Data for Development: MoSPI’s Strategic Collaboration with Fintechs at Global Fintech Fest 2025”
Context
The Global Fintech Fest (GFF) 2025, to be held from 7–9 October 2025 at Jio World Centre, Mumbai, represents one of the largest global platforms for digital finance, technology, and innovation.
The Ministry of Statistics and Programme Implementation (MoSPI)—the nodal agency for India’s official data ecosystem—is participating in this year’s fest, marking a significant step towards bridging the gap between official statistics and fintech-driven private data systems.
Objective of MoSPI’s Participation
MoSPI’s engagement at GFF 2025 aims to:
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Strengthen data partnerships between government and fintechs.
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Promote data transparency and accessibility through interactive public engagement.
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Integrate official statistics with private sector data to build real-time, policy-relevant insights.
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Highlight MoSPI’s role in a data-driven economy and its contribution to Digital India.
This initiative aligns with the Digital Public Infrastructure (DPI) framework and India’s National Data Governance Policy (NDGP), which promote “data as a public good.”
Key Features of MoSPI’s Participation
1. Thematic Stall at GFF
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Showcases major statistical indicators — GDP, CPI, labour market data, etc.
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Highlights transparency and innovation in India’s statistical system.
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Uses infographics, videos, and interactive displays to engage fintech leaders, policymakers, and students.
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Demonstrates data visualization and open-access tools like MOSPI dashboards and portals (e.g., MOSPI’s National Indicator Framework).
2. Panel Discussion — “Insight Fusion: Building the Future of Fintech with Survey & Industry Data” (7 Oct 2025)
Core idea: Blending official survey data (from sources like NSSO, PLFS, ASI, etc.) with industry-generated fintech data.
Relevance:
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National surveys provide macro-level, statistically representative data.
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Fintechs generate micro-level, real-time transactional data.
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The fusion of these datasets can:
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Strengthen financial inclusion mapping,
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Reveal enterprise behaviour and consumer spending patterns,
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Support dynamic policymaking in the BFSI sector.
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Analytical insight for UPSC:
→ This represents a move from “data collection” to “data integration”—a key component of evidence-based governance in the digital economy.
3. Fireside Chat — “Data as Public Good: Harnessing Official Data for Innovation and Growth” (8 Oct 2025)
Key theme: Treating data as a public good.
Why important:
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Public data can enable innovation in areas like credit scoring, micro-lending, and insurance tech.
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Ensures equitable access to information, fostering inclusive growth.
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Encourages data democratization—making government data accessible to all while ensuring privacy and security.
UPSC linkage:
→ Aligns with the vision of Digital India, Gati Shakti, and Open Government Data (OGD).
→ Resonates with the Economic Survey 2022–23 emphasis on “Data for Development”.
4. Closed Room Session — “Statistical Infrastructure for a Digital India” (8 Oct 2025)
Focus: Building a trusted data partnership between fintech companies, regulators, and MoSPI.
Discussion themes:
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Challenges:
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Data silos between private & public sectors.
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Need for real-time, granular, anonymized data flows.
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Concerns over privacy, interoperability, and data ethics.
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Opportunities:
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Co-creating data pipelines for policymaking.
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Leveraging AI/ML for official statistics.
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Improving economic mapping, especially in informal sectors.
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UPSC Insight:
→ This session connects to Digital Governance, Artificial Intelligence for Statistics, and the Data Empowerment and Protection Architecture (DEPA) model by NITI Aayog.
Broader Analytical Perspective
| Dimension | Impact / Significance |
|---|---|
| Policy Synergy | Aligns MoSPI with Fintech India Mission, NDGP, and Digital India. |
| Economic Insight | Enables faster, data-driven decisions for monetary policy, inflation tracking, and labour reforms. |
| Institutional Innovation | Modernises statistical infrastructure—core to Atmanirbhar Bharat in data governance. |
| Public-Private Collaboration | Builds trust between fintech innovators and government data custodians. |
| Global Relevance | Positions India as a leader in data governance models for developing economies. |
UPSC-Relevant Takeaways
For Prelims:
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MoSPI is the nodal ministry for the National Statistical Office (NSO) and Central Statistics Office (CSO).
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Global Fintech Fest (GFF) — India’s largest fintech gathering, supported by RBI, NPCI, and IFSCA.
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Concepts like “Data as a Public Good”, Digital Public Infrastructure (DPI), and Open Government Data (OGD) are directly relevant.
For Mains (GS Paper III — Economy & Technology):
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Data integration between government and industry strengthens evidence-based policymaking.
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Fintech collaboration aids financial inclusion, credit access, and MSME empowerment.
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Ethical use of data promotes transparency, accountability, and innovation — key governance values.
Conclusion
MoSPI’s participation in GFF 2025 marks a paradigm shift in India’s approach to official statistics—from static reporting to dynamic, real-time data collaboration. By engaging with the fintech ecosystem, the Ministry is not only bridging data gaps but also reimagining how official data can drive innovation, inclusion, and sustainable growth in the digital economy.
This initiative strengthens the idea of “Data for Development”, aligning India’s statistical vision with its broader goals of becoming a global digital and economic powerhouse.
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