BHUBANESWAR: In a significant move poised to reshape Odisha’s digital economy, the state government on Thursday announced the launch of the Integrated Global Financial Technology Capability Hub (I-GFTCH) in the city.
Being set up in collaboration with Singapore-based Global Finance and Technology Network (GFTN) and the Asian Institute of Digital Finance (AIDF) at the National University of Singapore (NUS), this first-of-its-kind FinTech capability centre will make over 7,000 graduates job-ready with professional training in FinTech and InsurTech domains over the next five years.
Minister for Electronics and IT Mukesh Mahaling said that with I-GFTCH, Odisha not only enters the FinTech race but also aims to set the pace. “Apart from the direct value creation of ₹299 crore, an indirect economic impact is estimated at ₹898 crore over five years through the initiative by strengthening employment, service exports, and sector-wide innovation,” he said.
“Odisha’s financial services sector, now contributing around eight per cent to the state’s Gross State Value Added (GSVA), has been earmarked for rapid expansion under Vision Odisha 2036 and 2047. The state aims to boost the GSVA share to nearly 49 per cent by 2047 by focusing on advanced banking, insurance, payments, and emerging FinTech solutions,” he added.
As part of the initiative, I-GFTCH offers a future-proof FinTech and InsurTech professional certification programme to job aspirants, who will be selected through an online test. This five-month hybrid course includes online modules, two weeks of on-campus sessions in Bhubaneswar, hands-on projects, and internship placements. It has been designed for final-year undergraduate and postgraduate students seeking to build a career in the financial sector. They will receive certificates from NUS-AIDF upon completion of the course.
Minister for Higher Education Suryabanshi Suraj said this initiative places Odisha on the global map of digital skilling, aligning seamlessly with India’s broader technological aspirations. “We are committed to building a talent pipeline that can power India’s innovation economy, and certification is a powerful step forward,” he said.
The programme, commencing in September, adopts a hybrid learning format, with 60 per cent virtual lessons and 40 per cent in-person sessions. Selected students will be trained in AI, insurance, blockchain, governance, and finance. The programme is also expected to directly contribute to job creation, with 2,000 projected jobs linked to the capacity-building and talent development programme over five years.
Beyond training, the hub will also serve as a replicable model for other states for capability building. Complementing the learning and international forums, the I-GFTCH will house a Centre of Excellence to foster digital innovation and business acceleration. Designed as a launchpad for local start-ups and SMEs, the hub will provide end-to-end support including incubation and mentorship, boot camps and masterclasses, market readiness programmes, and venture development assistance.
Principal Secretary of Electronics and IT Vishal Kumar Dev said I-GFTCH will serve as the nerve centre of a globally integrated, multi-pronged strategy to drive inclusive growth, digital transformation, and international collaboration. “It will nurture financial technology and InsurTech start-ups and create a talent pool of professionals to help Odisha sustain its competitive edge in the digital economy,” he said.
Group CEO of GFTN and former Chief FinTech Officer at the Monetary Authority of Singapore Sopnendu Mohanty said Odisha’s vision to become a global FinTech innovation hub is coming to life through world-class certification programmes and a cutting-edge capability hub unlocking global opportunities for local talent and building a future-ready digital economy.
The government also announced that Odisha will host the India edition of the Black Swan Summit (BSS), a premier international event, in the first quarter of 2026 to explore disruptive innovations like tokenisation, AI, quantum computing, and digital infrastructure. Launched this year in Perth, Western Australia, the summit now anchors the Black Swan Network, GFTN’s flagship multi-location, global platform for collective foresight and international collaboration.
The state government had signed an MoU with GFTN and NUS-AIDF during the visit of Singapore President Tharman Shanmugaratnam in January. I-GFTCH will be inaugurated by Chief Minister Mohan Charan Majhi on August 21, following the selection of the first batch of students.