Malé, Maldives – India and the Maldives have taken a significant step towards strengthening economic ties by agreeing to introduce India’s Unified Payments Interface (UPI) in the island nation. This move is expected to revolutionize digital payments in the Maldives, particularly benefiting the tourism sector.
The agreement was signed during Indian External Affairs Minister S. Jaishankar‘s recent visit to the Maldives. Jaishankar emphasized the positive impact of UPI on tourism, highlighting its potential to streamline transactions for both tourists and locals.
While this development marks a positive step in bilateral relations, it comes amidst a backdrop of recent tensions between the two countries. However, both nations have expressed a commitment to deepening cooperation.
With the successful implementation of UPI in countries like Sri Lanka, Bhutan, and the UAE, India is steadily expanding its digital payment footprint globally. The introduction of UPI in the Maldives is seen as a strategic move to further India’s economic influence in the region.
This partnership is expected to foster economic growth and enhance the overall travel experience for Indian tourists visiting the Maldives.
