India, Spain to fast-track UPI-Bizum interoperability talks

India and Spain have agreed to fast-track discussions on enabling interoperability between India's Unified Payments Interface (UPI) and Spain's Bizum digital payments platform, the Commerce Ministry said on Sunday.

The two countries have also discussed ways to strengthen investment facilitation, improving mobility of professionals and promoting joint investments in Latin America, leveraging Spain's strategic position as India's gateway to Europe and Latin America.

These issues came up for discussion during the recent visit of Commerce and Industry Minister Piyush Goyal to Spain.


"Both sides also agreed to advance technical discussions for interoperability between India's UPI and Spain's Bizum digital payments platform," the ministry said.

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

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.