India’s Digital Economy Receives £2bn Boost from Top UK Fintech Firms

The latest development in UK-India economic ties was unveiled at the Global Fintech Fest in Mumbai on October 9, 2025. UK Prime Minister Keir Starmer, alongside Prime Minister Narendra Modi, announced major investments by leading British fintech and banking companies into India's burgeoning digital economy. This move signals a new era of partnership focused on financial technology, job creation, and innovation in both nations.

Investment Commitments

The event showcased the following headline investments:

• Revolut committed £500 million to expand its India operations and develop new products and services adapted to local market needs over the next five years.​

  
  

• Tide pledged £500 million, targeting MSME sector growth and promising to add 800 new jobs in India by 2026, strengthening its Indian workforce to 2,300 professionals.​

  
  

• HSBC launched its dedicated Innovation Banking vertical in India with a $1 billion allocation for startup funding, enabling founders to scale operations with non-dilutive, debt-driven capital.​

  
  

These investments are expected to drive financial inclusion, digital adoption, and employment for Indian stakeholders, particularly in technology and fintech.

Tech Partnership Deepens

In addition to financial commitments, the summit marked the formal launch of the India–UK Joint Centre for AI focused on responsible and trustworthy use of artificial intelligence across critical sectors- health, climate, fintech, and engineering biology. Both governments also announced the creation of a Connectivity and Innovation Centre and a critical minerals guild to support resilient supply chains and sustainable technologies. UK-based Graphcore plans a £1 billion investment in an AI engineering campus in Bengaluru, aiming to create 500 semiconductor sector jobs.​

UK-India Comprehensive Economic and Trade Agreement: Background

These new announcements build on the momentum set by the India–UK Comprehensive Economic and Trade Agreement (CETA), signed in July 2025. The CETA marked a major milestone, providing 99% duty-free access to Indian goods in the UK, lowering tariffs for British exports to India, and instituting frameworks for services liberalization, creating substantial market access on both sides and laying foundations for intensified cooperation in sectors like fintech, AI, and advanced manufacturing.​

Broader Investment Landscape

The business delegation accompanying the UK Prime Minister comprised over 125 British CEOs and entrepreneurs, underscoring broad sectoral interest. Beyond fintech, commitments included £3.6 billion of investment across multiple industries and the creation of more than 10,600 new jobs connected to UK-India commercial partnerships.​

On the Indian side, 64 companies committed to £1.3 billion in investments within the UK, especially focusing on AI, tech, and sustainable engineering, reaffirming bilateral gains for both nations.