Prime Minister, Shri Narendra Modi today along with the President of Sri Lanka, Mr Ranil Wickremesinghe and the Prime Minister of Mauritius, Mr Pravind Jugnauth jointly inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, and also RuPay card services in Mauritius via video conferencing.
Mr. Pravind Jugnauth, Prime Minister of Mauritius, announced that the co-branded RuPay card would function as a domestic card within Mauritius, greatly benefiting citizens of both nations.
Congratulating PM Modi on the consecration of Shri Ram Mandir in Ayodhya, President Ranil Wickremesinghe emphasized the long-standing economic ties between Sri Lanka and India, expressing the hope for further connectivity and relationship deepening.
Addressing the occasion, Prime Minister Modi highlighted the significance of the digital connection between India, Sri Lanka, and Mauritius, underlining the government’s commitment to people’s development. He stressed how fintech connectivity would bolster cross-border transactions and strengthen ties.
PM Modi showcased India’s digital public infrastructure, emphasizing its transformative impact, with over 100 billion transactions via UPI last year, worth significant sums across borders. He also emphasized the role of technology in promoting transparency and reducing corruption.
Reiterating India’s ‘Neighborhood First’ policy and the SAGAR vision for regional growth, PM Modi emphasized the historical and cooperative nature of India’s relations with its neighbors.
PM Modi underscored the success of Global South cooperation, emphasizing the historical bonds between the nations. He highlighted India’s role as a first responder in times of crisis and its commitment to supporting its friends globally.
The launch signifies a significant step in global fintech innovation and digital connectivity. It enables seamless digital transactions and enhances connectivity between India, Sri Lanka, and Mauritius, benefiting a diverse range of people.
With the extension of UPI and RuPay services, Indian nationals traveling to Sri Lanka and Mauritius, as well as Mauritian nationals traveling to India, will have access to efficient payment solutions.
The extension of RuPay card services in Mauritius will allow Mauritian banks to issue RuPay cards, facilitating transactions in both India and Mauritius.