New Delhi: Prime Minister Modi on Wednesday urged BRICS nations to integrate India’s Unified Payments Interface (UPI) into their financial markets, highlighting the importance of financial integration among these countries. He noted that the UAE has already adopted the UPI payment system, and Mauritius has shown interest in implementing this technology.
“The Unified Payment Interface (UPI) created by India is a big success story. It has been adopted in many countries. Last year, we also launched it in UAE in collaboration with Sheikh Mohammed. Cooperation can be done in this with other foreign countries as well”, said PM Modi at 16th BRICS summit.
For the unversed, UPI was launched in Dubai on March 28 of this year. This initiative was made possible through a partnership between Mashreq, a Dubai-based bank, and NPCI International Payments Limited (NIPL). This collaboration is part of the Indian government’s strategy to expand UPI’s reach beyond India. Mashreq has equipped Neopay terminals to accept UPI as a payment option.
Meanwhile, PM also lauded ‘Gatishakti’ portal, saying, “Special emphasis is being laid on infrastructure in all the BRICS countries. To rapidly increase multimodal connectivity in India, we have created the ‘Gatishakti’ portal. This has helped in integrated planning and implementation of these developments and has reduced logistics costs. We will be happy to share our experiences with all of you. We welcome efforts to increase financial integration among BRICS countries. Trading in local currency and easy cross-border payments will strengthen our economic cooperation.”
He also highlighted the initiatives like Mission LiFE and ‘Ek Ped Maa Ke Naam’ taken by India to address the issue of climate change.
“In India also, special emphasis is being laid on green growth, climate-resilient infrastructure, and green transition. Initiatives like International Solar Alliance (ISA), the Coalition for Disaster Resilient Infrastructure, Mission LiFE (Lifestyle for Environment), and ‘Ek Ped Maa Ke Naam’ have been taken. We started a new initiative like Green Credit during last year’s COP Summit,” he said.
PM Modi Calls UPI a ‘Big Success,’ Encourages BRICS Nations to Adopt It ‘Like UAE’ world-news World News | Latest International News | Global World News | World Breaking Headlines Today
