2025印度金融科技公共市场报告
Table OfContents 3India’s Listed Fintechs: The Public MarketLandscape 1India’s Digital & Startup Economy Tracking Performance Of Listed FintechsListed Fintech Index vs NIFTYSectoral Comparison: Ecommerce vsFintech vs Tech Peers 2India’s Fintech Landscape India’s Fintech Evolution JourneyGlobal Fintech Ecosystem ComparisonFintech Funding TrendsIndia’s Fintech Industry Eyes $250 BnRevenue By 2030Fintech In India’s BFSI Value ChainThe Rise Of Credit-Led ConsumptionInsurance Adoption: The Digital OpportunityDiscount Broking & Retail Investor GrowthFinancial Services Outlook: India VsChina Vs USASWOT Analysis Company Deep Dives Paytm (One97 Communications)PB Fintech (Policybazaar)Digit InsuranceZaggleMobikwik 5Upcoming IPOs From Indian FintechStartup Ecosystem 6Analyst Commentary & Recommendations 7Methodology India’s Internet Boom: 1.2 Bn+ Users By 2030 The State Of Indian Startup Economy Third-Largest $165 Bn+ India To Remain The World’s Fastest-Growing Economy In 2026 India is expected to remain the fastest-growing economy among the top five economies next year in terms ofannual real GDP growth India Outperforms China In Stock Market Returns Since mid-2021, Indian equities have delivered stronger daily returns than Chinese markets, reflectingsustained investor confidence and economic momentum Indian Stock Market Volatility Eases As GlobalUncertainty Recedes The Indian Volatility Index (VIX) shows reduced short-term market volatility, with values staying below 20,indicating stability amid easing macro headwinds India’s Fintech Landscape India’s Fintech Landscape India's Fintech Evolution Journey India’s fintech story has evolved from payments to full-stack financial ecosystems, and each regulatory shift— UPI, Account Aggregator, and Digital Lending Guidelines — has unlocked new business models 2018 2022 A Major StepToward India’sDigital Sovereignty InFinancial Data Round The ClockLarge Payments 2022 Digital Rupee(CBDC Pilot)Blockchain PoweredDigital Rupee Piloted 2017 2025 2021 Third Largest FintechStartup Ecosystem InThe World (As per countof unicorns)$32 Bn+ Raised | 24 Unicorns |Combined Valuation $80 Bn+ Account AggregatorFramework Formed TheBackbone Of OpenFinance Ecosystem Global Fintech Startup Ecosystem Comparison India’s Fintech Startups Surpass $32 Bn In Investments Indian Fintech Funding Shifts: From Banking To Lending Tech Lending tech accounted for 37% of total fintech funding between 2020 and Q3 2025, compared with 27% during 2014–2019. Between 2014 and 2019 period, the banking sector dominated with 57% of total investments. Lending is expected to generate more than 53% of India’s fintech revenue by 2030, contributing $133 Bn within a $250 Bn market. India's Fintech Industry Eyes $250 Bn Revenue By 2030, WithLending Tech Set To Capture More Than Half In 2025, digital lending is estimated tocontribute around 40% of India’s totalfintech revenue. By 2030, this share isprojectedto exceed 53%,with thesegment expected to surpass $133 Bnwithin an overall fintech market of $250Bn. Akey driver of this growth is theintegration of artificial intelligence (AI)across lending operations. AI-led creditassessment, risk management, and loandisbursementprocesses are reducingdefaults,speeding up approvals,andenablingmore personalised financialproducts. Industryprojections indicate that AIadoption in digital lending could unlocksignificant incremental value, potentiallyadding billions of dollars to India’s fintechecosystem while strengthening its globalcompetitiveness. Value Chain: Where Fintech Fits In India’s Broader BFSILandscape Unified Payments Interface (UPI) Is World’s No.1 Real TimePayment System India'sUPI handles more than 640 Mntransactions each day in real-time, establishingit as the largest real-time payment settlementsystem globally. This statistic highlights theoutstandingdigital-firstpublicpaymentinfrastructure developed by the government inIndia since the introduction of UPI in 2016. The Unified Payments Interface (UPI) is gainingtractionamong merchants across India.Currently, more than 65 Mn merchants utiliseUPI. Furthermore, the compound annual growthrate (CAGR) for the total number of UPI QRcodes outstanding from fiscal years 2022 to2025 is projected to be 56% greater than thegrowth rates for debit and credit cards in India.The implementation of zero Merchant DiscountRate (MDR) fees by the Indian government,along with a reduced cost of adoption, hassignificantly driven the expansion of UPI amongmerchants in the nation. India's UPI has gone global, earning praise fromworldleaders including French PresidentMacron,EU Commission President von derLeyen, and Germany's Volker Wissing. The IMFhails it as a global model for digital payments,with potential adoption expanding to France,Japan, Singapore, and Qatar. The Rise Of Credit Culture: How India’s Consumer SpendingLandscape Is Evolving Oncerecognisedasaprimarilysavings-drivenconsumption economy,Indi
