Singapore, November 14: Prime Minister Narendra Modi invited fintech companies and startups to India while delivering his keynote address at the Singapore Fintech Festival on Wednesday. PM Modi described India as the best destination for fintech companies and startups, adding that fintech can be used to make the world a better place.

"I say this to all the fintech companies and startups – India is your best destination," PM Modi said in his keynote address at the Singapore Fintech Festival. "There is an explosion of fintech innovation and enterprise in India. It has turned India into a leading fintech and startup nation in the world. The future of fintech and Industry 4.0 is emerging in India," he said. PM Modi Reaches Singapore For East Asia Summit.

PM Modi said his government left no stone unturned for financial inclusion of Indians. "My government came to office in 2014 with a mission of inclusive development that would change the lives of every citizen, even the weakest in the remotest village. That mission needed a solid foundation of financial inclusion for all - a task that wasn't easy in a country of India's size," he said.

The prime minister said financial inclusion has become a reality for 1.3 billion Indians and it transformed governance and delivery of public services. He said rapidly rising digital transactions in India powered by Rupay and BHIM app. "Digital technology is also introducing transparency and eliminating corruption," PM Modi said.

"We see inspiring stories of extraordinary innovation changing ordinary lives. But, there is much to be done," he added. Modi reached Singapore to attend the 13th East Asia Summit(EAS). He was welcomed with a thunderous applause outside his hotel amid loud cheers of 'Vande Mataram' and 'Bharat Mata Ki Jai'.

During the two-day visit, Prime Minister Modi is scheduled to attend the 16th Association of Southeast Asian Nations (ASEAN)-India Breakfast Summit, and the 2nd Regional Comprehensive Economic Partnership (RCEP) Summit.

(The above story first appeared on LatestLY on Nov 14, 2018 09:08 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).