Odisha IT partners with Singapore's Global Finance and Tech Network

The Government of Odisha's Electronics and IT Department has partnered with Singapore-based Global Finance and Technology Network (GFTN) to establish a Global Competency Centre in Bhubaneswar, focusing on InsureTech to promote financial inclusion. The agreement was inked when the President of Singapore, Tharman Shanmugaratnam, visited Odisha.

The accord supports the Indian vision of Insurance for All by 2047. Odisha Chief Minister Mohan Charan, Majhi focused on the rising status of Odisha in the India IT and FinTech map while aiming at nurturing innovation through start-ups, incubation centers, and academia-industry collaborations.

This hub would primarily focus on product development, skilling initiatives, and global partnerships. Some of the key projects are an advanced skilling center, a global sandbox for insurance innovation, and an ESG disclosure platform for MSMEs.

Sopnendu Mohanty, Group CEO Designate of GFTN highlighted the talent potential of Odisha and its role in advancing the digital economy. With strong policy incentives and inclusivity, Odisha aims to be a global leader in FinTech.

“GFTN’s partnership with the Government of Odisha to build a Global Competency Centre in InsureTech aligns with India’s Viksit Bharat 2047 vision which aims to deliver impactful financial inclusion and sustainable economic empowerment. By harnessing Odisha’s enormous talent and entrepreneurial potential, the Hub will accelerate the growth of the state’s digital economy", said Sopnendu Mohanty, Group CEO Designate of GFTN.

“Odisha is a state with immense potential, and the government is committed to transforming it into one of India’s preeminent FinTech Hubs. The state offers generous policy incentives and has the talent pool to succeed in the sector. With a focus on fostering innovation and promoting global collaborations, Odisha is building a robust ecosystem to support startups and drive technological advancements in the FinTech space", said Vishal Dev, Principal Secretary for Electronics & IT, Odisha government.