India And Oman Explore Collaborative Integration Of UPI & Digital Stacks In Oman
Date
12/18/2023 2:12:09 PM
(MENAFN- KNN India) New Delhi, Dec 18 (KNN)
India and Oman are in talks about leveraging the UPI stack with the potential corresponding digital stack in the Omanis ecosystem, Foreign Secretary Vinay Kwatra informed on Saturday.
"There are also other elements of the Indian stack in terms of the digital infrastructure that can be suitable to Omanis priorities with regard to using now financial inclusion and financial technology payment systems; those are only one element of it but the interface of the UPI with a corresponding Oman platform is something we can talk about," he said.
Both the countries have also discussed the possibility of Rupee trade which is an important element of cooperation, Kwatra informed at the special briefing at the Ministry of External Affairs on the State Visit of the Sultan of Oman.
"Another element of discussion where we would try to move forward is the possibility of Rupee trade which can work between the two countries but this is still at an exploratory stage but can be an important element of cooperation going forward," Kwatra said while responding to ANI question.
Kwatra also talked about the Comprehensive Economic Partnership Agreement (CEPA) and mentioned that the negotiations have started recently, which have made substantial progress in the last few rounds of discussion and both leaders gave strong impetus to conclude it as early as possible.
Kwatra also highlighted the strategic partnership between India and Oman, which is rooted in a long history of cultural ties and has evolved into a comprehensive collaboration spanning political, security, defence, trade, economic, cultural, and people-to-people relations.
"India shares a special relationship with Oman anchored in an old history of contacts between our people today," he said.
Notably, India and Oman are key partners in maritime security in the Western Indian Ocean, reflecting the depth of their cooperation.
The Sultan was received by Union Minister of State (MoS) for External Affairs, V Muraleedharan, as he arrived at the Delhi airport on Friday for a three-day state visit.
(KNN Bureau)
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