UPI goes global: Payments now seamless in Sri Lanka and Mauritius

12 Feb 2024 , 02:38 PM

On February 12, Prime Minister Narendra Modi and the senior officials of the two island nations participated in a virtual event to officially launch India’s Unified Payment Interface (UPI) services in Sri Lanka and Mauritius.

Modi was joined at the virtual ceremony by President Ranil Wickremesinghe of Sri Lanka and Prime Minister Pravind Jugnauth of Mauritius. India’s growing bilateral economic connections with both Sri Lanka and Mauritius coincided with the opening of Indian services in those nations.

‘We are connecting our historical relations in a modern digital way today,’ Prime Minister Modi remarked, referring to it as a wonderful day. This demonstrates our dedication to the advancement of our personnel. Fintech connectivity is expected to enhance not only cross-border transactions but also cross-border connections. The Unified Payments Interface, or UPI, of India is currently carrying out a new duty: uniting partners with India.’

The Prime Minister went on to say that India has seen a revolutionary shift as a result of digital public infrastructure. ‘Due to its speed and convenience, even the tiniest merchant in our smallest village uses digital payments,’ he remarked.

He emphasised India’s emphasis on its ‘neighbourhood first policy’ as well. India prioritises its neighbourhoods. ‘SAGAR’ stands for Security and Growth for All in the Region, and it is our maritime goal. Our objectives are regional growth, security, and peace. India does not view its development as occurring in a vacuum from its friends and neighbours’, he stated.

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