India, June 18 -- India's fintech market is flourishing and projected to become $400 billion in the next three years, Union finance minister Nirmala Sitharaman said on Wednesday urging the industry to continue "fearlessly" innovating people-centric new solutions to maintain the country's leadership position in this area.

India accounts for almost half of all real time digital transactions in the world, she said at the Digital Payments Awards 2025 ceremony organised by the department of financial services (DFS), an arm of the finance ministry. According to industry estimates, the country's fintech market is estimated at around $110 billion with an adoption rate of 87%, significantly high compared to the global average of 67%.

"The fintec...