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India’s Unified Payments Interface (UPI) service has now been launched in Greece, Union Commerce and Industry Minister Piyush Goyal announced on Tuesday. This enables quick, secure and convenient money transfers to eligible customers. Moreover, transaction costs will be significantly lower compared to conventional methods.

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A symbol of faith and confidence

Piyush Goyal wrote on social media platform ‘X’ that UPI’s global acceptance and appreciation is a symbol of the world’s trust and confidence in Prime Minister Narendra Modi’s vision for technology-based solutions. He said these measures are creating value across borders and strengthening global partnerships for shared development and prosperity.

Encourage Greeks to invest in India

During his visit to Greece, Piyush Goyal met Eurobank CEO Fokion Karavias and discussed strengthening India-Greece economic partnership. “We encouraged Greek companies to invest in India and discussed the possibilities of cooperation in areas like manufacturing and infrastructure development in Greece,” Goyal said.

As part of the partnership between Eurobank and NIPL, the Union Minister also witnessed a live demonstration of the UPI service at Eurobank’s headquarters in Athens. Eurobank CEO Fokion Karavias and Fairfax Digital Services CEO Sanjay Tuganite were also present on this occasion.

The minister noted that this is another important step in the global expansion of India’s digital payment system. Earlier, Piyush Goyal addressed the India-Greece Business Forum along with Greek Deputy Foreign Minister Harry Theoharis. He also met the members of Indian origin present at the event.

Significant investment, trade opportunities for Greece

In his speech, Piyush Goyal highlighted India’s strong economic growth, stable macroeconomic conditions and sustained economic progress, saying that this provides significant investment and trade opportunities for Greece. He also said that the Indo-European Union Free Trade Agreement could create new opportunities for trade, investment and economic cooperation.

The Union Minister emphasized the enormous potential for cooperation between the two countries in several key areas. He appealed to Greek industrialists and investors to engage in co-production, co-investment and partnership with India. He said this would give a new impetus to investment, trade relations and shared prosperity between the two countries.

Payment through UPI has been made available in countries like Greece, United Arab Emirates UAE, France, Singapore, Sri Lanka, Mauritius, Nepal, Bhutan, Maldives, United Kingdom.

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