Prime Minister Narendra Modi on Friday highlighted the rapid growth of India’s Unified Payments Interface (UPI), announcing that it now accounts for 50% of all real-time transactions worldwide. Speaking from the Red Fort on the 79th Independence Day, he said, “Our UPI platform is seen as a marvel by the world today… we have the capability to become self-reliant.”
Since its launch in 2016, UPI has seen explosive growth in both volume and value. In FY25, the platform recorded 18,587 crore transactions worth ₹261 lakh crore, while in July 2025 alone, it processed 1,947 crore transactions.
UPI is operational in seven countries — the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius. Its entry into France marks its first presence in Europe, allowing Indians there to make seamless payments without the usual hurdles of cross-border transactions. UPI is operated by the National Payments Corporation of India (NPCI), an initiative of the RBI and the Indian Banks’ Association, which oversees retail payments and settlement systems in India.
During his address, PM Modi also lauded the PM Mudra Yojana, noting that crores of Indians have benefited by starting small businesses. “Through their small enterprises, they have been able to create jobs,” he said. The scheme offers collateral-free loans of up to ₹20 lakh via Member Lending Institutions to micro and small businesses across manufacturing, trading, services, and allied agricultural activities.
The announcement underscores India’s growing influence in global digital payments and the government’s commitment to supporting entrepreneurship and employment generation.
