Prime Minister Narendra Modi said on Friday India is now joining countries like the US, Britain and Singapore, which are shaping new trends in the global financial sector.

He said India is one of the leading economies in the world and should build institutions capable of meeting its present and future role.

Modi spoke at an event at Gujarat International Finance Tech (GIFT) City near Gandhinagar following the groundbreaking ceremony for the International Financial Services Centers Authority (IFSCA) and the inauguration of the India International Bullion Exchange (IIBC) and the NSC (National Stock Exchange). IFSC (International Financial Service Centre) and SGX (Singapore Exchange Ltd) Connect platform.

Today, India joins countries like the US, UK and Singapore where new trends are being shaped in the global financial sector. I congratulate the people of the country on this achievement,” Modi said. India is one of the leading economies in the world and it is only going to get bigger in the future. We should build institutions that can meet our present and future responsibilities, said the prime minister. Modi states that India accounts for 40 percent of real-time digital payments worldwide.

Through the GIFT City, India is making a strong claim to its place in the international financial services sector, he said.

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