India’s monetary expertise corporations are poised to grow to be thrice as precious within the subsequent 5 years, reaching a valuation of $150-160 billion by 2025, in line with a report.
The report unveiled on Saturday particulars the findings from the research that Boston Consulting Group (BCG) and FICCI undertook to dimension the value-creation potential and establish imperatives for India’s FinTech development.
“India is strongly poised to grasp a FinTech sector valuation of $150-160 billion by 2025, translating to an incremental value-creation potential of roughly $100 billion. It’s estimated that to fulfill this ambition, India’s FinTech sector will want investments of $20-25 billion over the subsequent 5 years,” says the report.
India’s dynamic FinTech trade has over 2,100 FinTechs of which 67% have been arrange during the last 5 years alone. The whole valuation of the trade is estimated at $50-60 billion.
The trade’s development has been undeterred by the pandemic, because it has seen the emergence of three new Unicorns and 5 new Soonicorns ($500 mn valuation) since January 2020.
Prateek Roongta, Managing Director and Companion, Boston Consulting Group India stated, “We consider India’s FinTechs are on the precipice of great value-creation of $100 billion over the subsequent 5 years. To actualise this potential, the trade would require investments to the tune of $20-25 billion until 2025. Consequently, the variety of Indian FinTech Unicorns will greater than double over the subsequent few years.”
This story has been printed from a wire company feed with out modifications to the textual content. Solely the headline has been modified.