2025-10-07
Launch of UPI at LuLu Hypermarket Marks Milestone in Qatar-India Digital Trade
The launch of the Unified Payment Interface (UPI) at LuLu Hypermarket The Pearl yesterday "is a symbol of India’s digital leadership", stated a top official of LuLu Group, who noted that the platform reflects the growing confidence of Indian businesses operating globally, including in Qatar.
Dr Mohamed Althaf, Global Director of LuLu Group International, made the statement yesterday during the official launch of UPI in Qatar.
Dr Mohamed Althaf, Global Director of LuLu Group International, made the statement yesterday during the official launch of UPI in Qatar.
QNB has enabled LuLu Hypermarket to become Qatar’s first major retail chain to accept UPI transactions across all its stores in the country.
Althaf said: “LuLu is a true testament of the relationship between India and Qatar, as many Indian entrepreneurs have benefitted from the mutual understanding and generosity of the Qatari people.”
He also lauded Piyush Goyal, the Minister of Commerce and Industry of India, who led the launch of UPI, in the presence of senior executives from both QNB and LuLu Hypermarket.
Dr Althaf also expressed optimism for the deeper economic ties, including the possibility of a future free trade agreement (FTA) between Qatar and India. “We don’t want our relations to be just transactional; we also want to have many more Indian companies come to Qatar, take the opportunity, and see that Qatar offers a global platform, including a world-class port and airport, as well as ready infrastructure,” he added.
Goyal, in his first visit to Qatar, emphasised the transformative potential of UPI in strengthening bilateral trade and financial integration: “UPI is not just a technology solution, not just a digital payment solution, but has the potential to revolutionise trade between Qatar and India. It’s the celebration of India’s technology...a symbol of trust across borders.”
The minister noted that UPI now facilitates “85%” of India’s digital payments, with nearly “50%” of global digital transactions routed through the platform.
Althaf said: “LuLu is a true testament of the relationship between India and Qatar, as many Indian entrepreneurs have benefitted from the mutual understanding and generosity of the Qatari people.”
He also lauded Piyush Goyal, the Minister of Commerce and Industry of India, who led the launch of UPI, in the presence of senior executives from both QNB and LuLu Hypermarket.
Dr Althaf also expressed optimism for the deeper economic ties, including the possibility of a future free trade agreement (FTA) between Qatar and India. “We don’t want our relations to be just transactional; we also want to have many more Indian companies come to Qatar, take the opportunity, and see that Qatar offers a global platform, including a world-class port and airport, as well as ready infrastructure,” he added.
Goyal, in his first visit to Qatar, emphasised the transformative potential of UPI in strengthening bilateral trade and financial integration: “UPI is not just a technology solution, not just a digital payment solution, but has the potential to revolutionise trade between Qatar and India. It’s the celebration of India’s technology...a symbol of trust across borders.”
The minister noted that UPI now facilitates “85%” of India’s digital payments, with nearly “50%” of global digital transactions routed through the platform.
Goyal highlighted the alignment between India’s ambition to become a developed nation by 2047 and Qatar’s 2030 national vision, calling for shared prosperity through technological collaboration.
“Our relations are further strengthened with the nearly 830,000 persons of Indian origin who have adopted Qatar as their home. I’m sure they will all benefit immensely with the launch of UPI — their remittances will become faster and at a lower cost,” he added.
“Our relations are further strengthened with the nearly 830,000 persons of Indian origin who have adopted Qatar as their home. I’m sure they will all benefit immensely with the launch of UPI — their remittances will become faster and at a lower cost,” he added.
Source: GULF TIMES