India is having discussions with New Zealand for introduction of the Unified Payment Interface (UPI) system to promote ease of doing business, trade and tourism, a commerce ministry statement said on Tuesday.
The issue was taken up at the meeting between commerce and industry minister Piyush Goyal and New Zealand minister of trade and export growth Damien O’Connor.
Both ministers welcomed early discussions between the National Payments Corporation of India (NPCI) and Payments NZ and agreed to hold more talks, the statement said. They also discussed ways to allow import of wooden logs from New Zealand.
India has been talking to various countries to expand the network of its digital payment systems such as UPI and Rupay. Singapore, the UAE, France, the UK, Saudi Arabia, Bahrain, Maldives, Bhutan and Oman are among the countries where Indians can pay using UPI.
The ministers welcomed the recent commencement of export of Indian mangoes to New Zealand as well as the progress being made by New Zealand regarding India’s request for allowing two additional vapour heat treatment facilities in India for export of mangoes. These facilities will reduce costs for Indian exporters. Some countries which allow imports of horticulture products from India require that the testing be done in their jurisdictions.
The two sides also discussed possible innovative technical collaboration in the field of agriculture and horticulture.
“Ministers acknowledged the desirability of improving air connectivity between New Zealand and India, and welcomed finalisation of the memorandum of understanding to further liberalise the bilateral air services agreement,” the statement said.
Bilateral trade stood at a little over $1 billion in 2022-23. India’s exports to New Zealand were $548 million.