New Delhi: The German embassy in India praised India's digital infrastructure, considering it a remarkable success story. This commendation followed Germany's Federal Minister for Digital and Transport, Volker Wissing, using India's Unified Payments Interface (UPI) for a transaction and being thoroughly impressed. In a post on the social media platform X (formerly known as Twitter), the German embassy in India highlighted India's accomplishment in digital infrastructure, particularly emphasizing UPI's role in enabling swift transactions. The embassy shared that Minister Volker Wissing personally experienced the efficiency of UPI payments and found it fascinating.
Accompanying the statement was a video showcasing Minister Wissing engaging with the UPI system. Minister Volker Wissing's visit to India was prompted by his participation in the G20 summit. He attended the G20 Digital Ministers Meeting in Bengaluru on August 19. The German Embassy in India posted on X that the meeting was set to commence, noting an insightful discussion between Minister Wissing and India's Minister of Electronics and Information Technology, Ashwini Vaishnaw. Their conversation focused on enhancing Indo-German collaboration in the realms of information technology and artificial intelligence through their Digital Dialogue.
The Unified Payments Interface (UPI) is an innovative mobile-based payment system originating from India. It empowers individuals to conduct instant, 24/7 transactions. Notably, countries like Sri Lanka, France, UAE, and Singapore have established partnerships with India to explore emerging fintech and payment solutions. In a groundbreaking move, India and Singapore signed an agreement in February 2023 to interlink their payment systems. Similarly, France embraced India's UPI payment mechanism through an agreement, marking a significant step toward adopting this technology at iconic sites like the Eiffel Tower.
Modi Government's Initiatives Foster Formalization of MSMEs, Boost Economic Growth: SBI Research
