India and New Zealand in initial discussion on UPI for ease of doing business
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New Delhi : India and New Zealand are in preliminary discussions on Unified Payments Interface (UPI) to boost ease of doing business. The Ministry of Commerce said that the introduction of UPI in New Zealand is being considered for trade and tourism between the two countries. The two countries are also looking at ways to allow the import of wood logs from New Zealand.
These issues were discussed during a bilateral meeting between Commerce and Industry Minister Piyush Goyal and New Zealand’s Trade and Export Development Minister Damian O’Connor here on Monday. The ministers welcomed the initial discussions between the National Payments Corporation of India (NPCI) and Payments New Zealand regarding the Unified Payments Interface (UPI) system, and agreed that both sides would consider the issue- The discussion should continue.
They agreed that the introduction of UPI in New Zealand would facilitate trade between the two countries and also promote tourism. The United Arab Emirates (UAE), Bhutan and Nepal have already adopted the UPI payment system.
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