Reserve Bank of India (RBI) Governor Sanjay Malhotra has highlighted India’s commitment to international cooperation in digital infrastructure as a cornerstone of inclusive economic growth.
Addressing the high-level dialogue on forging economic resilience through digital public platforms (DPPs) in Washington, D.C. on Tuesday, Malhotra emphasised that DPPs and open & interoperable systems built on modular digital building blocks are not just national assets, but global public goods. “In the spirit of Vasudhaiva Kutumbakam, the world is one family, and we are committed to sharing our model to help countries accelerate digital transformation,” said Malhotra.
About 85% of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure and scalable DPPs, he said.
India’s collaborative efforts span digital identity and payments. The modular open-source identity platform (MOSIP), developed by India, is now being adopted or considered by 27 countries to build secure, scalable national ID systems. Malhotra described MOSIP as a free, customisable tool that enables governments to deliver essential services directly and efficiently.
On digital payments, India is advancing three strategic approaches to cross-border collaboration. First, it is linking the UPI with fast payment systems of other nations, such as the live UPI-PayNow corridor with Singapore. Second, it is enabling cross-border merchant payments via UPI QR codes, already operational in select countries. Third, India is supporting partner nations in deploying UPI-like sovereign payment rails or upgrading existing systems using the UPI technology stack.
“These efforts will promote cross-border trade and payments, improve customer experience, and reduce costs,” said Malhotra, who is positioning India’s digital infrastructure as a catalyst for global financial inclusion and resilience.
The governor’s remarks highlight India’s dual role – a practitioner of inclusive digital transformation as well as a proactive collaborator shaping the global digital public infrastructure landscape.