NEW DELHI: India is expanding its instant payment network with a new international partnership. On Tuesday, Prime Minister Narendra Modi announced that India will work on connecting its Unified Payments Interface (UPI) with Malaysia's PayNet. This development was shared during a joint press conference with Malaysian Prime Minister Anwar Ibrahim.
"Efforts will be made to link India's UPI with Malaysia's PayNet," PM Modi stated. Currently, UPI operates in Bhutan, Singapore, the UAE, France, Mauritius, Sri Lanka, and Nepal. Minister of State for Finance Pankaj Chaudhary noted that the Indian government and the Reserve Bank of India (RBI) are actively working to extend UPI’s global footprint.
Earlier in the day, PM Modi and Malaysian Prime Minister Ibrahim met at Hyderabad House in New Delhi to discuss strengthening ties between their countries. He was warmly welcomed at the airport by Union Minister of State, V Somanna, highlighting the importance of his state visit. This visit, which comes at the invitation of Prime Minister Narendra Modi, underscores the growing strategic and diplomatic ties between the two nations.
During his time in India, Prime Minister Ibrahim paid tribute to Mahatma Gandhi by laying a wreath at Rajghat, a revered memorial dedicated to the Father of the Nation. Following this solemn ceremony, he took a moment to sign the visitor’s book, reflecting on the significance of Gandhi’s legacy of peace and non-violence. The homage at Rajghat added a symbolic touch to the visit, emphasizing the historical bonds and mutual respect between the two countries.
The trip also includes crucial diplomatic engagements. India's External Affairs Minister, S Jaishankar, is scheduled to meet with Prime Minister Ibrahim to discuss a range of issues aimed at deepening bilateral cooperation. This interaction between the leaders is expected to play a pivotal role in strengthening ties across various sectors, from trade and investment to culture and defense.
India and Malaysia share a robust historical connection, rooted in strong socio-cultural ties. In 2015, the bilateral relationship between the two countries was elevated to the status of Enhanced Strategic Partnership during Prime Minister Modi's visit to Malaysia. This partnership has since paved the way for greater cooperation across a wide range of sectors.
As India and Malaysia approach the second decade of their Enhanced Strategic Partnership next year, Prime Minister Anwar Ibrahim's visit comes at a crucial juncture. According to the Ministry of External Affairs (MEA), this visit is expected to lay the groundwork for future collaborations and initiatives, charting out a multi-sectoral cooperation agenda. The visit signifies a mutual commitment to further enhancing relations in areas such as technology, trade, defense, education, and cultural exchange, reinforcing the strong foundation upon which the India-Malaysia partnership has been built.
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