India, Spain push UPI–Bizum link to boost cross-border digital payments

Barcelona: India and Spain have agreed to accelerate technical discussions on linking India's Unified Payments Interface (UPI) with Spain's Bizum digital payments platform, marking another step in New Delhi's efforts to expand the global reach of its digital payments ecosystem.The agreement was reached during Commerce and Industry Minister Piyush Goyal's recent visit to Spain, where both countries explored ways to strengthen economic cooperation, increase investment flows and facilitate the movement of skilled professionals. According to the Ministry of Commerce and Industry, officials agreed to fast-track technical discussions to enable interoperability between UPI and Bizum, a move expected to make cross-border digital transactions more seamless for businesses and consumers.Beyond digital payments, India and Spain identified significant opportunities to deepen collaboration across sectors including automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure.During his visit to Brussels, Goyal also raised the issue of listing Indian ship recycling yards and proposed launching an India-European Union dialogue on skills, education and talent mobility.The discussions additionally covered negotiations on the India-EU Investment Protection Agreement and Geographical Indications Agreement, cooperation on the Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, duty derogation for Basmati rice and steel scrap.The minister also met the leadership of KONE and Nokia, urging both companies to expand their manufacturing, research and development, exports and digital infrastructure investments in India.