QRIS to Expand to India, Prabowo Announces

Indonesia’s QRIS payment system will soon be usable in India, following a bilateral cooperation agreement between the two nations. President Prabowo Subianto stated that both countries are committed to enhancing bilateral trade, including accelerating discussions on the Indonesia-India Trade Agreement and reviewing the ASEAN-India Trade in Goods Agreement. “To strengthen financial sector cooperation, we welcome the progress of discussions on a cross-border QR payment system between Indonesia and India,” Prabowo said during a joint press statement with Indian Prime Minister Narendra Modi. He added that the implementation is expected to increase financial transaction efficiency and strengthen financial sector connectivity between the two countries. QRIS is already in use in Thailand, Malaysia, Singapore, Japan, South Korea, and China. Its expansion into India will potentially broaden the reach of digital transactions to one of the world’s largest populations. Beyond finance, the two countries are also expanding cooperation in the energy sector, including the development of solar power plant projects, technology exchange, and capacity building in the nuclear field.