7 months ago
India's UPI Aims for Global Expansion
India's digital payment system, called UPI, is growing very fast.
Right now, about 400 million people use it, but the goal is to reach 1 billion users.
UPI is used for half of all global digital payments.
The government is working to make UPI available in more countries, especially in East Asia.
They also talked about how digital payments help small businesses and housewives.
The government has opened many bank accounts for people who didn't have them before, and they are giving loans to small businesses.
They want to make sure that these small businesses can grow bigger.
The government is also working to make digital payments safer and teach people how to use them properly.
UPI has the potential to more than double to 1 billion users from the current 400 million.
India accounts for about 50% of global retail payment transactions, but needs to increase digital transactions per person.
The government is focusing on expanding UPI to East Asia, with current acceptance in eight countries.
UPI transactions crossed 21 billion in December 2025, reflecting deep penetration among consumers and merchants.
The government has leveraged digital infrastructure to extend credit and insurance to underserved groups, with over 563 million Mudra loans sanctioned.
- Who
- Reserve Bank Deputy Governor T Rabi Sankar and Financial Services Secretary M Nagaraju
- What
- Discussed the potential and expansion of UPI and digital payments in India
- Where
- Global Inclusive Finance India Summit in New Delhi
- When
- Tuesday, January 13, 2026
- Why
- To highlight the growth and global ambitions of UPI and digital payments in India
Key facts
- Current UPI Users
- 400 million
- Target UPI Users
- 1 billion
- Global Retail Transactions
- 50% in India
- Digital Transactions Growth
- 41% CAGR from FY 2017-18 to FY 2024-25
- UPI Transaction Volume
- 21 billion in December 2025
- Countries with UPI Acceptance
- Bhutan, Singapore, Qatar, Mauritius, Nepal, UAE, Sri Lanka, France
- PMJDY Accounts
- 530 million, 56% held by women
- Mudra Loans
- 563 million loans worth Rs 38 lakh crore
Quotes
V Anantha Nageswaran
Chief Economic Adviser of India
“We count the number of bank accounts, the number of loans dispersed and the number of mobile wallets activated. But inclusion, properly understood, is not an estimation; it is a journey. The real question is not whether people have entered the financial system, but whether finance is helping them move towards economic independence.”
NDTV
“When an economy is generating jobs, incomes, markets and demand, people do not need to be forced into the financial system. They enter naturally...because they see opportunities, they invest, because the future looks larger than the present.”
NDTV
Sources
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