Indian fintech firms looking overseas: BCG-FICCI survey

A recent Boston Consulting Group-FICCI survey has pointed out that a substantial number of Indian fintech companies were keen to expand internationally. The growth trajectory of India’s fintech sector has been rapid, with companies in the sector managing to raise nearly $10 billion from investors all over the world. This has helped catapult the sector’s total valuation to an estimated $50-60 billion. Over the next five years, the country’s fintech industry is estimated to register over two times growth in market-valuation. A large number of Indian financial technology or fintech firms were looking at overseas expansion, a recent survey conducted by the global management consulting firm Boston Consulting Group (BCG) and the industry chamber Federation of Indian Chambers of Commerce and Industry (FICCI) has said. The report detailed the findings from the joint study undertaken by BCG and FICCI to assess the value creation potential and identify imperatives for growth of the sector. Prateek Roongta, Managing Director & Partner, Boston Consulting Group India, Ruchin Goyal, Managing Director & Senior Partner, Boston Consulting Group India, and Dilip Chenoy, Secretary-General, FICCI, explain in this piece.To read the full article, click here.