InFinity Forum

• Prime Minister Narendra Modi will inaugurate the InFinity Forum.
• InFinity Forum, a thought leadership Forum on FinTech.
• PM will inaugurate the InFinity Forum on December 3 via video-conferencing.

About

• The event is being hosted by the International Financial Services Centres Authority (IFSCA) under the aegis of the Government of India in collaboration with GIFT City and Bloomberg.
• South Africa and the U.K. are partner countries in the first edition of the forum.
• The forum will bring together the leading minds of the world in policy, business and technology.
• Forum will discuss and come up with actionable insight into how technology and innovation can be leveraged by the FinTech industry for inclusive growth and serving humanity at large.
• The forum will witness participation from over 70 countries.

Agenda and Sub Theme of the forum

• It will focus on the theme of ‘Beyond’, with various sub themes including FinTech beyond boundaries, with governments and businesses focussing beyond the geographical boundaries in the development of global stack to promote financial inclusiveness.
• FinTech beyond Finance, by having convergence with emerging areas such as SpaceTech, GreenTech and AgriTech to drive sustainable development.
• It will also include FinTech Beyond Next, with focus on how quantum computing could impact the nature of the Fintech industry in the future and promote new opportunities.

Key partners of the forum

• NITI Aayog, Invest India, FICCI and NASSCOM are some of the key partners of this year’s forum.
• Key speakers at the forum will include Finance Ministers of Malaysia and Indonesia, Mukesh Ambani, Masayoshi Son, Arvind Krishna and Uday Kotak among others.

International Financial Services Centres Authority

• The International Financial Services Centres Authority, headquartered at GIFT City, Gandhinagar in Gujarat.
• It has been established under the International Financial Services Centres Authority Act, 2019.
• IFSCs require a high degree of inter-regulatory coordination within the financial sector.
• It has been established as a unified regulator with a holistic vision in order to promote ease of doing business in IFSC and provide a world class regulatory environment.
• Main objective is to develop a strong global connection and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.
• It works as a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.

GIFT City

• GIFT City is a new Financial & Technology Gateway of India for the World.
• At present, the GIFT IFSC is the maiden international financial services centre in India.
• It is an emerging global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts.
• It is supported by state-of-the-art infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity.
• Companies from Financial Services, Technology and all other services sectors will be targeted as potential occupants within the city