New Delhi: Prime Minister Narendra Modi on Friday highlighted India’s dominance in global digital financial transactions, declaring that the country now accounts for nearly 50 per cent of all digital payments worldwide. Speaking at a high-profile global summit, the Prime Minister underscored the pivotal role of Unified Payments Interface (UPI) in transforming India’s economy into a digital-first powerhouse.
According to estimates, over 19 billion UPI transactions were recorded globally in September 2025 alone, amounting to roughly Rs 24.90 lakh crore. The platform has now overtaken major global networks like Visa in daily transaction volume, handling 640 million transactions per day.
“The UPI system blends technology, accessibility, and trust, and has emerged as the backbone of India’s financial ecosystem. It has made digital payments real-time, simple, and cost-effective,” the Prime Minister said. He noted that while all UPI payments are digital, not all digital transactions run on UPI, with other modes including digital wallets, net banking, and mobile banking apps.
PM Modi traced India’s economic journey over the past 11 years, emphasizing the country’s transformation from one of the “Fragile Five” economies before 2014 to a top-five global economy today.
“Before 2014, India faced policy paralysis, high inflation, and security challenges, along with concerns about women’s safety and terrorist sleeper cells. Today, India has overcome these obstacles. Inflation is under 2 per cent, growth is over 7 per cent, and India has become a confident, self-reliant nation,” he said.
He highlighted several global recognitions, including Standard & Poor’s credit rating upgrade and the International Monetary Fund’s upward revision of India’s GDP growth forecast for 2025-26 from 6.4 per cent to 6.6 per cent, calling them “a reflection of India’s resilience and reform-driven growth.”
The Prime Minister drew a contrast with the previous Congress-led administrations, accusing them of creating a “mountain of NPAs” and restricting access to banking for ordinary citizens. He said, “When we took over, half the population did not even have bank accounts. We democratised banking, opening over 50 crore Jan Dhan accounts in mission mode.”
He also highlighted reforms in the petrol and gas sectors, noting that prior policies limited operating hours to minimize subsidies, whereas today stations operate 24x7, improving accessibility for citizens.
PM Modi also underscored India’s rising stature as an attractive investment destination. He cited Google’s $15 billion AI investment, commitments from European nations totaling $100 billion, and growing export volumes, particularly in agriculture, which reached Rs 4.8 lakh crore last year.
“From electronics to pharmaceuticals, from automobiles to mobile production, India is becoming a nerve centre of the global supply chain. The world now sees India as a reliable, responsible, and resilient partner,” he said.
Framing his speech under the theme “Unstoppable Bharat”, the Prime Minister declared that India is poised to maintain its growth trajectory, overcome global uncertainties, and continue its path of innovation, digital empowerment, and economic inclusion.
“India has converted every risk into reform, reform into resilience, and resilience into resolution. We will neither stop nor pause in our journey. This is the story of an Unstoppable Bharat,” PM Modi concluded.