Odisha to Launch India First Global FinTech Capability Hub in Bhubaneswar
Project Name: Integrated Global Financial Technology Capability Hub (I‑GFTCH)
Launch Date: August 21, 2025
Location: Bhubaneswar, Odisha
Partners: Government of Odisha, Global Finance & Technology Network (GFTN, Singapore), and National University of Singapore’s Asian Institute of Digital Finance (NUS‑AIDF)
A Milestone in FinTech Innovation
On August 21, 2025, Bhubaneswar will witness the inauguration of India’s first-ever global-scale FinTech capability hub. I‑GFTCH aims to build a global-standard ecosystem that blends upskilling, innovation, incubation, and collaboration, positioning Odisha as a prominent player in the FinTech and InsurTech sectors.
Vision & Economic Impact
- Job Creation: The hub will generate an estimated 2,000 direct jobs in areas such as FinTech operations, analytics, compliance, and skilling.
- Skill Development: A five-month hybrid FinTech & InsurTech certification program, administered by NUS‑AIDF, will upskill over 7,000 students in Odisha within five years.
- Economic Boost: The initiative is projected to create ₹299 crore in direct economic value, with an additional ₹898 crore in indirect impact through service exports, innovation-driven growth, and sectoral expansion.
Four Pillars of I‑GFTCH
- Global Learning
A professional FinTech & InsurTech certification program combining online modules, on-campus training in Bhubaneswar, internships, and projects. This program will begin in September 2025. - Global Innovation
The hub will house a Centre of Excellence offering incubation, mentorship, venture support, bootcamps, and market-readiness programs for startups and SMEs. - Global Mindshare
With plans to host Black Swan Summit (BSS) India in early 2026, Odisha will join a global dialogue on disruptive technologies such as AI, quantum computing, tokenisation, and digital infrastructure. - Global Capability Hub
Facilities for offshore/nearshore delivery centers for Indian and international financial institutions—designed to go beyond mere cost efficiencies by nurturing innovation through shared infrastructure.
Why Bhubaneswar?
- Strong Academic Ecosystem: Home to leading institutions like IIT Bhubaneswar, NISER, AIIMS, and Utkal University, ensuring a robust talent pipeline.
- Proactive Policy Framework: Odisha has signed strategic MoUs with GFTN during Singapore President Tharman Shanmugaratnam’s January 2025 visit, boosting collaboration across fintech, semiconductors, skills, and green industries.
- Political & Administrative Commitment: Government officials, including E&IT Minister Mukesh Mahaling and Principal Secretary Vishal Dev, reiterated Odisha’s resolve to make the state a fin‑tech and digital innovation hub aligned with broader growth missions through 2047.