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UPI, India's epic odyssey continues

India is aggressively expanding its Unified Payments Interface (UPI) globally, with Greece the tenth adopter. This initiative primarily reduces remittance costs for India, a major recipient. UPI offers instantaneous, transparent settlements, eliminating hidden markups and bypassing expensive SWIFT intermediaries. It enables local currency settlements, circumventing the dollar. India leverages its first-mover advantage and vast network scale, conserving foreign exchange and enhancing soft power. The government actively promotes UPI's globalization for its significant economic and strategic benefits, showcasing India's technological prowess.

Economic Times · ET Bureau · Jul 1, 2026 at 7:56 PM

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