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Digital Economy In India: ‘BharatNetra’ Fintech Hub Launched In Bhubaneswar To Boost Financial Tech
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Odisha will play a central role in making India a global economic leader, says Chief Minister Mohan Charan Majhi.
The hub has been launched by the Odisha government in collaboration with GFTN, National University of Singapore, and the Asian Institute of Digital Finance.
Odisha Chief Minister Mohan Charan Majhi has launched an Integrated Global Financial Technology Capability Hub, called the BharatNetra Initiative, in Bhubaneswar. Describing it as a transformative step that will shape the future of finance in Odisha, Majhi said it would strengthen India’s global leadership in the digital economy.
“Odisha will play a central role in making India a global economic leader,” he added.
The hub has been launched by the Odisha government in collaboration with Global Finance & Technology Network Singapore (GFTN), the National University of Singapore, and the Asian Institute of Digital Finance, according to an official statement.
Union Education Minister Dharmendra Pradhan, Odisha Electronics & IT Minister Mukesh Mahaling, and Global Finance & Technology Network (GFTN) CEO Sopnendu Mohanty were also present at the event.
Speaking on the occasion, Majhi said the initiative would skill more than 7,000 students across all 30 districts of Odisha. It will run certification programmes designed by the Asian Institute of Digital Finance at the National University of Singapore.
The chief minister said the collaboration had been forged during the historic visit of Singapore President Tharman Shanmugaratnam to Odisha in January this year.
Majhi added that the state would nurture start-ups and entrepreneurs by establishing a dedicated Centre of Excellence within the hub. In addition, the project will also establish a Global Capability Centre (GCC), which will act as a strong foundation for attracting global financial institutions and new investments into Odisha.
Highlighting efforts to improve digital infrastructure, Majhi announced that a cable landing station connecting Bhubaneswar to Singapore is being established.
Noting that Odisha is the first state to formulate an AI Policy, he said preparations are underway to launch a dedicated FinTech Policy and GCC Policy to attract global investments.
The CM further said that the initiative is aligned with the vision of the Prime Minister, who during his Independence Day speech this year had envisioned skilling three crore youth with an investment of ₹1 lakh crore. “Odisha is ready to contribute to this grand vision,” he remarked.
Underscoring the state’s talent pool, he said Odisha produces around 1.8 lakh graduates annually in engineering, polytechnics, and IT streams, along with skilled youth from 950 ITIs.
Emphasising the importance of research, Majhi noted that 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’,” he underlined.
He also thanked the Prime Minister for central government approval of two semiconductor fabrication units in Odisha. “Semiconductors are the building blocks of the digital economy, and Odisha is proud to play a leadership role in this national mission,” he said.
On the occasion, Majhi launched the BharatNetra Hackathon website, and a GCC+ overall programme was also announced.
Union Education Minister Dharmendra Pradhan said Odisha’s vision aligns with India’s national priority of skilling 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.
Odisha Minister for Electronics & IT, Dr Mukesh Mahaling, said the state is emerging as India’s innovation frontier, outpacing national growth and securing over $23 billion in new investments this year. “With progressive IT and AI policies, we are creating an ecosystem where advanced infrastructure, world-class talent, and start-up energy converge,” 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. This partnership with GFTN will empower talent, foster innovation, and connect Odisha to the world’s most dynamic financial ecosystems.”
It may be noted 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, the initiative will equip 7,000 students across the state with critical skills in technology, regulation, and business for careers in financial technology.
The programme has already selected its first batch of 375 students from more than 3,800 applicants representing over 60 colleges across all districts of Odisha. The first batch is set to graduate by January 2026.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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The UK must not “cut ourselves off” from trade opportunities in China despite security and business risks, the head of the Confederation for British Industry has warned.
CBI chief Rain Newton-Smith highlighted that British businesses see increased trade with Chinese firms as an opportunity to drive growth.
Her remarks came as business leaders were questioned by MPs on Parliament’s Business and Trade Select Committee regarding the UK’s economic relationship with China.
Last December, Prime Minister Sir Keir Starmer admitted China poses security threats to the UK but urged for greater business ties.
Ms Newton-Smith, chief executive of one of the UK’s largest business groups, was positive about the Government’s engagement with China.
“You can’t have a growth strategy without a strategy for China,” she said.
“China has the biggest contribution to global growth, is the third largest trading partner, and the world’s largest consumer market.
“The UK is second largest exporter of trade and services.
“We are mindful as all businesses are of security risks but it is really important that we have a strategy towards China.
“This Government has increased the economic engagement with China and including business within this does help us as a country.”
She added: “If we think about the future economy, there is a huge market in China and I think we mustn’t cut ourselves off from some of the opportunities there, even if in some areas there are difficult conversations and negotiations that need to be had.”
Peter Burnett, chief executive of the China-Britain Business Council, told the committee: “There are risks associated with technology advancement, AI, industrial development that they need to assess.
“Increasingly you will find them saying that they need to engage more in China to understand those risks and to develop some of the technologies along some of those risks themselves.”
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