Dutch PM Rutte explores UPI, talks semiconductors during Bengaluru visit

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Dutch PM Rutte explores UPI, talks semiconductors during Bengaluru visit

Dutch PM Rutte explores UPI, talks semiconductors during Bengaluru visit

Industry News
Sep 13,23

Rutte disclosed the success of his meetings with Deputy Chief Minister D K Shivakumar, highlighting discussions with both central and state governments on potential avenues for expanding the semiconductor industry in Bengaluru.

Dutch PM Rutte explores UPI, talks semiconductors during Bengaluru visit

Rutte, who journeyed to Bengaluru accompanied by a business delegation following his participation in the G20 Summit held in New Delhi, also expressed his keen interest in engaging with India to gain a deeper understanding of its rapid payment system, the Unified Payments Interface (UPI).

This is undeniably a topic under discussion, not so much in terms of establishing a direct connection, but rather to gain a more comprehensive understanding of India's initiatives. There are numerous considerations surrounding aspects like privacy, the banking system, and its implications for currency stability. Therefore, we need to carefully navigate through these issues. Nonetheless, this is an advancement that we must take seriously, Rutte conveyed to reporters during a public event on Church Street.

India leveraged the G20 platform to showcase its digital public infrastructure, including Aadhaar and UPI, to other nations.

Rutte also acknowledged that the New Delhi Declaration, which conspicuously omitted references to Russia and exhibited a significantly toned-down stance on the Ukraine conflict compared to the Bali Declaration, represented a compromise but a necessary one. “It was a compromise clearly, and that is always the case when you come together with multilateral teams like the G20. But I was happy with the fact that there were some key elements in the declaration that were very important," he remarked. He humorously added, "But obviously if I were to have written it myself, it would have been written differently.”

Additionally, Rutte disclosed the success of his meetings with Deputy Chief Minister D K Shivakumar, highlighting discussions with both central and state governments on potential avenues for expanding the semiconductor industry in Bengaluru. He noted the presence of Dutch company NXP, one of the world's largest semiconductor firms, and successful Indian companies like Wipro with a footprint in the Netherlands. While NXP maintains research and development facilities in India, it currently lacks a semiconductor manufacturing facility in the country.

Source: deccanherald.com