The government is working to expand the global footprint of India’s home-grown digital payments platform, Unified Payments Interface (UPI), with a particular focus on East Asian markets, Financial Services Secretary M. Nagaraju said on Tuesday. 

Speaking at the Global Inclusive Finance India Summit in New Delhi, Nagaraju said UPI has already been rolled out in eight countries — Bhutan, Singapore, Qatar, Mauritius, Nepal, the UAE, Sri Lanka and France — enabling Indian travellers to make digital payments overseas using the platform. 

Focus on East Asia 

"India today is about 50% digital in terms of transactions because of UPI. We have expanded to some countries and are now trying to take it to a larger number of countries, especially focusing on East Asia," he said. 

UPI transactions crossed more than 21 billion in December

Nagaraju said UPI transactions crossed more than 21 billion in December 2025, underlining the rapid adoption of digital payments in the country. He attributed the success of UPI and the broader digital payments ecosystem to the significant expansion of the Pradhan Mantri Jan Dhan Yojana (PMJDY), along with a steady rise in average balances in these accounts. 

The Unified Payments Interface, which facilitates real-time peer-to-peer and merchant transactions, is operated by the National Payments Corporation of India (NPCI). NPCI is an umbrella organisation for retail payments and settlement systems in India, promoted by the Reserve Bank of India and the Indian Banks’ Association. 

Growth trajectory of India’s micro-enterprises 

Beyond digital payments, the Financial Services Secretary also highlighted challenges in the growth trajectory of India’s micro-enterprises. He said the transition of micro-units into medium and large enterprises has remained limited despite the presence of several crore such units across the country. 

"The graduation of micro-units into medium and large enterprises is not happening at the desired scale. This will be possible only when micro-enterprises receive adequate support, better market access and productivity gains through technology as well as improved hardware," Nagaraju said. 

The Financial Services Secretary added that strengthening digital infrastructure and financial inclusion would play a critical role in supporting enterprise growth and sustaining India’s broader economic development.