According to finance minister Nirmala Sitharaman, India’s digital economy is expected to witness exponential growth to $ 800 billion by 2030 on the back of rising internet penetration and increasing income.

At a recent virtual event, she noted that India has over 6,300 companies working in the fintech sector, of which 28 per cent are into investment technology, 27 per cent into payments, 16 per cent into lending and 9 per cent into banking infrastructure, while over 20 per cent are working in other fields.

The minister further added that the government has made it easier in terms of smooth and easy access to the stock markets, with technology such as e-KYC and e-Aadhaar helping the retail investors come into the market.