India’s Unified Payments Interface (UPI) has achieved a major international breakthrough, launching in over eight countries including powerhouses like Singapore, France, Qatar, UAE, Bhutan, Nepal, Sri Lanka, and Mauritius. This move cements India’s role as a trailblazer in digital payments.
Parliament heard on Friday how UPI’s global adoption is supercharging remittances, advancing financial inclusion, and bolstering India’s fintech influence. Electronics and IT State Minister Jitin Prasad outlined these gains in Rajya Sabha, painting a picture of expansive digital progress.
In parallel, 23 MoUs have been executed with nations for India Stack/DPI sharing, emphasizing cooperation in digital IDs, payments, data flows, and service ecosystems—core to India’s DPI strategy.
DigiLocker has new partners in Cuba, Kenya, UAE, and Laos. Through India Stack Global, 18 platforms are accessible to allies. The 2023 G20 Global DPI Repository, spearheaded by India, thrives as a knowledge nexus with India’s top contributions.
Highlighting the stack: Aadhaar, UPI, CoWIN, API Setu, DigiLocker, Aarogya Setu, GeM, UMANG, DIKSHA, e-Sanjeevani, PM GatiShakti. NPCI figures for January show UPI transactions at 21.70 billion (28% YoY growth) and ₹28.33 lakh crore value (21% up), underscoring explosive demand. With UPI’s worldwide stride, India is exporting its digital success story.