Thursday’s pact in Tel Aviv integrates India’s powerhouse UPI into Israel’s payment ecosystem, a move Prime Minister Modi celebrated as pivotal for frictionless international trade. Watched by PM Modi on his visit’s concluding day, the deal ensures quicker, cheaper digital payments across borders.
This linkage will cut transaction costs and speed up settlements for enterprises, fostering deeper economic integration. UPI’s stellar record in India—57% market share eclipsing cash at 38%, per Finance Ministry data—relies on its intuitive design and real-time capabilities, with 65%+ users making frequent daily use.
Announcements highlighted a Critical Technologies Partnership to invigorate AI, quantum, and minerals cooperation. Further vows covered nuclear energy, space, futuristic farming, and village excellence programs.
With deployments in UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar, UPI’s interoperable framework proves public innovation trumps private silos, blending inclusion with efficiency. India and Israel’s UPI collaboration heralds expanded digital commerce opportunities, underlining their shared vision for a connected, prosperous future.