New Delhi, Feb 12: Prime Minister Narendra Modi, joined by Sri Lankan President Mr Ranil Wickremesinghe and Mauritian Prime Minister Mr Pravind Jugnauth, inaugurated the launch of Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, along with RuPay card services in Mauritius, through a virtual conference.
Pravind Jugnauth, the Prime Minister of Mauritius, highlighted that the co-branded RuPay card would be designated as a domestic card in Mauritius, foreseeing great convenience for citizens of both countries.
President Ranil Wickremesinghe of Sri Lanka extended congratulations to Prime Minister Modi for the consecration of the Shri Ram Mandir at the Ayodhya Dham, emphasizing the longstanding economic ties between the nations. He expressed hopes for the sustained momentum of connectivity and deepening of relations.
Addressing the occasion, Prime Minister Modi described the event as a milestone in the digital connectivity between India, Sri Lanka, and Mauritius, reflecting the government’s commitment to people’s development.
PM Modi stressed the potential of fintech connectivity to bolster cross-border transactions, labelling India’s UPI as “Uniting Partners with India”.
Highlighting India’s digital revolution, the Prime Minister noted the exponential growth of UPI transactions and emphasized the transformative impact of technology in promoting transparency, reducing corruption, and fostering inclusivity.
Reaffirming India’s “Neighbourhood First” policy and the SAGAR maritime vision, Prime Minister Modi underscored the importance of strengthening financial connectivity as outlined in the Vision Document adopted during the Sri Lankan President’s last visit. He expressed confidence that UPI and RuPay connections would stimulate digital transformation, spur local economies, and promote tourism.
Prime Minister Modi hailed the launch of the RuPay card in Mauritius as a significant step toward facilitating travel and reducing dependency on hard currency. He envisioned the expansion of cross-border remittances in the future. Emphasizing the historical and people-centric nature of India’s relations with its neighbouring nations, Prime Minister Modi reaffirmed India’s commitment to supporting its friends in times of crisis.
He also highlighted India’s efforts to extend the benefits of its digital infrastructure to the Global South, including through initiatives like the Social Impact Fund.
Prime Minister Modi expressed gratitude to President Wickremesinghe, Prime Minister Jugnauth, and the central banks and agencies of all three countries for their contributions to the successful launch of UPI and RuPay services.