Maharashtra Minister Promises Red Carpet for MSMEs and Startups to Spur Fintech Hub Transformation

Maharashtra's Industries Minister Uday Samant pledged support for MSMEs and startups, as the state aims to transform Mumbai into a global fintech hub. Speaking at the 9th Global Economic Summit, he emphasized the role of fintech in revolutionizing financial services and boosting the economy, while also highlighting ongoing government initiatives and investments in the sector.

Maharashtra's Industries Minister Uday Samant has assured that the state will provide comprehensive support for MSMEs and startups, likening the treatment to that of ultra mega projects, in efforts to transform Mumbai into a global fintech hub.

Samant made this announcement while inaugurating the 9th Global Economic Summit on 'Fintech: Accelerating the Digital Revolution' organized by the World Trade Center Mumbai and the All India Association of Industries (AIAI). He stressed fintech's potential in supporting the financial services sector and aiding the economy.

Key government initiatives include the revival of sick industries, investment in innovation, and providing financial and incubation support to startups. The summit also highlighted the rapidly growing fintech ecosystem in Mumbai and the potential for collaboration between Indian and African fintech enterprises.

(With inputs from agencies.)