, inviting global trade and investment. The reforms unleashed unprecedented growth, with sectors like aviation and telecom thriving. The License Raj crumbled, giving birth to a vibrant business ecosystem.
As the echoes of the transformative reforms of 1991 reverberated through the years, a new wave of revolution now sweeps across India, heralding a promise to democratise finance for every citizen. At the forefront of this movement are the dynamic fintech companies, leading the charge towards a more inclusive and accessible financial landscape in 2023 and beyond.
Global Scope, India Focus
A recent report by BCG and QED Investors projects remarkable growth for the global fintech industry, anticipating a six-fold increase in revenues from $245 billion to $1.5 trillion by 2030. The sector is expected to capture up to 7 per cent of global financial services revenue, with banking fintechs comprising a quarter of all banking valuations worldwide.
هذه القصة مأخوذة من طبعة 29 July 2023 من Businessworld India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة 29 July 2023 من Businessworld India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
