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Indian fintech market to achieve $1 trillion AUM by 2030
August 10, 2022
At the same time, the industry was expected to generate a revenue of $200 billion – also a 10X jump from 2021’s $20 billion, according to a report.
The report titled “$1 trillion India fintech opportunity” jointly published by Chiratae Ventures and EY said payments, digital lending, wealth tech, insurtech, and neo-banking will all contribute to growth in the larger fintech space.
That growth will be helped by favourable demographics, growing technology adoption, higher disposable incomes and an aware customer, united payments interface (UPI), among other factors.
The digital lending market which is expected to grow to $515 billion in book size by 2030 will also further the momentum in the industry. Sectors like agritech and proptech weaved in with fintech were also considered to be big bets. The report mentioned that the new asset classes like crypto and non-fungible tokens (NFTs) will continue to attract investor interest.
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