Odisha Launches Its First Global Fintech HUB in Bhubaneswar
On August 21, Odisha is set to become a key player in the global fintech landscape with the launch of its first Integrated Global Financial Technology Capacity Hub (I-GFTCH) in Bhubaneswar. This ambitious initiative aims to transform the state’s digital economy and talent ecosystem.
Collaboration with Global Institutions
The I-GFTCH is a collaborative effort between the Global Finance and Technology Network (GFTN) and the Asian Institute of Digital Finance at the National University of Singapore (NUS-AIDF). The hub is expected to play a crucial role in redefining how Odisha integrates fintech into its economic framework.
Leadership and Vision
Chief Minister Mohan Charan Maran will inaugurate the hub, which is envisioned as a cornerstone of Odisha’s long-term economic and technological roadmap, according to reports from the New Indian Express. This initiative is designed to align Odisha with international standards in fintech and assurance technology.
Training and Employment Opportunities
Over the next five years, the I-GFTCH plans to train more than 7,000 graduates in fintech and assurtech. The program aims to meet the growing demands of the global workforce, paving the way for high employment rates in emerging financial technologies.
Professional Certification Program
Scheduled to commence in September, the Professional Certification Program at I-GFTCH is tailored for undergraduate and third-year students. This five-month hybrid course will incorporate 60% online learning, two weeks of immersive training in Bhubaneswar, and an internship opportunity. Candidates will be shortlisted through an online test and will earn a prestigious NUS-AIDF certificate upon successful completion.
Curriculum and Skill Development
The program will cover critical areas such as artificial intelligence, blockchain technology, governance, insurance, and finance. Participants will engage in practical projects, contributing to an expected creation of around 2,000 direct employment opportunities over the next five years, facilitated by skill and employment development initiatives.
Center of Excellence and Economic Impact
In addition to training, the I-GFTCH will establish a Center of Excellence (COE) dedicated to digital innovation and business acceleration. The COE will offer support for startups and small to medium-sized enterprises (SMEs) through incubation, mentoring, boot camps, market readiness sessions, and comprehensive business development assistance.
Projected Economic Outcomes
With a projected direct value creation of ₹299 crores and an estimated indirect economic impact of ₹898 crores over five years, the I-GFTCH is poised to serve as a catalyst for enhancing service exports, job creation, and innovation within the sector. This initiative stands as a remarkable step for Odisha in establishing itself as a global fintech hub.