In a significant development in India’s digital economy this week, the Government of Odisha and Singapore’s Global Finance & Technology Network (GFTN) launched the BharatNetra Initiative and the Integrated Global Financial Technology Capability Hub (I-GFTCH) in Bhubaneswar.
This initiative places the city firmly on the map as a rising global centre for FinTech and InsurTech innovation, marking Odisha’s first integrated financial technology capability project of such scale and international reach.
A key element is the training of over 7,000 students in FinTech and InsurTech over the next five years, through a hybrid certificate programme developed with the National University of Singapore’s Asian Institute of Digital Finance.
The five-month course combines online learning with in-person modules in Bhubaneswar, alongside projects and internships, and has already attracted 2,000 applicants from more than 50 colleges for the initial 375 seats starting this September.
Union Minister Dharmendra Pradhan highlighted BharatNetra’s role in connecting education with industry needs, emphasising how it creates pathways for entrepreneurship and employment throughout Odisha. He said, For India’s youth, employability is no longer just about degrees, it is about readiness to thrive in fast-changing industries.
Alongside talent development, the initiative is expected to create around 2,000 direct jobs, with further opportunities arising as Odisha builds out its FinTech ecosystem.
The economic impact is estimated to be substantial. Over five years, the programme is projected to add ₹299 crore in direct value to the state’s economy, with an indirect effect amounting to ₹898 crore—roughly $102 million.
These figures represent a meaningful boost as Odisha accelerates its shift towards a technology-driven digital services economy, aiming for the financial services sector to contribute nearly half of the gross state value added by 2047.
Chief Minister Mohan Charan Majhi emphasised the initiative’s wider significance, saying, This is a transformative initiative for Odisha that will strengthen India’s global leadership in the digital economy.
Majhi said, Our partnership with GFTN and Singapore’s NUS-AIDF reflects a commitment to bring the best of the world to Odisha and take Odisha to the world. Our goal is to rank among the top five Indian states in per capita income. And, as we contribute to the Viksit Bharat 2047 mission, Odisha will play a central role in making India a global economic leader.
Sopnendu Mohanty, GFTN’s Group CEO, described the collaboration as a shining example
of strategic partnership. He pointed to Odisha’s bold vision coming to life through world-class training and a cutting-edge capability hub which opens up global opportunities for its talent and builds a future-ready digital economy.
To bolster this vision, the initiative includes a Centre of Excellence for incubating promising startups and a Global Capability Centre designed to foster collaboration among financial institutions, startups, and innovators.
Early next year, Bhubaneswar will also host the India edition of the Black Swan Summit, a leading global forum for frontier technology, thereby extending its footprint on the international stage.
Bhubaneswar’s transformation reflects a broader narrative of regional innovation hubs rising through international collaboration, investment in skills development, and technology-led inclusive growth. It is clear that this city is fast becoming a vital node in the global digital finance ecosystem.
