Bhubaneswar is set to become home to India’s first-ever Integrated Global Financial Technology Capability Hub (I-GFTCH), a landmark initiative announced on Thursday, July 31, by the Odisha government and the Singapore-based Global Finance & Technology Network (GFTN).
The official launch is scheduled for August 21, 2025, marking a significant milestone for both the state and the nation.
The announcement in this regard was made at a function, attended by Health, Electronics & IT Minister Mukesh Mahaling and Higher Education Minister Suryabanshi Suraj, in Bhubaneswar.
“This marks the first time Odisha is launching a FinTech capability initiative of this scale and global integration. The I-GFTCH launch positions Bhubaneswar at the forefront of India’s evolving financial technology ecosystem and aligns with its national development objectives,” the state government and GFTN said in a joint release.
To achieve this, the Odisha government is implementing a comprehensive, globally integrated four-part strategy.
Global Learning
Odisha has forged a partnership with Asian Institute of Digital Finance (AIDF) at the National University of Singapore (NUS) and GFTN to provide a five-month hybrid FinTech and InsurTech certification program. The program aims to train over 7,000 students from all districts of Odisha, offering them pragmatic expertise and preparing them for the modern digital economy. The course – combining online modules, two weeks of on-campus sessions in Bhubaneswar, hands-on projects, and internship placements – is designed to be inclusive and employment-oriented. The initiative will be supported by the Skill Development Institute and the Union Education Ministry.
Global Mindshare
In the first quarter of 2026, Bhubaneswar will host the Black Swan Summit (BSS) India, a premier global forum that will bring together leading minds in technology, policy making, and investment to to explore paradigm shifts in tokenisation, AI, quantum computing, semiconductor breakthroughs, and digital infrastructure. Hosting this event, along with access to other GFTN forums in Zurich, Tokyo, Rwanda, and Singapore, will provide students, professionals and startups in Odisha with a direct access to global job opportunities and international networks and future-ready digital economy networks.
Global Innovation
A Centre of Excellence will be established in the state to drive digital transformation and advance pioneering solutions. This hub will accelerate innovation through a full stack of support for startups, offering incubation, mentorship, masterclasses, bootcamps, market readiness programs, and venture development, leveraging GFTN’s expertise to foster a robust FinTech ecosystem.
Financial Technology Global Capability Hub
Odisha is planning to develop an offshore or nearshore hub for GFTN’s partner financial institutions. These centres will utilise the talent pool from the I-GFTCH Global Learning program and will function as dynamic nodes for business growth and collaboration among startups, corporates, and innovators via shared workspaces and integrated resources.
“This multi-pronged approach underscores Odisha’s commitment to building an internationally competitive, innovation-led and inclusive Financial Technology landscape,” the release said.
The I-GFTCH initiative, under the leadership of Odisha’s Chief Minister Mohan Charan Majhi and supported by the Department of Electronics & IT and the Department of Higher Education, will begin with the roll-out of its first pillar – Global Learning – in September 2025.
The NUS-AIDF Certificate in FinTech & InsurTech (CFI) programme under the Global Learning pillar is supported by the Skill Development Institute, Bhubaneswar as a designated Centre of Excellence with a view toward future national accreditation, in consultation with the Indian Union Ministry of Education.
“By combining local potential with world-class institutions like NUS-AIDF, we are investing in the youth of Odisha to thrive in the $1.8 trillion global digital economy,” said Dr Mukesh Mahaling, State Minister for Electronics & IT.
“This partnership places Odisha on the global map of digital skilling,” said Suryabanshi Suraj, state minister of Higher Education.
“It’s remarkable to see how swiftly the leadership of Odisha has executed the Financial Technology partnership with Singapore – from an MoU signed during the 17 – 18 January 2025 State Visit of His Excellency Mr. Tharman Shanmugaratnam, President of Singapore – into tangible, forward-looking action,” said Sopnendu Mohanty, Group CEO of GFTN and former Chief FinTech Officer at the Monetary Authority of Singapore.
“Odisha’s bold 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,” said Mohanty.
