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INDIAN TOURISTS CAN PAY IN RUPEE IN FRANCE

by Koushik Gope
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Indian tourists will soon be able to pay in rupees when visiting France, thanks to an agreement between the two countries. The agreement, which was announced by Prime Minister Narendra Modi during his visit to France in July 2023, will allow Indian tourists to use the Unified Payments Interface (UPI) to make payments at merchants in France.

UPI is a real-time payment system developed by the National Payments Corporation of India (NPCI). It allows users to make payments to merchants and individuals using their mobile phones. The system is already widely used in India, and it is expected to be a convenient and popular option for Indian tourists in France.

The agreement between India and France is a significant step in the development of UPI as a global payment system. It is the first time that UPI has been used outside of India, and it is expected to pave the way for other countries to adopt the system.

The agreement is also a boost for the Indian economy. It is estimated that Indian tourists spend around $10 billion annually in France. The ability to pay in rupees will make it easier for Indian tourists to shop and spend money in France, which will benefit the French economy.

The agreement between India and France is a win-win for both countries. It will make it easier for Indian tourists to travel to France, and it will boost the French economy. It is also a sign of the growing economic ties between India and France.

Benefits of the Agreement

There are several benefits to the agreement between India and France to allow Indian tourists to pay in rupees. These benefits include:

  • Convenience: It will be more convenient for Indian tourists to pay in rupees, as they will not have to exchange their currency for euros.
  • Cost savings: Indian tourists may be able to save money by paying in rupees, as the exchange rate between the rupee and the euro can be volatile.
  • Increased spending: Indian tourists may be more likely to spend money in France if they can pay in rupees, as they will not have to worry about carrying large amounts of euros.
  • Boost to the French economy: The agreement is expected to boost the French economy, as Indian tourists will be more likely to spend money in France if they can pay in rupees.

Implementation of the Agreement

The agreement between India and France is expected to be implemented in the coming months. The NPCI will work with French banks and merchants to enable UPI payments in France. Once the system is in place, Indian tourists will be able to use their UPI-enabled mobile phones to make payments at merchants in France.

The implementation of the agreement is a significant step in the development of UPI as a global payment system. It is the first time that UPI has been used outside of India, and it is expected to pave the way for other countries to adopt the system.

The agreement is also a boost for the Indian economy. It is estimated that Indian tourists spend around $10 billion annually in France. The ability to pay in rupees will make it easier for Indian tourists to shop and spend money in France, which will benefit the French economy.

The agreement between India and France is a win-win for both countries. It will make it easier for Indian tourists to travel to France, and it will boost the French economy. It is also a sign of the growing economic ties between India and France.

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