'For Us, AI Means All Inclusive': Indian PM Narendra Modi Champions Ethical Artificial Intelligence At Global Fintech Fest 2025

In a stirring address at the Global Fintech Fest 2025, Prime Minister Narendra Modi redefined artificial intelligence not as a tool for the elite, but as a force for universal empowerment, declaring, "For us, AI means ‘All Inclusive’." Speaking to a packed audience of global leaders, including UK Prime Minister Keir Starmer and RBI Governor Sanjay Malhotra, Modi outlined India's visionary approach to AI, emphasising equitable access, massive-scale skilling, and responsible deployment to ensure technology serves every citizen, from rural districts to urban innovators.

Modi's remarks came amid celebrations of deepening India-UK ties in fintech and digital innovation, where he highlighted AI's transformative potential in curbing fraud, enhancing underwriting, and exponentially growing financial services. "AI can curb underwriting virus, detect frauds, and grow other services exponentially," Modi said, underscoring the need for collective investment in data, skills, and governance to unlock this power. He stressed that India's AI mission prioritizes data privacy and people-centric frameworks, ensuring first-time digital finance users can trust the system without fear of fraud. "A user who is using digital finance for the first time, must be carefree and trust the process fully, without any worries for fraud," he added.

This vision aligns seamlessly with global calls for ethical AI, as Modi positioned India as a beacon for responsible innovation. Under the country's AI mission, efforts are underway to build high-performance computing capacity, establish Centers of Excellence, skilling hubs, and indigenous AI modules tailored to every district and language. "We are striving to provide AI’s benefit to every district and every language of this country," Modi noted, reinforcing India's longstanding support for a Global Framework for Ethical AI. He advocated sharing digital public infrastructure like MOSIP – a Modular Open Source Identity Platform now used by over 25 countries – not as aid, but as "digital empowerment."

Modi's emphasis on inclusivity found strong echoes from his counterparts. UK Prime Minister Keir Starmer, leading a record 126 British business delegation to Mumbai, praised the bilateral partnership's "huge ambition" in AI and fintech. "We have a competitive edge in tech, AI, advanced manufacturing, and fintech," Starmer said, announcing investments in digital infrastructure and AI innovation alongside new visa rules to attract global talent. He positioned the UK-India Comprehensive Economic Partnership as a "launchpad" for UK firms like Revolut to deepen ties, declaring, "We want UK to be your number one partner of choice for finance and fintech."

Echoing these sentiments, RBI Governor Sanjay Malhotra urged the fintech sector – now boasting nearly 10,000 entities in India – to harness AI for broader impact. "Artificial intelligence (AI) holds the potential to fundamentally enhance the next generation of Digital Public Infrastructure (DPI)," Malhotra stated, highlighting AI's role in personalized services, operational efficiency, and real-time fraud detection. He warned of rising digital frauds as a national challenge, adding, "Advanced technologies like AI and machine learning are crucial for real-time fraud detection and prevention." Malhotra called for "thinking global" through international partnerships, aligning with Modi's call for a fintech world where "innovations aim is not only growth but also goodness" and finance drives "human progress."

As Modi wrapped up, he envisioned a future where technology, people, and the planet converge, "We have to make a fintech world wherein technology, people, and planets benefit." With India's fintech ecosystem ranking among the top three most funded globally in the first half of 2025, Modi's "All Inclusive" AI mantra signals a bold step toward a resilient, sustainable digital economy – one that invites the world to join in shaping an ethical, future-ready financial order.

Published on: Thursday, October 09, 2025, 05:28 PM IST