FM Sitharaman launches foreign currency settlement system at GIFT City

Business Oct 07, 2025

Finance Minister Nirmala Sitharaman just launched a new foreign currency settlement system at Gujarat's GIFT City.
This upgrade means transactions that used to take up to two days can now be processed much faster—putting GIFT City in an exclusive group of global hubs like Hong Kong and Tokyo.

India accounts for half of all digital payments globally

Speaking at the Global Fintech Festival, Sitharaman highlighted that India leads the world in digital transactions, making up half of all global digital payments with an impressive 87% adoption rate.
She also pointed out that fintech companies are helping financial services reach beyond big cities, but reminded everyone that technology should be used responsibly and not be weaponized.