India aims to extend the reach of its Unified Payments Interface (UPI) digital payment system globally, with a particular emphasis on East Asia, as stated by Financial Services Secretary M Nagaraju. UPI has significantly contributed to India’s digital payment growth, constituting almost half of the nation’s digital transactions. The government is eager to replicate this success in more international markets.
Currently operational in eight countries including Bhutan, Singapore, and the UAE, UPI’s international acceptance enables Indian travelers to conduct digital transactions overseas without cash or international cards. The government’s strategic focus is now directed towards East Asia to establish UPI as a universally recognized payment platform.
Nagaraju highlighted UPI’s substantial impact in India, with transactions surpassing 21 billion in December 2025 alone. The surge in digital payment adoption has been bolstered by the expansion of bank accounts through the Pradhan Mantri Jan Dhan Yojana, alongside an increase in the average balance maintained in these accounts. UPI is overseen by the National Payments Corporation of India, responsible for managing the country’s retail payment and settlement systems.
In addition to promoting digital payments, Nagaraju emphasized the necessity of fostering the growth of micro-enterprises in India. Despite the existence of numerous micro-units, their progression into medium and large enterprises has been limited. He stressed that this transition can only occur with enhanced support for micro-enterprises in terms of market access, productivity enhancements, and the utilization of technology and modern equipment.
