PM Launches UPI Services in Sri Lanka and Mauritius, Strengthening Digital Ties
Delhi, 12th February 2024: In a historic move, Prime Minister Narendra Modi inaugurated Unified Payments Interface (UPI) services in Sri Lanka and Mauritius, fostering digital connectivity among the three Indian Ocean nations. The launch event, graced by President Ranil Wickremesinghe of Sri Lanka and Prime Minister Pravind Jugnauth of Mauritius, showcased the commitment to modernize bilateral ties through digital means.
Addressing the gathering, PM Modi highlighted the transformative impact of India’s Digital Public Infrastructure, emphasizing how even small villages and businesses engage in digital payments. He lauded the success of UPI, with over 100 billion transactions in the past year alone, totaling a value exceeding 2 lakh crore rupees.
The Prime Minister underscored the significance of Fintech connectivity, stating that it goes beyond cross-border transactions to strengthen cross-border connections. He introduced UPI’s new role as “Uniting Partners with India,” anticipating enhanced financial collaboration.
PM Modi shared India’s commitment to its “Neighbourhood First” policy and the ‘SAGAR’ maritime vision, emphasizing the goal of peace, security, and growth for all in the region. He expressed confidence that the UPI integration with Sri Lanka and Mauritius would accelerate digital transformation, benefiting local economies and boosting tourism.
The Prime Minister envisioned increased tourist traffic from India to UPI-connected destinations in Sri Lanka and Mauritius. He celebrated the initiation of RuPay card services in Africa through Mauritius, anticipating reduced currency exchange hassles and real-time, cost-effective transactions.
PM Modi concluded by acknowledging the success of Global South cooperation and India’s steadfast support for its neighbors during crises. He thanked President Wickremesinghe, Prime Minister Jugnauth, central banks, and agencies for their crucial roles in making the UPI launch a success.
