Foreign influence increasing over India's fintech sector: GTRI on Meta's investment in Cred (opens original article in a new tab)

Think tank GTRI warns that Meta's $900-million investment in Cred could increase foreign influence over India's fintech sector and financial data ecosystem, as it gains access to a major repository of consumer financial data.

• Meta's $900-million investment in Cred raises concerns about foreign influence over India's fintech sector
• GTRI warns that Meta's deal gives it access to India's rich consumer financial-behaviour data repository
• India allows foreign firms to build dominant positions on public digital infrastructure, risking transfer of financial data assets to foreign ecosystems