Trinidad and Tobago Set to Become First Caribbean Country to Adopt India's UPI

Key facts

• Trinidad and Tobago is pursuing the adoption of India's Unified Payments Interface (UPI), which would make it the first Caribbean nation to use the digital payment technology, as stated by its High Commissioner to India, Chandradath Singh.
• The UPI initiative is being pursued under an agreement between the National Payments Corporation of India International Payments Limited (NIPL) and Trinidad and Tobago's Ministry of Digital Transformation to build a real-time digital payment ecosystem.
• Prime Minister Narendra Modi's recent visit to Trinidad and Tobago resulted in the signing of six Memoranda of Understanding (MoUs) and agreements.
• India and Trinidad and Tobago are marking 64 years of diplomatic relations, and Indian indentured labourers arrived in Trinidad 181 years ago.
• Trinidad and Tobago's energy sector accounts for about 35.7 per cent of its GDP and around 78 per cent of its exports, with gas production of roughly 3.3 billion standard cubic feet per day over the past five years.
• Trinidad and Tobago secured a non-permanent seat on the United Nations Security Council for the 2027-28 term, receiving 181 votes out of 190 in a single round of voting.
• An agreement has been made to establish an Indian Chair on Ayurveda at the University of the West Indies, and India's Pharmacopeia Standards have been recognised by Trinidad and Tobago.