BIMSTEC Summit / India's UPI will now work in Thailand too, PM Modi made the proposal to BIMSTEC countries

BIMSTEC Summit: India's Unified Payments Interface (UPI) has not only become a symbol of digital revolution in the country, but it is now making its echo felt on the global stage as well. This unique technology of India in the field of digital payments is being adopted in many countries today, and its expansion is continuing.

In this episode, Prime Minister Narendra Modi has proposed to the BIMSTEC (Bay of Bengal Multi-Sectoral Technical and Economic Cooperation) countries to connect India's UPI with their payment system. BIMSTEC includes countries like Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand. This initiative will not only strengthen economic cooperation between these countries, but will also infuse a new energy in the field of trade and tourism.

International expansion of UPI

The success story of UPI is no longer limited to India. Currently this technology is active in seven countries - countries like Bhutan, Mauritius, Nepal, Singapore, Sri Lanka, France and UAE are now connected with India through this digital bridge. Around 20 digital apps like BHIM, PhonePe, Paytm and Google Pay are supporting UPI in international transactions.

This technological innovation gives Indians a fast, secure and transparent payment experience while traveling abroad, while also helping in promoting Indian tourism and trade in these countries.

Revolution in cross-border transactions

Prime Minister Modi's BIMSTEC initiative is considered a big step in this direction. If the payment systems of these countries are linked to India's UPI, then cross-border transactions will become extremely simple. This will not only benefit the merchants, but will also make the travel and business experience seamless for the common citizens.

This strong network of digital payments will also strengthen financial inclusion among the BIMSTEC countries, giving a new direction to the economic solidarity of the entire region.

UPI performance: Success in numbers

The success of UPI can also be clearly seen in numbers. According to Worldline’s H2 2024 India Digital Payments Report, the number of transactions through UPI has grown 42% year-on-year to reach 93.23 billion. The three apps that have played a key role in this digital revolution – PhonePe, Google Pay and Paytm – controlled 93% of the total transaction volume and 92% of the value in December 2024.

Another step towards the future

The global spread of UPI not only reflects India’s technological prowess, but also presents a viable model for developed and developing countries. The BIMSTEC initiative is expected to give new impetus to regional partnerships and the digital economy.

India’s UPI is no longer just a technology, but a symbol of economic cooperation, trust and transparency – and the journey is far from over.

BIMSTEC is an important forum to further global good. It is imperative we strengthen it and deepen our engagement. In this context, I proposed a 21-point Action Plan covering different aspects of our cooperation. pic.twitter.com/6lsTbLwAGc

— Narendra Modi (@narendramodi) April 4, 2025