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India’s economy is mainly agricultural. The contribution is more than 50% of the economy. Some of the Indian agri-fintech companies, such as Jai Kisan, Unnati, Farmart, Hesa, etc., actually help farmers gain financial inclusion. Sidhharth Mehta IL&FS former director and CIO at Bay Capital,'s views on fintech are also relatable to this. Since Bay Capital has invested in Digital India, the digitalization of the primary sector is also essential in making the economy fully digital. Sidhharth Mehta IL&FS former director, has also expressed his views on the digitalization of the agricultural sector. He believes that for the overall progress of digitalization, making agriculture a digital one is crucial. Jai Kisan was founded by Arjun Ahluwalia and Adriel Maniego with the aim of providing a full stack of banking experience to rural farmers. They founded this in 2017. Agri-fintech companies will help expand the green economy and green finance. Fintech has the possibility of...

India is currently one of the most technologically advanced nations in the world, says Siddharth Mehta of Bay Capital , having digitized practically every facet of Indian life, including hospitality, healthcare, banking, and tourism, he added. We see a digitized economy where the internet, mobile devices, and other digital technologies have a favorable influence on economic patterns of trade, production, and consumption. Thanks to India's digital economy, business operations, citizen-government interactions, and other little and large economic elements are carried out appropriately.  The digitalization of India Economic advancements in India have ushered in a modern and futuristic period with a number of advantages. Greatest global consumer base for digital products. On the verge elaborating the support of Indian Government to digitalization and upgrading Indian economy, SiddharthMehta of Bay Capital says, the government's digital strategy for digitizing the Indian econo...

The astonishing growth of India’s economy in the 21st century is one of the great success stories of the Internet age. The nation has one of the largest digital subscriber bases and is the fastest growing market in the world, with well over half a billion Internet users. The government’s push towards online public service delivery has catalyzed this rapid digitization, aided by the private sector’s endeavor to make mobile devices and cheap data services available and accessible. Analysis shows that increasing digitization could enable India’s core Internet sectors to account for up to 10 percent of the country’s GDP by 2025, help farmers cut costs of growing crops by 15 to 20 percent, create great value in key economic sectors such as education, financial services, healthcare and logistics, ease public service delivery and even help streamline India’s fragmented job market. India’s new cybersecurity directions proposed by the Indian Computer Emergency Response Team, known as CERT-...

Amid the rising digitalisation, India’s digital payments market is expected to more than triple from $3 trillion to $10 trillion by 2026, according to a report by PhonePe and Boston Consulting Group. It indicates that India also has one of the fastest-growing fintech landscapes in the world, driven primarily by the advancement in digital payments segment. Reasons for Faster Digital Payments Growth Subhrangshu Kumar Neogi, co-founder and executive director of Escrowpay, said, “India’s digital payments landscape has experienced explosive growth in recent years, driven by a convergence of factors including a quickly growing middle class, government initiatives encouraging digital payments, and the widespread use of smartphones. The market is anticipated to continue growing and is expected to triple in size to reach $10 trillion by 2026." Growing Accessibility and Availability of Digital Payment Methods: He added that the growing accessibility and availability of digital...

Non-Banking Financial Companies ( NBFCs ) have been an integral part of India’s financial ecosystem. They are financial institutions that provide a wide range of banking services like loans, credit facilities, investments, and other financial products. NBFCs have played a significant role in the Indian economy’s growth story, especially in the rural and semi-urban areas. They cater to the financial needs of small and medium-sized businesses, entrepreneurs, farmers, and individuals who do not have access to traditional banking services. In this article, we will explore the future of NBFCs in India. One of the major factors that have contributed to the growth of NBFCs is the increasing demand for credit in the Indian economy. As per the RBI’s data, the credit growth of banks has been sluggish over the past few years. This has resulted in a credit gap that NBFCs have been able to fill. NBFCs have been able to cater to the financial needs of small and medium-sized enterprises...

The digital revolution is well underway in India, and the country is rapidly establishing itself as a major player in the digital economy, with the IT and digital industries at the forefront of enabling seamless digitalization. The industry has grown significantly as a result of the transition from legacy to new-age digitized processes. Over the years, the Indian IT industry has pushed its boundaries and accomplished incredible feats. It has grown at a CAGR of more than 15% from $196 billion to over $225 billion in FY22. If current growth rates continue, the IT industry will be worth approximately $394 billion by 2027. However, in order to achieve the goal of making India a $1 trillion digital economy, efforts must be significantly increased. The need of the hour is to invest in digital transformation and achieve a 25% CAGR, which will help India become a $687 billion IT powerhouse by 2027 and bring us closer to the goal of becoming a $1 trillion digital economy within this decade. Whi...

    Siddharth Mehta who is a founder and CIO of Bay Capital shares about the growth of digitalization in an Indian Economy. Read the full article at: https://www.bqprime.com/in-the-news/talking-point-with-bay-capital-s-siddhartha-mehta