π Modi pushes for UPI to connect globally
PM Narendra Modi called for India to create its own standards for international payments. He stated this system should integrate with countries with large Indian diaspora populations and significant trade volumes. The move aims to reduce remittance costs, as Indians abroad send the largest volume of money globally. This push comes ahead of the Brics summit, focusing on local currency trade alternatives to the dollar. Modi noted the success with Singapore and wants similar integrations across more markets.