India-Vietnam to Link Digital Payment Systems for Instant Cross-Border Transfers
17:14 06.05.2026 (Updated: 17:47 06.05.2026)
© AP Photo / Manish Swarup
Subscribe
Prime Minister Narendra Modi held high-level talks with Vietnamese President To Lam in New Delhi on Wednesday at Hyderabad House to strengthen bilateral cooperation.
During the discussions, India and Vietnam signed a series of agreements across multiple sectors, including digital technology, cultural exchange, health regulation, education, tourism, and public-sector collaboration.
Modi highlighted that India will closely collaborate with Vietnam on critical minerals, rare earth elements, and energy cooperation—areas increasingly central to both countries’ strategic and industrial ambitions. He stressed that reinforcing defense and security cooperation will contribute to a rules-based regional order, promoting peace, stability, and shared prosperity.
🚨🇮🇳🇻🇳 PM Modi just dropped a series of announcements in an 8+ minute joint press meet with the President of Vietnam
— Sputnik India (@Sputnik_India) May 6, 2026
Bilateral trade has doubled to $16B in the last decade.
MoU signed for easier access of Indian medicines + smoother exports of agri, fisheries & animal products.…
According to Indian Foreign Ministry spokesperson Randhir Jaiswal, both leaders exchanged views on advancing their “multifaceted, comprehensive strategic partnership.” He added that President To Lam expressed a strong interest in holding substantive formal discussions with Modi to further deepen bilateral ties.
The Prime Minister also announced a plan to strengthen financial integration between the two countries by enhancing cooperation between their central banks. India’s UPI digital payments platform will soon be linked to Vietnam’s Fast Payment System, enabling seamless cross-border digital transactions and expanding fintech cooperation.
🚨🇮🇳🇻🇳 GAME CHANGER: India’s UPI to link with Vietnam’s Fast Payment System soon, PM Modi announces https://t.co/K3XcciV86l pic.twitter.com/3QNqm9Mwrt
— Sputnik India (@Sputnik_India) May 6, 2026
Earlier in the day, President Lam received a ceremonial welcome at Rashtrapati Bhavan, where he was welcomed by Indian President Droupadi Murmu and Prime Minister Modi. The ceremony underscored the growing strategic convergence between India and Vietnam in the Indo-Pacific region.
