The Odisha Government’s Electronics and IT Department has partnered with Singapore-based Global Finance and Technology Network (GFTN) to set up a Global Competency Centre in Bhubaneswar, primarily focusing on InsureTech and financial inclusion.
The partnership, formalized during Singapore President Tharman Shanmugaratnam’s visit to Odisha, supports India’s vision of “Insurance for All” by 2047. Odisha Chief Minister Mohan Charan Majhi highlighted the state’s commitment to becoming a key player in India’s IT and FinTech sectors, emphasizing innovation through start-ups, incubation centres, and academia-industry collaboration.
The proposed FinTech hub will act as a platform for product development, advanced skilling initiatives, and fostering global partnerships. Key initiatives include creating a global sandbox for insurance innovation, developing ESG disclosure infrastructure for MSMEs, and advancing skilling programs in financial technology.
Sopnendu Mohanty, Group CEO Designate of GFTN, said, “GFTN’s partnership with the Government of Odisha to build a Global Competency Centre in InsureTech aligns with India’s Viksit Bharat 2047 vision which aims to deliver impactful financial inclusion and sustainable economic empowerment. By harnessing Odisha’s enormous talent and entrepreneurial potential, the Hub will accelerate the growth of the state’s digital economy.”
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Vishal Dev, principal secretary for electronics & IT, Odisha government, said, “Odisha is a state with immense potential, and the government is committed to transforming it into one of India’s preeminent FinTech Hubs. The state offers generous policy incentives and has the talent pool to succeed in the sector. With a focus on fostering innovation and promoting global collaborations, Odisha is building a robust ecosystem to support startups and drive technological advancements in the FinTech space.”
This collaboration underscores Odisha’s ambition to position itself as a global leader in financial technology, backed by strong policy frameworks and a vision for inclusivity and innovation.
