Indians will be able to make payments in rupees via UPI in France: PM Modi
Europe, July 14, 2023
Unified Payments Interface (UPI) is India's mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer
Prime Minister Narendra Modi on Thursday announced that India and France have agreed to use Unified Payments Interface (UPI) payment mechanism and it will begin from the iconic Eiffel Tower.
PM Modi said that Indian tourists in France will now be able to make payments in rupees.
"Be it India's UPI or other digital platforms, they have brought a huge social transformation in the country and I am happy that India and France are also working together in direction. India and France have agreed to use UPI in France. I will leave after the agreement. However, it is your job to move forward. Friends, in the coming days its beginning will be made from Eiffel Tower which means that Indian tourists will now be able to make payments in Rupees, through UPI, at Eiffel Tower," Modi said while addressing the Indian community at La Seine Musicale in Paris.
Unified Payments Interface (UPI) is India's mobile-based payment system and allows people to make round-the-clock payments through a virtual payment address created by the customer.
Earlier this year, UPI and Singapore's 'PayNow' signed an agreement facilitating users in either country to make cross-border transactions.
The announcement is seen as a significant development for bilateral trade and tourism, between India and France.
In his remarks, PM Modi said that India and France are working on archaeological missions for a long time. He stressed that digital infrastructure strengthens the ties between two nations.
"Very few people know that India and France are working on archaeological missions for a long time. It's expanded from Chandigarh to Ladakh. Digital infrastructure is another sector that strengthens the ties between India and France," PM Modi said.
PM Modi also spoke about an International Monetary Fund (IMF) study which revealed that efforts by India not only benefit the country but the entire humanity.
"An IMF study says that extreme poverty in India is now on the verge of ending. When India does such great work, it benefits not only the country but the entire humanity," Modi said.
PM Modi also recalled that Indian soldiers 100 years ago laid down their lives while protecting the pride of France.
"Hundred years ago, Indian soldiers, protecting the pride of France, laid down their lives on French soil while performing their duty. Then the Punjab Regiment, one of the regiments that took part in the war here, is going to participate in the National Day Parade tomorrow," he said.
PM Modi is attending the National Day Parade of France with French President Emmanuel Macron. He called it a reflection of the "unbreakable friendship between India and France."
"I congratulate the people of France. I thank the people of France for inviting me. Today French PM received me at the airport and tomorrow I will attend the National Day parade with my friend Emmanuel Macron. This is a reflection of the unbreakable friendship between India and France," Modi said.
PM Modi also stressed the people-to-people connect between France and India, saying that it is the "strongest foundation" of the partnership between the two countries.
"Our people-to-people connect, mutual trust between people of two countries is the strongest foundation of the India-France partnership," he said.
"India and France are tackling many challenges of the 21st century. Therefore, at this crucial time, the importance of the strategic partnership between our countries has increased even more," he added.
The Prime Minister, who arrived in Paris on Thursday on a two-day official visit, was accorded a ceremonial welcome at the airport. He was welcomed by French Prime Minister Elisabeth Borne at the airport.
[The Business Standard]
