1 day ago
Modi Highlights UPI, Fintech Growth and India’s Reform Push
Prime Minister Narendra Modi spoke about how India’s digital payment system, UPI, has grown.
UPI lets people send money quickly using their phones and bank accounts.
He said UPI completed 10 years on August 25.
He estimated that about 50,000 UPI payments happened around the time of the event.
Modi said India should connect UPI with more countries, including countries it trades with.
He gave India and Singapore as an example of easier cross-border payments.
He also said India grew by 7.8 percent during a period of global uncertainty.
Modi said India’s reforms and financial technology sector could create more opportunities for young people.
Prime Minister Narendra Modi called India’s fintech development remarkable and identified the Unified Payments Interface as a major driver.
Modi said UPI completed 10 years on August 25 and estimated that about 50,000 UPI transactions occurred during the event.
He urged India to expand UPI to countries it does business with, citing easier payments between India and Singapore.
Modi said India grew 7.8% during a difficult global period marked by conflicts, trade tensions, and supply-chain pressures.
Speaking at Global Fintech Fest 2026 in Mumbai, he said India’s reform program would continue at a faster pace.
- Who
- Prime Minister Narendra Modi and participants at Global Fintech Fest 2026.
- What
- Modi highlighted UPI’s growth, encouraged its international expansion, and discussed India’s economic growth and reforms.
- Where
- Global Fintech Fest 2026 in Mumbai, Maharashtra.
- When
- September 8, 2026; UPI completed 10 years on August 25.
- Why
- To discuss India’s fintech development, UPI’s international reach, economic performance, and continued reforms.
Key facts
- Event
- Global Fintech Fest 2026
- Location
- Mumbai, Maharashtra
- UPI milestone
- Completed 10 years on August 25
- Estimated transactions
- About 50,000 UPI transactions around the time of the event
- India-Singapore payments
- Modi said transactions had become as easy as UPI payments between two Indian cities
- Economic growth
- 7.8% growth in the April-June quarter
- Event theme
- “Potential to Impact: Agentic AI, Tokenisation, Quantum — Trusted, Connected, Global Systems for Inclusive Finance.”
Quotes
Narendra Modi
Prime Minister of India speaking about the development and adoption of UPI
“All of you are well aware of the current global situation. The world is passing through a phase of conflicts and uncertainty. There is pressure on energy and commodity supply chains. There is tension regarding trade. This situation has persisted for months now. The April-June quarter has been the most challenging. Even then, when India grows by 7.8 per cent, the world sees a fresh hope.”
businesstoday.in
“I will reiterate that India's reform express will move forward at an even faster pace. Friends, India's fintech story has been remarkable, and one of its biggest champions is our UPI.”
businesstoday.in
Sources
Related news
Modi Says India’s 7.8% Growth Offers Global Hope
Modi Signals Faster Reforms, Highlights India's Fintech Growth and Priorities
Modi Marks UPI’s Decade as India’s Digital Payments Turning Point
Modi Calls for Broader, Safer Fintech Growth Beyond Payments
UPI Turns Ten With 13,000-Fold Growth, Global Expansion
Modi Urges Global UPI Expansion to Cut Remittance Costs
Minister Satya Hails BC Self-Respect and Dharmavaram Development
Centre Approves Rs 20,800 Crore Railway Multitracking Projects
Eknath Shinde Honoured at House of Lords for Governance
Mumbai Crime Branch Takes Over Alleged Fake PMO Card Probe
SCO Urged to Refocus on Central Asia and Core Priorities
