India aims to address the high cost of remittances and push for reduced charges at the WTO meet. It also seeks to emphasize telemedicine and building a pool of healthcare professionals for pandemics and natural disasters. However, there is a lack of consensus in critical areas such as agriculture, dispute settlement system, and fisheries agreement. India insists on finalizing the plan to rework the cap on procurement spending, while other nations want to defer the decision.
RBI Governor Shaktikanta Das has suggested connecting UPI with Japan’s fast payment system to make cross-border transactions more cost-effective. The move follows the successful linking of UPI with Singapore’s PayNow. Das also highlighted the inflationary challenges in India and RBI’s support for self-regulation by fintech companies.
