PM Modi offers linking UPI with payment systems of BIMSTEC nations

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PM Modi offers linking UPI with payment systems of BIMSTEC nations - Business Standard

Quick Summary:

Seeking to impart fresh impetus to the BIMSTEC grouping, Prime Minister Narendra Modi on Friday proposed linking India's UPI with the payment systems of the member nations, a move that could boost trade, business and tourism within the region.

Addressing the sixth BIMSTEC Summit here, the Prime Minister also proposed to set up a BIMSTEC Chamber of Commerce, organise annual business summits and explore promoting trade in local currencies within the region.

Modi also proposed establishing a BIMSTEC Centre of Excellence for Disaster Management in India to collaborate on disaster preparedness, relief and rehabilitation.