Odisha Launches Fintech Capability Hub

Bhubaneswar, Aug 22 (PTI) Odisha Chief Minister Mohan Charan Majhi on Friday launched an Integrated Global Financial Technology Capability Hub (I-GFTCH), called ‘BharatNetra initiative', here that aims to link India to the Asia Pacific Innovation Corridor.

Majhi launched the initiative in presence of Union Education Minister Dharmendra Pradhan, Odisha Electronics & IT Minister Mukesh Mahaling and GFTN CEO Sopnendu Mohanty and others.

Terming it a transformative initiative that will shape the future of finance in Odisha, Majhi said it will strengthen India's global leadership in the digital economy.

Odisha will play a central role in making India a global economic leader, the chief minister said.

This hub has been launched by Odisha government in collaboration with Global Finance & Technology Network Singapore (GFTN), National University of Singapore and Asian Institute of Digital Finance.

Under the initiative, Majhi said that over 7,000 students from across all 30 districts of the state will get skill training, and it will run certification programmes designed by the Asian Institute of Digital Finance at the National University of Singapore.

He said that this initiative was an outcome of the historic visit of Singapore President Tharman Shanmugaratnam to Odisha in January this year.

“The state will nurture startups and entrepreneurs by establishing a dedicated Centre of Excellence within this Hub,” he said, adding that the project will also establish a Global Capability Centre (GCC).

Stating that Odisha will soon formulate a GCC policy, the chief minister said this will act as a strong foundation for attracting global financial institutions and new investments to the state.

“A cable landing station connecting Bhubaneswar to Singapore is being established,” he said, adding that this would help improve the state's digital infrastructure.

Majhi said that Odisha is the first state to formulate an AI Policy and the state is also in the process of launching a dedicated FinTech Policy and GCC Policy as well to attract global investments.

The CM said that Odisha is building one of the strongest talent pipelines in India as the state produces about 1.8 lakh graduates annually in various engineering, polytechnics, and IT streams, and skilled youths in 950 ITIs.

He said in addition to skilling, Odisha has established a Deep Neural Network Laboratory and other Centres of Excellence.

“Our vision is to make Odisha the Research Capital of the East,” the chief minister underlined.

On the occasion, Majhi thanked Prime Minister Narendra Modi for the central government's approval for two semiconductor fabrication units in Odisha.

He said semiconductors are the building blocks of the digital economy and Odisha is proud to play a leadership role in this national mission.

On the ocaasion, the CM launched BharatNetra Hackathon Website and a GCC + overall programme was also announced.

Pradhan said that Odisha's vision aligns with India's national priority to skill the state's youth for the global digital economy.

The BharatNetra initiative will not only open pathways for employment and entrepreneurship but also strengthen India's leadership in financial inclusion and innovation, he added.

GFTN Group CEO Sopnendu Mohanty said the BharatNetra Initiative and the Integrated Global Financial Technology Capability Hub will redefine Odisha's role as India's strategic gateway to the Asia-Pacific financial technology corridor.

Odisha IT Minister Mukesh Mahanling said that the I-GFTCH in Odisha will focus on four pillars- Global Learning, Global Mindshare, Global Innovation, and Global Capability Hub - developed in partnership with Singapore based GFTN.

Over the next five years, this initiative will equip 7,000 students statewide with vital skills in technology, regulation, and business for careers in financial technology, Mahaling said.