Union Minister of Commerce and Industry Piyush Goyal launched India’s Unified Payments Interface (UPI) at the Lulu Mall in Doha, marking a new milestone in digital and financial cooperation between India and Qatar. The launch symbolises growing trust across borders and aims to enhance ease of transactions for citizens and businesses in both nations.
Expressing his delight at the occasion, Goyal said, “I’m very delighted at the opportunity to launch UPI and UPI transactions. It is not just a technology solution or a digital payment platform, but one that has the potential to revolutionise trade between Qatar and India. It is a celebration of India’s technology and an opportunity to expand our trust as we seamlessly integrate our payment systems.” He added that the initiative would enable faster, real-time, low-cost movement of money and capital, calling UPI a “symbol of trust across models.”
Launched nine years ago, UPI has become one of India’s biggest digital success stories, accounting for 85 percent of the country’s digital payments and nearly half of global digital transactions. With over 640 billion transactions processed annually, UPI continues to demonstrate India’s leadership in fintech innovation.
Earlier in the day, Goyal co-chaired the India-Qatar Ministerial Joint Commission on Economic and Commercial Cooperation with Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al Thani. Both sides reaffirmed their commitment to deepening bilateral ties, enhancing trade, and pursuing investment goals set during the visit of His Highness the Amir of Qatar to India in February this year.
The Minister also addressed the inaugural session of the India-Qatar Joint Business Council alongside Sheikh Faisal, where he encouraged businesses from both countries to build on their strong strategic and cultural connections. He emphasised that the two robust economies offer significant synergies across sectors, paving the way for shared growth and prosperity.
