Boosting BIMSTEC: Modi's Innovative Proposals for Regional Growth

Prime Minister Narendra Modi proposed initiatives to strengthen the BIMSTEC region, including linking India's UPI with member nations' payment systems and establishing a BIMSTEC Chamber of Commerce. He emphasized disaster management, cybercrime prevention, and maritime security cooperation. A Sustainable Maritime Transport Centre in India was also proposed to boost regional connectivity.

Prime Minister Narendra Modi on Friday pitched bold strategies to energize the BIMSTEC alliance during the sixth summit. By proposing the integration of India's UPI with member countries' payment systems, Modi aims to enhance trade, business, and tourism across the region.

In his address, Modi also suggested forming a BIMSTEC Chamber of Commerce, organizing annual business summits, and exploring the possibility of conducting trade in local currencies. He expressed condolences for Myanmar and Thailand's losses due to a recent earthquake.

Highlighting strategic cooperation, Modi proposed the establishment of both a BIMSTEC Centre of Excellence for Disaster Management and a Sustainable Maritime Transport Centre. The summit, adopting the Bangkok Vision 2030, gathered leaders from across the Bay of Bengal region, emphasizing regional prosperity and security.

(With inputs from agencies.)