New Delhi: Prime Minister Narendra Modi arrived in Mumbai on Tuesday to address the Global Fintech Fest 2026, amid a security alert at the venue after police detained two men ahead of his visit. One allegedly posed as a Prime Minister’s Office official, while a gun was found with the other, according to reports. Police are investigating the matter and have said there is no established link between the incident and Modi’s visit.
At the fintech gathering, Modi highlighted India’s fintech journey and the success of the Unified Payments Interface (UPI), calling for broader global adoption.
He said fintech should now move beyond payments and expand into credit, insurance, savings, investments and pensions. He also called for greater use of Agentic AI, tokenisation and quantum technology to take financial services to the next level.
At the same time, Modi stressed the need for strong cybersecurity and ethical protection of data. He also called for a stronger FinTech Consumer Protection Index, while emphasising that greater innovation must go together with stronger consumer protection.
The seventh edition of the Global Fintech Fest is being held from September 8 to 11 in Mumbai. The event brings together policymakers, regulators, financial institutions, fintech companies, technology firms and investors from India and abroad. This year’s theme focuses on Agentic AI, tokenisation, quantum technology and trusted and inclusive financial systems.
Rs 35,000-crore push in Gujarat
Before travelling to Mumbai, Modi was in Vadodara, where he inaugurated and laid the foundation stones for development projects worth more than Rs 35,000 crore.
A major highlight of the Gujarat visit was the completion of the Dedicated Freight Corridor, with Modi dedicating three final sections of the Western Dedicated Freight Corridor to the nation.
The three sections cover 326 route kilometres and were built at a cost of more than Rs 20,700 crore. With their completion, the entire Dedicated Freight Corridor network is now operational.
The government said the corridor will improve the movement of goods between industrial centres and ports, reduce logistics costs and ease pressure on the existing railway network.
Modi also laid the foundation stones for three railway projects and three highway projects in Gujarat. Other projects included the second phase of the Vadodara Urban Development Authority Ring Road, a 110 MW floating solar project at Kadana Dam, housing projects under the Pradhan Mantri Awas Yojana and a water-supply project for 11 villages in eastern Vadodara.
During his Gujarat programme, Modi also interacted with young people and spoke about the opportunities created by emerging technologies, particularly artificial intelligence.
His engagements in Gujarat and Mumbai brought together two key elements of the government’s economic agenda — physical infrastructure and digital transformation. While the freight corridor is aimed at making the movement of goods faster and more efficient, the fintech summit focused on technologies that could reshape financial services and expand access to them.
