Speaking at the BSE event, Finance Minister Nirmala Sitharaman highlighted the importance of using technology in the market. She asserted that fintech companies are actively developing technological solutions, and markets should adopt these innovations for more efficient and user-friendly trading experiences. Sitharaman emphasized that BSE can play an important role in promoting high-tech corporate governance. Even among listed companies, BSE can engage with them to ensure investor confidence is maintained. She highlighted the significance of industries moving towards 4.0 and stressed the importance of India adopting a similar approach to develop the required software. Sitharaman also referenced a prediction from a McKinsey Global report, stating that Finance 4.0, a subset of the Fourth Industrial Revolution, will contribute over 6% to the growth of emerging market economies, amounting to approximately $3.7 trillion by 2025, through the adoption of fintech revolution in less than a year. Hence, India should embrace technologies such as blockchain, AI, and big data.
