BHUBANESWAR: In a significant move that may reshape Odisha’s digital economy, the state government on Thursday announced the launch of Integrated Global Financial Technology Capability Hub (I-GFTCH) in the city.
The government had signed an MoU with Singapore-based Global Finance and Technology Network (GFTN) and Asian Institute of Digital Finance at National University of Singapore (NUS-AIDF) during the visit of the country’s President Tharman Shanmugaratnam in January. The I-GFTCH will be inaugurated by Chief Minister Mohan Charan Majhi on August 21 after the selection of the first batch of students.
The first-of-its-kind FinTech capability centre will make over 7,000 graduates job-ready with professional training in FinTech and InsurTech domains in next five years.
Minister for Electronics and IT Mukesh Mahaling said with I-GFTCH, Odisha not only enters the FinTech race, it aims to set the pace. “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 pc by 2047 by focusing on advanced banking, insurance, payments and emerging FinTech solutions,” he said.
As part of the initiative, I-GFTCH will offer a future-proof FinTech and InsurTech professional certification programme to job aspirants to be selected through an online test. This five-month hybrid course with online modules, on-campus sessions and internship placements has been designed for final year undergraduate and postgraduate students seeking to build a career in the financial sector.
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. I-GFTCH will also house a Centre of Excellence (CoE) to foster digital innovation and business acceleration.
Designed as a launchpad for local startups and SMEs, the hub will provide end-to-end support, including incubation, mentorship, bootcamps, 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 startups and create a talent pool of professionals to help Odisha sustain its competitive edge in the digital economy,” he said.
Group CEO of GFTN 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 next year 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.