Odisha to launch India’s first global FinTech hub

By Vriti Gothi

In a move poised to redefine India’s financial technology landscape, the Government of Odisha has announced the launch of the Integrated Global Financial Technology Capability Hub (I-GFTCH) in Bhubaneswar on 21 August 2025.

This pioneering initiative marks the establishment of India’s first globally integrated FinTech capability centre, aimed at catalysing innovation, upskilling digital talent, and positioning Odisha as a premier destination for financial technology excellence.

The Hub will be inaugurated by Chief Minister Mohan Charan Majhi, reinforcing the state’s long-term vision to become a knowledge-driven, digitally empowered economy by 2047.

The I-GFTCH is being developed in collaboration with Singapore-based Global Finance & Technology Network (GFTN) and the Asian Institute of Digital Finance (AIDF) at the National University of Singapore. Envisioned as a comprehensive platform for FinTech research, training, and business acceleration, the Hub is designed to support advanced capability development in key areas, including artificial intelligence, digital finance, insurance technology, blockchain, and tokenisation.

Comprising three core pillars: a professional certification programme, a Centre of Excellence (CoE) for innovation, and a global FinTech ecosystem hub the initiative is set to become a cornerstone of India’s FinTech infrastructure.

A flagship feature of the initiative is the FinTech & InsurTech Certification Programme, a five-month hybrid learning course combining online instruction, on-campus immersion in Bhubaneswar, and hands-on internship opportunities. The programme is tailored for final-year undergraduate and postgraduate students across India and includes a rigorous selection process through an online entrance test.

Participants will be trained in advanced domains and will receive certification from the National University of Singapore. The initiative aims to skill over 7,000 students in five years, contributing significantly to India’s digital talent pool.

The Centre of Excellence within the Hub will act as a catalyst for early-stage innovation, offering structured support for start-ups and SMEs through mentorship, bootcamps, product development workshops, and market-readiness programmes. This ecosystem is designed to enable local entrepreneurs to scale rapidly while attracting national and international investment.

In addition, Odisha will host the India edition of the Black Swan Summit in early 2026, a global forum dedicated to emerging technologies such as quantum computing, digital identity, and programmable finance further reinforcing the state’s ambition to lead disruptive innovation in the sector.

The I-GFTCH is projected to create direct value of approximately ₹299 crore and a broader economic impact of $102 million over a five-year period. The initiative is expected to directly generate 2,000 skilled jobs, while accelerating Odisha’s transition from a traditional industrial economy to a high-value digital services hub.

This aligns with the state’s Vision Odisha 2036 and 2047, which targets a dramatic rise in the contribution of services to the Gross State Value Added (GSVA) from around 8% currently to nearly 50% by 2047.