India, Spain to fast-track UPI-Bizum payment integration talks

India and Spain have agreed to step up 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 footprint of its digital payment ecosystem.

The agreement was reached during Commerce and Industry Minister Piyush Goyal's recent visit to Spain, where both sides also explored ways to deepen economic cooperation, boost investment flows and improve the movement of skilled professionals between the two countries.

According to the Commerce Ministry, officials agreed to fast-track technical discussions aimed at enabling interoperability between the two payment systems, a move that could make cross-border digital transactions smoother for businesses and consumers.

Trade, investment and mobility in focus

The two sides have also identified significant opportunities in automobiles, pharmaceuticals, chemicals, textiles, renewable energy, tourism and infrastructure.

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During his visit to Brussels, he raised the issue of the listing of Indian ship recycling yards.

He also proposed launching an India-EU dialogue on skills, education and talent mobility.

”Discussions covered negotiations on the Investment Protection Agreement and Geographical Indications Agreement, cooperation on Carbon Border Adjustment Mechanism (CBAM), regulatory simplification, market access for agricultural products, duty derogation on Basmati rice, steel scrap,” it said.

The minister also held discussions with the leadership of KONE and Nokia, encouraging both companies to significantly expand manufacturing, research and development, exports and digital infrastructure investments in India.

With inputs from agencies