Updated 6 July 2025 at 01:15 IST
Buenos Aires: Prime Minister Narendra Modi’s ongoing five-nation tour, which began on July 2, is witnessing new momentum in India’s global partnerships, especially in the digital payments and fintech space.
One of the key highlights came during his visit to Argentina, where discussions with President Javier Milei included a deep dive into India’s Unified Payments Interface (UPI). The topic, according to officials, emerged as a major point of interest alongside other bilateral issues.
During a media briefing, Secretary (East) P. Kumaran revealed that President Milei was particularly intrigued by the transformative impact of UPI on India's economy.
“The other major topic of discussion during lunch was India’s UPI system, how it has boosted productivity in India, driven impressive formalization of the economy, and generated data that helps the government and economists efficiently target benefits to different sections of the population...” Kumaran said.
He added that President Milei was curious about how UPI strengthens monetary policy implementation and helps central banks maintain better financial control.
"The two sides agreed that they should have a visit by a central bank delegation to visit India to talk about various aspects of this,” Kumaran noted.
This growing interest places Argentina in line with a number of countries that have already engaged with India’s digital payments ecosystem.
During Prime Minister Narendra Modi’s visit to Trinidad and Tobago from July 3–4, the island nation became the first in the Caribbean to adopt India’s Unified Payments Interface (UPI).
Both countries also agreed to collaborate on implementing India Stack solutions, including DigiLocker, e-Sign, and the Government e-Marketplace (GeM). The move reflects India’s push to globalize its digital infrastructure and Trinidad and Tobago’s interest in advancing public service delivery through technology.
Country | Status of UPI Integration | Details |
---|---|---|
Singapore | Live Integration | Linked with PayNow for real-time cross-border payments |
Sri Lanka | Live | UPI launched in partnership with LankaPay |
Mauritius | Live | UPI launched alongside RuPay in February 2024 |
Nepal | Live | Integrated via Gateway Payments and Manam Infotech |
Bhutan | Live | First foreign country to adopt UPI for retail payments via BHIM |
UAE | MoU Signed / Operational | UPI enabled for NRIs; partnership with Mashreq Bank |
France | Live (Tourism-focused) | UPI accepted at tourist locations like the Eiffel Tower |
Prime Minister Narendra Modi will conclude his five-nation tour with a State Visit to Namibia on July 9, at the invitation of President Netumbo Nandi-Ndaitwah.
At a media briefing, MEA Secretary Dammu Ravi confirmed that India’s Unified Payments Interface (UPI) will be introduced in Namibia following a signed agreement between the Central Bank of Namibia and NPCI International.
“In the development cooperation area, capacity building, defence cooperation... the centre for excellence for IT – we are going to set it up. During the visit, the setting up of UPI with the country as a technology agreement has already been signed between the Central Bank of Namibia and NPCI... Namibia is a very resource-rich country, with many critical minerals... and discussions will be there on this also,” he said.
Published 6 July 2025 at 01:15 IST