International
oi-Prakash KL
In a significant boost to the market expansion of India’s Unified Payments Interface (UPI), Prime Minister Narendra Modi on Thursday announced that India and France have agreed to use UPI in the European nation.
Addressing the Indian community at the La Seine Musicale, PM Modi said very soon Indian tourists will be able to make rupee payments using UPI from atop the Eiffel Tower.
“In France, an agreement has been made for the use of India’s UPI…It will be started from the Eiffel Tower, and now Indian tourists would be able to make payments in Rupees, through UPI, in the Eiffel Tower,” he said.
In 2022, the National Payments Corporation of India (NPCI), which oversees UPI services, entered into a Memorandum of Understanding (MoU) with Lyra, France’s swift and secure online payment system. This collaboration aimed to foster cooperation and knowledge exchange between the two countries’ payment platforms.
Subsequently, in 2023, UPI expanded its reach further by establishing an agreement with PayNow, Singapore’s own payment system. This arrangement enables users from both nations to seamlessly conduct cross-border transactions, facilitating greater convenience and accessibility in the realm of digital payments.
#WATCH | “India has resolved that it will not let any opportunity slip, nor will it let a moment go to waste. I have resolved that every second of my time is for the people of the country, says PM Narendra Modi, in Paris pic.twitter.com/mURAB9PF35
— ANI (@ANI) July 13, 2023
The UAE, Bhutan, and Nepal have already adopted the UPI payment system.
The NPCI international is in talks to extend the UPI services in the US, European countries, and West Asia.
#WATCH | Paris: India is working towards becoming a developed country in the next 25 years…International agencies say that India is a bright spot…India has a lot of potential for investments. Indian government is committed to providing facilities & safety to all Indians who… pic.twitter.com/dosrHDA2H6
— ANI (@ANI) July 13, 2023
Amid chants of ‘Modi, Modi’ and ‘Bharat Mata ki Jai’, PM Modi also said in a few weeks or months from now a statue of great Tamil philosopher Thiruvalluvar will be built in the Cergy Prefecture.
He said France has decided to grant long-term five-year visas for students pursuing a masters degree in France.
The Prime Minister also appealed to the Indian community to invest in a big way in India as it makes rapid strides to emerge as a developed nation. “Today every rating agency is saying that India is a bright spot. You invest in India now. This is the opportune time. Those who invest early will reap benefits,” PM Modi said.
He also recalled a personal connection with France dating back to at least four decades when he had become the first member of Alliance Francaise Centre in Ahmedabad way back in 1981.
“My attachment to France is quite old, and I can never forget it. Around 40 years ago, a cultural centre of France was started in Ahmedabad, Gujarat, and the first member of that very centre is today talking to you,” the prime minister said.
PM Modi said India is the mother of democracy and the mother of diversity.
“This is our greatest strength. In India, there are more than 100 languages, 1,000 dialects. More than 32,000 newspapers get published every day in these languages,” the Prime Minister said.
Talking about India-France ties, the Indian Prime Minister said that people-to-people connect is the strongest foundation of its partnership.
“The partnership between India and France is being strengthened by the people of India and France. The trust people of both countries share is resemblance of this…Here in France, ‘Namaste India’ is celebrated and in India, we celebrate ‘Bonjour India’,” PM Modi added.
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