Bhubaneswar: President of India Droupadi Murmu on Friday graced the Black Swan Summit, India, organised by the Government of Odisha in collaboration with the Global Finance and Technology Network, in Bhubaneswar. Addressing the gathering, the President underlined the transformative potential of technology while cautioning against the emerging risks accompanying rapid digital advancement.
The President observed that the world is living in an era where technology is evolving at an unprecedented pace, often faster than systems, skills, and business models can adapt. While such rapid innovation drives growth and new opportunities, it also presents serious challenges, including cybersecurity threats, deepfakes, misinformation, and increasing dependence on technology. Despite these concerns, she said, technological progress has had a significant positive impact on innovation and economic development.
She noted that platforms like the Black Swan Summit provide an important space to explore innovative approaches for leveraging technology to enhance skills, generate employment, and accelerate digital and financial transformation. According to her, such initiatives are vital for building resilient systems that can adapt to constant change.
Highlighting India’s fintech journey, President Murmu said the country has witnessed a remarkable transformation in its financial ecosystem over the past decade. Direct Benefit Transfers and digital payments have become an integral part of daily life for farmers, small shopkeepers, and women across the country. For millions of citizens, she remarked, fintech is no longer a technical concept but a lifeline.
The President stressed that India’s fintech story should also be seen through the lens of gender justice. She emphasised that women must not be viewed merely as end users of financial technology but as leaders, professionals, and entrepreneurs within the fintech ecosystem. Every new platform, product, or policy, she said, must be assessed on whether it enables women to become active participants in the digital and financial landscape.
However, the President cautioned that fintech alone does not guarantee inclusion. Many citizens, particularly in remote, tribal, and rural areas, remain unfamiliar with digital tools. Skilling and digital literacy, she said, are essential to ensure their meaningful participation in the development process. Only then can fintech truly emerge as an engine of inclusion, employment generation, and entrepreneurship. She urged innovators and entrepreneurs to ensure that technology serves the cause of social justice.
Drawing attention to the misuse of technology, President Murmu highlighted the growing incidence of online financial frauds. She emphasised the need for greater public awareness and vigilance, noting that the Government of India has taken several steps to address this challenge. These include the establishment of the Indian Cyber Crime Coordination Centre, the Citizen Financial Cyber Fraud Reporting and Management System, and the Cyber Fraud Mitigation Centre. She underlined that digital and financial literacy must be strengthened and introduced early, ideally as part of school curricula, so that young people understand both the benefits and risks of technology.
The President also described investments in skill development, global capability centres, and innovation capacity as crucial investments in human capital. She expressed satisfaction over the Odisha government’s BharatNetra initiative, which aims to build a future-ready workforce and a robust innovation ecosystem in digital, financial, and insurance technology sectors. Appreciating the Government of Odisha and the Global Finance and Technology Network for co-organising the Black Swan Summit under this initiative, she expressed confidence that the discussions and collaborations emerging from the summit would have a transformative impact on Odisha, India, and the world.
