Prime Minister Narendra Modi held talks with Cuban President Miguel Diaz-Canel Bermudez on Sunday on the sidelines of the 17th BRICS Summit in Rio de Janeiro, Brazil, focusing on boosting cooperation in pharmaceuticals, biotechnology, traditional medicine, and digital infrastructure, especially Unified Payment Interface (UPI).
According to MEA spokesperson Randhir Jaiswal, “PM Narendra Modi met with President Miguel Diaz-Canel Bermudez of Cuba on the sidelines of the 17th BRICS Summit in Rio de Janeiro, Brazil. Both leaders exchanged views on various facets of India-Cuba relationship including in the areas of economic cooperation, biotechnology, pharma, Ayurveda and traditional medicine, Digital Public Infrastructure and UPI, disaster management, and capacity building.”
UPI Makes Waves in the Caribbean and Beyond
The discussion on UPI comes just days after Trinidad and Tobago became the first Caribbean nation to adopt India’s flagship digital payment platform during PM Modi’s historic visit — the first bilateral trip by an Indian Prime Minister to the country in 26 years.
In another milestone during his recent Ghana visit, Modi addressed the nation’s Parliament and emphasised growing trade ties while offering to share India’s fintech experience.
“In the field of FinTech, India is ready to share its experience of UPI digital payments with Ghana,” he stated.
UPI’s Global Expansion Strategy Gains Momentum
India’s digital payment system, led by UPI, has emerged as a model for financial inclusion and digital transformation worldwide. The platform currently processes over 100 billion transactions annually. In 2024, France became the first European country to adopt UPI on a wide scale, with more countries joining since.
The National Payments Corporation of India (NPCI) has actively facilitated the platform’s global use. It introduced UPI Global Acceptance, which enables QR code-based payments at select international merchants directly from Indian bank accounts via UPI-powered apps.
‘Digital India’ Marks a Decade of Impact
Highlighting the success of India’s digital revolution, PM Modi remarked, “From how we govern, to how we learn, transact, and build, Digital India is everywhere,”during the 10-year celebration of the Digital India initiative on July 1.
Currently, UPI is operational in seven countries: the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.
“India Stack, which is our digital backbone, has enabled platforms like UPI, which now handles 100+ billion transactions a year. Around half of all real time digital transactions happen in India,” PM Modi said.
The meeting with the Cuban President adds to the growing momentum of UPI’s global acceptance and India’s vision of digital diplomacy.
