Prime Minister Narendra Modi on Friday expressed confidence in securing a historic fourth consecutive term in 2029, even as political commentators speculate about his waning influence after the Bharatiya Janata Party (BJP) fell short of a majority in the recent Lok Sabha elections.
Speaking at the Global Fintech Fest in Mumbai, Modi assured leaders from the fintech industry of his continued presence on the political stage. “This is the 5th edition of Global Fintech Fest. I will come in 10th edition also,” Modi said, hinting at his intent to lead the nation in the next decade.
Despite the BJP’s failure to achieve a standalone majority in the 2024 general elections, Modi appeared unfazed, projecting optimism about the party’s future. While the BJP had won majorities on its own in both the 2014 and 2019 elections, it now governs with support from other National Democratic Alliance (NDA) partners after not reaching the 272-MP mark in 2024.
The Prime Minister highlighted India’s impressive fintech growth over the past decade, noting that the industry has attracted over $31 billion in investments and seen a 500 percent increase in startups. Modi attributed this success to affordable mobile phones, low-cost data, and the expansion of financial inclusion initiatives like Jan Dhan accounts.
Hailing the country’s fintech innovations, Modi remarked, “Earlier, foreign guests visiting India were amazed by its cultural diversity. Now, they are amazed by its fintech diversity as well.” He emphasized the widespread impact of this revolution, visible from airports to street vendors.
In his address, Modi also took a jab at opposition leaders and critics who had previously doubted India’s potential to become a fintech hub. “When ‘Saraswati Maa,’ the goddess of knowledge, was imparting wisdom, some self-proclaimed experts were already casting doubts,” Modi quipped, reflecting on the skepticism he faced early in his political career.
The next general election is scheduled for April-May 2029, and Modi’s remarks have set the stage for what promises to be a closely watched political contest.
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