Netflix reports that the project Operation Safed Sagar contributed over $24 million to the Indian economy

The Global Trade Research Initiative (GTRI) economic analytical center emphasized that India should not be subjected to external pressure regarding its digital payment system. According to GTRI data, Indian payment systems such as UPI and RuPay have significantly increased the level of digital transactions in the country. Therefore, in the center's opinion, changing the existing system to accommodate the interests of foreign companies would be inappropriate.

This statement came amid the passage of a bill in the Lok Sabha that amends the Payment and Settlement Systems Act of 2007. Following this change, the central government will gain the right to determine which electronic payment methods will be subject to fees and which will remain free. Currently, no merchant discount rate (MDR) is charged to customers or merchants for transactions through UPI and RuPay using debit cards. This zero-MDR model has played a key role in accelerating the adoption of digital payments among small vendors, street hawkers, and ordinary consumers.

GTRI's Position Against Levying Fees on UPI

GTRI notes that maintaining the UPI network requires constant expenditure for cybersecurity, server capacity, fraud prevention, and dispute resolution. While a sustainable funding model may be necessary for this, it does not automatically mean introducing an MDR for all merchants. The analytical center suggested considering alternative options, such as budgetary support from the government, introducing limited charges for large commercial operations, or applying fees only to large enterprises.

Questions Regarding UPI and RuPay in the American Report

In its report, GTRI referenced the U.S. Trade Representative's (USTR) National Trade Assessment for 2026. This document criticized both the Indian UPI and RuPay systems and the Brazilian Pix system. The U.S. claims that such domestic digital payment systems do not provide equal opportunities to foreign payment companies. Nevertheless, GTRI believes that India should not make its policy decisions based on U.S. trade complaints.

Significant Presence of American Companies

GTRI also pointed out that the share of American companies in the Indian digital payments market is already quite significant. PhonePe, owned by Google Pay and Walmart, processes over 80 percent of UPI transactions in the country. The center believes that the assertion that foreign companies do not have access to the Indian payment market is incorrect.

Recommendation on Data Localization

GTRI supports India's data localization rules. According to these rules, payment-related data is extremely sensitive and important. Storing such data within India helps regulators in investigating fraud, strengthening cybersecurity, and matters of national security.

GTRI's Advice

GTRI founder Ajay Srivastava stated that the decision to introduce any charges for UPI should be based on the actual costs of the system and its long-term needs, rather than on the complaints or pressure from foreign companies. He is convinced that India must protect the competitiveness, political independence, and long-term stability of its digital payment system, as UPI has become one of the most vital foundations of the country's digital economy.

India is taking significant steps to reduce its dependence on energy resources by launching a new program for extracting crude oil from deep sea depths. This long-term initiative, named 'Samudra Mantran,' aims to find more oil and natural gas beneath the sea.

84,084 crore rupees have been allocated for the implementation of the Offshore Exploration Plan (Samudra Mantran). These funds will be used until the fiscal year 2030-31 and are intended to strengthen India's energy security by stimulating the search for domestic oil and gas in deep-sea areas. The goal is to discover resources in locations where they exist in vast quantities but have not been previously explored.

According to the government, this measure reflects the view of Prime Minister Narendra Modi, which he first stated during his Independence Day speech in 2025. At that time, he spoke about the necessity of conducting a modern 'Samudra Mantran' to demonstrate India's energy potential.

This program has started at a time when India imports about 88-89% of its crude oil and approximately half of its natural gas. This means that the country's growing energy demand relies on foreign suppliers, and geopolitical tensions could negatively affect India's energy supply.

There are many offshore sedimentary basins in India that may contain oil and gas, but many remain untouched due to the complexity and high cost of extraction. Under this program, the government will provide funding for key initial stages, such as large-scale surveys, geological research, drilling, and infrastructure development.

The main objective is to obtain high-quality geological data capable of identifying promising hydrocarbon reserves and assisting in the process of oil and gas extraction. India's move may attract large investments in domestic oil and gas while strengthening the country's energy potential.

Modern technologies will be used to determine the location of areas with a high probability of containing oil and gas. Subsequently, drilling will be conducted in prospective deep and ultra-deep sea zones. The program also covers scientific drilling in border areas, conventional extraction, oil and gas production and services, modern technologies, digital project management, and capacity building.

The government expects this initiative to eventually add over 600 million metric tons of oil to reserves. Although commercial extraction will take several years, successful discoveries could reduce India's dependence on energy imports, strengthen long-term energy security, attract investment, create jobs, and enhance the country's overall energy capabilities.