New Delhi, August 26: On the occasion of the 10th anniversary of the Unified Payments Interface (UPI), BJP leader Gaurav Vallabh praised India’s digital payment system. He highlighted that over the past decade, UPI has not only transformed transaction methods in the country but has also played a crucial role in strengthening the digital economy. During his address, he referenced initial skepticism surrounding UPI and criticized Congress leaders for their doubts.
Vallabh noted that when UPI was launched, many questions arose. Former Finance Minister P. Chidambaram had raised concerns in Parliament about small vendors and vegetable sellers accepting digital payments. Today, UPI has surpassed all those fears, becoming a payment method for everyone from small shopkeepers to large businesses. UPI accounts for nearly 49% of the global real-time payment systems. In July 2026 alone, UPI facilitated around 2,400 crore transactions. In the fiscal year 2016-17, there were about 2 crore transactions through UPI, a figure that has now surged to 24,162 crore. Vallabh attributed this success to the resolve of the Indian people, the achievements of Digital India, and the policies of the central government.
The BJP leader emphasized that UPI is no longer limited to India. It is now used for transactions in over 30 countries worldwide. The impact of India’s technological capabilities and inclusive financial system is now visible on a global scale. Small traders, retailers, and ordinary citizens are easily making payments through their mobile phones. UPI has made large-scale transactions possible while ensuring ease and security. Today, UPI symbolizes scalability, accessibility, and the safety of financial transactions.
Vallabh also addressed Congress leader Rahul Gandhi’s claim of the Indian economy being a “dead economy.” He stated that while India is among the fastest-growing major economies, some opposition leaders continue to make negative remarks about the Indian economy. He predicted that India’s economic growth rate for the fiscal year 2027 is expected to exceed 6.5%, with further improvements likely by the end of the fiscal year. While many economies globally face recession and economic challenges, he described India as a “shining star” in the global economy.
Additionally, Vallabh mentioned the rapidly growing manufacturing sector in India. He stated that India has established itself as a major mobile manufacturing hub. Production capabilities are being enhanced, from semiconductor chips to shipbuilding. The Indian economy is expanding into new sectors, setting new records in various fields from the blue economy to the orange economy. He also highlighted the importance of IT-enabled and AI-enabled services for the development of the Indian service sector.
In response to Congress General Secretary Priyanka Gandhi’s comments on unemployment and the economy, Vallabh advised Congress leadership to consult experts before making statements on economic issues. He suggested that Gandhi and Congress President Mallikarjun Kharge should invite an economic expert to understand the current economic conditions and data before making public statements. Without grasping the facts on economic issues, Congress leaders risk raising questions among the public regarding their comments.
Vallabh linked UPI’s achievements to India’s technological capabilities, digital transformation, and financial inclusion, stating that digital payments have significantly changed the lives of ordinary people over the past decade. The digital payment system, once met with skepticism, has now become a hallmark of India’s digital economy.
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