India pushes payment-system integration in free trade agreements

India is seeking to integrate its payment systems with those of trading partners through new free trade agreements, according to reports citing the Commerce Secretary. The strategy aims to make cross-border payments faster and significantly cheaper for users.

The Unified Payments Interface, India's digital public infrastructure, is central to this expansion. India's diaspora remittances are a major focus area for cost reduction. The nation is leveraging its fintech expertise to export digital financial services globally through these bilateral trade pacts.