During his visit to India, Spanish Prime Minister Pedro Sanchez used India’s digital payment system, UPI (Unified Payments Interface), to buy a Lord Ganesh statue in Mumbai. Guided by an official, Sanchez experienced the ease and efficiency of UPI firsthand. The Ministry of External Affairs spokesperson tweeted, “Experiencing India’s digital revolution firsthand. President @sanchezcastejon made a payment through UPI in Mumbai today, witnessing its real-time and seamless transaction value.” This highlights the technological ties between India and Spain.
This gesture follows a similar event where Prime Minister Modi introduced French President Emmanuel Macron to UPI, showing the increasing global exposure of India’s digital infrastructure.
About UPI
Launched in 2016 by the National Payments Corporation of India (NPCI) and regulated by the RBI, UPI has become a key player in India’s digital payments landscape. With over 350 million active users, UPI enables real-time bank-to-bank transfers using a mobile number, QR code, or Virtual Payment Address (VPA) without needing full bank details for each transaction. In 2023, UPI processed over 117 billion transactions worth $2.19 trillion, expected to make up 90% of India’s retail digital payments by 2028.
Sanchez’s Visit to India
Marking the first Spanish Prime Minister visit to India in 18 years, Sanchez’s three-day tour included several key engagements. He joined PM Modi for a Vadodara roadshow and jointly inaugurated the Tata-Airbus facility for assembling C-295 military aircraft, India’s first private military aircraft final assembly line. In Mumbai, Sanchez also addressed the India-Spain CEOs Forum, fostering trade discussions between the two nations.
