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G-20 Sherpas' meeting: India to fund digital payments infrastructure abroad

"This is about spreading India's soft power and also enabling Indian private sector, which is well versed in these technologies, to get business opportunities abroad," a second senior official said

Arup Roychoudhury Kumarakom

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Photo: Bloomberg

3 min read Last Updated : Mar 30 2023 | 11:22 PM IST

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Not only is India willing to provide the technical expertise to low- and middle-income nations that are interested in developing or improving their own digital payments systems, but is also keen to finance such efforts, Business Standard has learnt.

“We are looking to help the countries in the ‘global south’ with their own digital public infrastructure. We have built our own infrastructure and are showcasing it throughout G20. We will help them with the funding of such initiatives as well,” a senior government official told this paper on the sidelines of the G20 Sherpas’ Meeting in Kumarakom, Kerala.

Reserve Bank of India Deputy Governor T Rabi Sankar had last month said a number of Commonwealth nations from the Caribbean and South Pacific, and some Latin American countries as well are interested in using Unified Payments Interface (UPI) or a similar technology. However, it was understood then to be just t