Modi wants UPI to grab a bigger slice of the global pie
Prime Minister Narendra Modi inaugurated the Global Fintech Fest (GFF) 2026 in Mumbai and highlighted India's strong economic performance, improved sovereign rating, and the reach of the Unified Payments Interface (UPI). Speaking about India's growth amid global uncertainties, Modi said the country's 7.8 per cent growth in the April-June quarter provided hope even in the toughest times.
The Prime Minister praised India's sovereign ratings upgrade by Japan's credit rating agency, marking the first time in 30 years. Modi emphasized the significance of UPI, which celebrated its 10th anniversary on August 25, stating that it now operates in 11 countries. He expressed the desire to expand UPI's global footprint through networks like the India-Singapore UPI system to facilitate seamless transactions between countries.
Modi also discussed the potential for non-payment transactions to boost India's fintech sector, noting that remittances using UPI could reduce costs and transaction times. The Prime Minister concluded his address by expressing his confidence in India's Viksit Bharat goal, inspired by the energy and opportunities at the fintech gathering.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
