<p>New Delhi: The Indian fintech industry is estimated to be around $110 billion in 2024 and its projected to reach about $420 billion by 2029, Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, National Payments Corporation of India, said.</p>.<p>The sector, he said, is expected to continue to grow due to factors like favourable policies of the government.</p>.<p>The government's push towards a digital economy, coupled with a young and tech-savvy population, is likely to propel the fintech sector to new heights, he added.</p>.Union Budget 2024 | Modi government to stick to prudent financial plan: Survey.<p>"As of 2024, Indian FinTech Industry is estimated to be around $110 billion and by 2029, it is projected to reach an impressive number of around 420 billion at a cumulative annual growth rate of 31 per cent," industry chamber Assocham said in a statement, quoting Choudhary.</p>.<p>It said the advent of the fintech ecosystem, driven by technology-linked innovation, has revolutionised traditional financial services and led to improvement in the efficiency of delivery of financial products and services.</p>
<p>New Delhi: The Indian fintech industry is estimated to be around $110 billion in 2024 and its projected to reach about $420 billion by 2029, Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, National Payments Corporation of India, said.</p>.<p>The sector, he said, is expected to continue to grow due to factors like favourable policies of the government.</p>.<p>The government's push towards a digital economy, coupled with a young and tech-savvy population, is likely to propel the fintech sector to new heights, he added.</p>.Union Budget 2024 | Modi government to stick to prudent financial plan: Survey.<p>"As of 2024, Indian FinTech Industry is estimated to be around $110 billion and by 2029, it is projected to reach an impressive number of around 420 billion at a cumulative annual growth rate of 31 per cent," industry chamber Assocham said in a statement, quoting Choudhary.</p>.<p>It said the advent of the fintech ecosystem, driven by technology-linked innovation, has revolutionised traditional financial services and led to improvement in the efficiency of delivery of financial products and services.</p>