By Aashish Tripathi
India and Nepal share deep-rooted historical, cultural, and economic ties. In recent years, the two countries have strengthened their relationship through various avenues, including trade, technology, and tourism. One notable aspect of this partnership is India’s assistance in implementing the Unified Payments Interface (UPI) in Nepal, along with collaborative efforts to boost tourism and economic cooperation. In this article, we explore how India’s support with UPI and tourism initiatives is fostering closer bilateral relations between the two nations.
Unified Payments Interface (UPI) Assistance: India’s UPI, a real-time payment system that facilitates instant money transfers between bank accounts via mobile devices, has revolutionized the digital payments landscape. Recognizing the potential benefits of UPI for Nepal, India has extended its support to help implement a similar system in the country. This assistance includes technical expertise, knowledge sharing, and capacity building to enable Nepal to develop its version of UPI tailored to its specific needs.
Growth of UPI Transactions in Nepal: The steady growth of UPI transactions in Nepal since its introduction highlights the increasing adoption of digital payments and the positive impact of India’s assistance in modernizing Nepal’s financial infrastructure.
Source: Nepal Rastra Bank, Researched by Annapurna Digital Marketing
Tourism Collaboration: Tourism is a key pillar of the Nepal-India relationship, with millions of Indian tourists visiting Nepal each year to explore its natural beauty, cultural heritage, and adventure activities. India has been actively supporting Nepal’s tourism sector through various initiatives aimed at promoting bilateral tourism exchanges, enhancing connectivity, and facilitating travel between the two countries.
Tourist Arrivals from India to Nepal (2019-2024): The graph illustrates a steady rise in tourist arrivals from India to Nepal over the past several years. Each year, an increasing number of Indian travellers cross the border to experience the beauty and hospitality that Nepal has to offer, contributing to the country’s tourism sector and fostering closer people-to-people ties between India and Nepal.
The increasing trend of tourist arrivals from India to Nepal over the past five years showcases the growing popularity of Nepal as a travel destination among Indian tourists and the positive outcomes of bilateral tourism cooperation efforts.
Data Source: Ministry of Culture, Tourism and Civil Aviation of Nepal
Economic Cooperation and Beyond: Beyond UPI and tourism, India’s assistance extends to various other sectors, including infrastructure development, capacity building, and people-to-people exchanges. Through joint projects and collaborations, India and Nepal are working together to address common challenges, promote economic growth, and enhance mutual prosperity.
Conclusion: India’s support of UPI implementation and tourism initiatives in Nepal underscores the depth and significance of the bilateral relationship between the two countries. By leveraging technology and fostering closer economic ties, India and Nepal are paving the way for greater collaboration and shared prosperity. As the partnership continues to evolve, the future looks promising for further strengthening Nepal-India relations across multiple fronts.
Aashish Tripathi : Working Digital Marketing, Market Research, Brand Marketing, and Social Media Marketing in Nepal.
