A deal has been reached for the use of the Unified Payments System, or UPI, in France, according to Prime Minister Narendra Modi, who made the announcement while speaking to a sizable crowd of members of the Indian community in Paris. In his speech, Prime Minister Modi also announced the creation of a new Indian consulate in Marseille and the availability of five-year post-study work visas for Indian students pursuing master’s degrees in France.
Indian students previously received two-year work permits.
In a speech that lasted almost an hour, Prime Minister Modi discussed India’s rapid progress and argued that, even as the world is transitioning to a new order, India’s power and role are also changing rapidly.
“In France, an agreement has been made for the use of India’s UPI. It will be started from the Eiffel Tower in the coming days, and now Indian tourists would be able to make payments in rupees, through UPI, in Eiffel Tower,” the prime minister said.
The quick and secure French online payment platform Lyra and the National Payments Corporation of India (NPCI), the institution that oversees UPI services, inked a memorandum of understanding in 2022. The UPI payment system is already used in the UAE, Bhutan, and Nepal.
UPI and Singapore’s PayNow struck a contract this year that enables users in either nation to conduct cross-border transactions. UPI services are being discussed by NPCI International for expansion into the US, other European nations, and West Asia.
“The last time I came to France, it was decided that Indian students studying in France would be given a 2-year post-study work visas. Now, it has been decided that Indian students pursuing Masters in France will be given long-term post-study visas of 5 years,” PM Modi said in his address.
Talking about India-France ties, PM Modi mentioned French footballer Kylian Mbappe and said that there are more fans of Mbappe in India than in France.
“My attachment to France is quite old, and I can never forget it. Around 40 years ago, a cultural centre of France was started in Ahmedabad, Gujarat, and the first member of that very centre is today talking to you,” PM Modi said.
