'A Wonder to the World': PM Modi On UPI Powering Half of Global Real-Time Transactions

Prime Minister Narendra Modi on Friday announced that India’s Unified Payments Interface (UPI) now processes half of all real-time transactions globally. Speaking from the Red Fort during his 12th consecutive Independence Day address, Modi said, “Our UPI platform feels like a wonder to the world today… we have the capability (to become self-reliant).”

He also added that UPI handles 50% of all real-time transactions worldwide.

Launched in 2016, UPI has seen exponential growth in both transaction volume and value. In FY25 alone, it recorded 18,587 crore transactions worth Rs 261 lakh crore. July 2025 witnessed nearly 1,947 crore transactions, reflecting its increasing role in everyday payments across India.

Expanding Beyond Borders
UPI’s influence is no longer confined to India. The system is now operational in seven countries: the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius. Its entry into France marks its debut in Europe, allowing Indians to make payments abroad without the usual complications of foreign exchange and card charges.

This international expansion enables smoother financial transactions for Indian travellers, expatriates, and businesses, further cementing India’s position as a leader in the global digital payments space.

NPCI’s Role in the Digital Payments Revolution
UPI is managed by the National Payments Corporation of India (NPCI), an initiative of the Reserve Bank of India and the Indian Banks’ Association. NPCI oversees retail payment and settlement systems, ensuring secure, swift, and accessible transactions.

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PM Modi on Job Creation Through Mudra Yojana
In his speech, Modi also highlighted the success of the PM Mudra Yojana. “Through their small enterprises, they have been able to create jobs,” he said, referring to the crores who have benefited from collateral-free loans of up to Rs 20 lakh. These loans are available through Member Lending Institutions to micro and small units across manufacturing, trading, services, and allied agricultural sectors.

With UPI setting global benchmarks and schemes like Mudra Yojana fostering entrepreneurship, Modi’s address portrayed a vision of India as both a financial technology powerhouse and an engine for grassroots economic growth.