INDIA’S hugely successful digital payments system, which transformed the way millions transfer money instantly using their mobile phones, is increasingly being viewed as a powerful instrument of economic diplomacy, analysts say. The country’s homegrown digital public infrastructure, led by its widely used instant payment network, has become one of India’s biggest technological success stories and is now attracting growing international interest.
That potential is becoming particularly evident in Indonesia, South-East Asia’s largest economy, where officials are examining whether India’s low-cost digital payment architecture can be adapted to support the country’s own financial and digital transformation goals. Experts say the growing interest reflects India’s expanding role in exporting digital public infrastructure, enabling partner nations to build efficient, affordable and inclusive payment systems while strengthening economic cooperation and technological ties.
India’s Unified Payments Interface (UPI) will be integrated with Indonesia’s payment system, a move expected to make cross-border payments easier and strengthen trade, tourism and business between the two countries, Prime Minister Narendra Modi announced on Tuesday during his visit to Jakarta.
ANI
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