Prime Minister Modi's endorsement of UPI promotes seamless, real-time cross-border payments within BRICS nations. This initiative reduces reliance on traditional banking systems and endorses financial independence for member countries. A unified cashless framework strengthens trade ties and boosts regional economic cooperation. UPI adoption increases transparency and combats corruption by digitizing financial transactions. It simplifies international transactions, making trade faster and more cost-effective.
Promoting digital payments enhances financial inclusion, particularly in underserved areas. India's success with UPI serves as a model for modernizing BRICS’ financial systems. It positions India as a global leader in digital innovation, inspiring similar initiatives worldwide.
