Modi exudes confidence of winning 4th consecutive term in 2029

PTI, MUMBAI, AUG 30, 2024 : Thumbing his nose at naysayers, Prime Minister Narendra Modi on Friday said he will return to power in 2029 for a record fourth consecutive term. With some political pundits claiming that he may have lost his shine with BJP not winning a majority on its own in the recently concluded Lok Sabha elections, Modi told a gathering of leaders from the fintech industry that he will be there at their 10th annual event in 2029 as well.

BJP had won a majority on its own in the 2014 and 2019 Lok Sabha elections, but in 2024 it did not get the required 272 MPs and the government is dependent on support from other NDA constituents. The next general elections are due in April-May 2029. "This is the 5th edition of Global Fintech Fest. I will come in the 10th edition also," Modi said in his address. The annual fest started in 2020 and the 10th edition will be held in 2029.

“I am confident that India's fintech ecosystem will enhance the ease of living of the entire world. Our best is yet to come... I met some of the startups here and entrusted them with 10 tasks as fintech is a very promising sector," the Prime Minister added. Hailing Bharat’s fintech innovation, Modi said: “Earlier foreign guests visiting India used to be amazed by its cultural diversity, now they are amazed by its fintech diversity as well.”

Modi said Bharat’s fintech revolution is widespread and one can witness it right from the moment one arrives at the airport to street food and shopping centres. In the last 10 years, the industry has received a record investment of more than USD 31 billion along with witnessing a startup growth of 500 percent, he said, asserting that affordable mobile phones, inexpensive data, and Jan Dhan Bank accounts starting with zero balance brought this revolution.

Taking a dig at the Opposition, Modi said, many have expressed apprehension about India's fintech progress, saying villages don't have internet and electricity connections. "When 'Saraswati Maa', the goddess of knowledge, was imparting wisdom, some self-proclaimed experts were already casting doubts. They would question how a fintech revolution could occur... they would even ask someone like me, a 'chaiwala'," he wondered. Yet, in just a decade, India has witnessed a remarkable transformation, the Prime Minister said.