Odisha CM launches BharatNetra initiative, positions state as Global FinTech Hub

THEBUSINESSBYTES BUREAU

BHUBANESWAR, AUGUST 22, 2025

“The launch of the Integrated Global Financial Technology Capability Hub is a transformative initiative that will shape the future of finance in Odisha. It will help strengthen India’s global leadership in the digital economy,” said Mohan Charan Majhi, Chief Minister of Odisha, while unveiling the BharatNetra Initiative in Bhubaneswar on Friday.

The Government of Odisha, in collaboration with the Singapore-headquartered Global Finance & Technology Network (GFTN), launched the BharatNetra Initiative with the establishment of the Integrated Global Financial Technology Capability Hub (I-GFTCH). This marks a historic first for Odisha and positions Bhubaneswar as a rising nerve centre of India’s innovation ecosystem, aligning with the nation’s ambition to foster entrepreneurship, industry-ready skills, employment generation, inclusive finance, and next-generation innovation.

The Chief Minister noted that the hub is the result of a landmark partnership forged during the historic visit of the President of Singapore, Tharman Shanmugaratnam, to Odisha earlier this year. “It reflects our commitment to bring the best of the world to Odisha, and to take Odisha to the world. Our goal is to rank among the top five Indian states in per capita income. As we contribute to the Viksit Bharat 2047 mission, Odisha will play a central role in making India a global economic leader,” he said.

The BharatNetra Initiative is anchored on a globally integrated strategy designed to create world-class fintech capabilities and connect Odisha with leading innovation hubs across the globe. As part of this vision, Odisha will collaborate with the National University of Singapore–Asian Institute of Digital Finance (NUS-AIDF) and GFTN to launch the Certificate in FinTech & InsurTech (CFI), a five-month hybrid programme blending coursework, in-person sessions, projects, and internships. Over the next five years, the programme will train 7,000 students in technology, regulation, and business, creating a future-ready workforce in fintech and insurtech. The inaugural batch, beginning in September, has already attracted over 2,000 applicants from more than 50 colleges for just 375 seats.

Further strengthening Odisha’s global connectivity, Bhubaneswar will host the Black Swan Summit (BSS) India in early 2026, joining a worldwide network of frontier technology forums across Asia, Europe, and Africa. This event, convened by GFTN, will connect talent and startups from Odisha to global job pipelines, venture capital, and digital economy networks, positioning the state as an emerging hub for financial inclusion, digital transformation, and innovation-led growth.

To support entrepreneurship, a Centre of Excellence will be established under the Integrated Innovation Hub, serving as a launchpad for high-potential fintech and insurtech startups. Backed by GFTN’s global network, the Innovation Hub will provide incubation, mentorship, venture development, and market access, helping entrepreneurs achieve scale and global competitiveness. Alongside this, a nearshore capability hub will link Odisha’s skilled talent pool with national and international financial institutions, offering a platform for startups, corporates, and innovators to co-create solutions, accelerate product development, and build cross-border partnerships.

Speaking at the launch, Dharmendra Pradhan, Union Minister of Education, described BharatNetra as a nation-building mission. “By skilling and educating our youth and creating a globally connected FinTech and InsurTech hub here in Odisha, we are laying the foundation for Prime Minister Narendra Modi’s Vision Viksit Bharat by 2047. This initiative will ensure that Odisha’s students, from our villages to our cities, can not only open pathways for employment and entrepreneurship but also strengthen India’s leadership in financial inclusion and innovation. These efforts align with our mission to make Odisha a USD 500 billion economy by 2036 and to build India into a USD 300 trillion economy by 2047,” he said.

Global leaders echoed this sentiment. Sopnendu Mohanty, Group CEO of GFTN, said BharatNetra is a shining example of how a strategic vision between two countries can translate into transformative action. He emphasised that by connecting Odisha’s talent with world-class training, global markets, and a robust startup ecosystem, the initiative is building the state as a vital gateway in the global digital finance landscape.

Industry voices also welcomed the move. Dr. Tapan Singhel, MD and CEO of Bajaj Allianz General Insurance and Chairman of the General Insurance Council, said employability today is defined not by degrees alone but by adaptability in fast-changing industries. “BharatNetra is playing a pivotal role in bridging this gap by embedding real-world industry requirements into the learning journey. We are proud to partner in this effort to nurture a new generation of fintech and insurtech professionals who will help shape the future of our industry and the nation,” he said.