India digital economy
UPI Transactions Soar to Record Rs 27.28 Lakh Crore in October: India's Digital Payment Revolution
Nov 03, 2025 07:25 pm CST
October 2023 witnessed a landmark achievement in India's digital economy as UPI transactions reached an unprecedented Rs 27.28 lakh crore in value and 20.7 billion in volume, driven by festive spending. This represents a 16% year-on-year growth and cements UPI's position as India's dominant payment system, now accounting for 85% of all digital transactions and expanding internationally across seven countries.
India Dominates Global Digital Payments with 50% Market Share, PM Modi Highlights UPI Success at NDTV Summit
Oct 17, 2025 11:28 pm CST
Prime Minister Modi announced at the NDTV World Summit 2025 that India now accounts for 50% of global digital monetary transactions, with UPI payments surpassing Visa in daily volume. The International Monetary Fund has recognized India as the global leader in fast payments, while economic indicators show strong growth with the IMF upgrading India's GDP forecast to 6.6% for 2025/26.