India Looks to Expand UPI to Cyprus, Strengthens Global Digital Ties

India is working towards expanding the global footprint of its flagship digital payment system, the Unified Payments Interface (UPI), with discussions underway to bring Cyprus into the growing network.

Speaking at the India-Cyprus CEO Forum in Limassol on June 15, Prime Minister Narendra Modi highlighted that several countries—including France—are already connected to UPI, and welcomed Cyprus’s potential inclusion.

UPI as a Global Digital Public Good

UPI, developed by the National Payments Corporation of India (NPCI), is widely seen as a model for seamless, secure, real-time digital transactions. India’s push to internationalize the platform is aimed at strengthening cross-border financial connectivity and enhancing economic cooperation with partner countries.

With UPI accounting for nearly 50% of the world’s digital transactions, its adoption by more countries reflects the growing recognition of India's digital innovation. Modi described UPI as a hallmark of India’s digital revolution and a symbol of financial inclusion that has transformed access to financial services for millions.

Integrating Cyprus into the UPI ecosystem is expected to deepen bilateral digital collaboration, improve remittance flows, and facilitate smoother business transactions between the two nations.

India’s Broader Economic and Infrastructure Vision

Beyond digital payments, India is also investing aggressively in building future-ready infrastructure. Modi noted that the government is spending over $100 billion annually on key sectors. The focus areas include a new Manufacturing Mission and significant efforts toward port development, shipbuilding, and shipbreaking—part of a broader push to make India a hub for maritime trade and logistics.

Read More: NSE IX Signs Strategic MoU With Cyprus Stock Exchange To Boost Cross Listings And Capital Market Ties.

Conclusion

India’s efforts to expand UPI beyond its borders showcase its ambition to lead the world in digital public infrastructure. As countries like Cyprus consider joining the platform, India is setting the stage for a future where seamless digital payments become a key pillar of global financial collaboration.

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