India Hosts Inaugural BIMSTEC Business Summit in New Delhi

India will host the first BIMSTEC Business Summit in New Delhi from August 6-8. Organized by the Ministry of External Affairs and CII, the event aims to enhance regional trade and investment among BIMSTEC member countries. Key leaders including External Affairs Minister S Jaishankar and Commerce Minister Piyush Goyal will speak.

India is set to host the inaugural BIMSTEC Business Summit in New Delhi from August 6-8. The three-day event is organized by the Ministry of External Affairs (MEA) in association with the Confederation of Indian Industries (CII). External Affairs Minister S Jaishankar will open the Business Summit, while Union Minister of Commerce and Industries Piyush Goyal, along with other dignitaries, will deliver keynote addresses, according to an MEA press release.

The summit will feature participation from several BIMSTEC member state ministers focused on Trade, Commerce, Industry, and Energy, in addition to senior government officials, policymakers, entrepreneurs, and industry representatives. The MEA highlighted that the summit aims to foster enhanced regional cooperation through stronger trade and investment relationships among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC).

The event is projected to gather over 300 significant stakeholders from the Bay of Bengal region, facilitating economic collaboration and exploring progress in key areas such as trade facilitation, regional connectivity, energy security, inclusive growth, and sustainable development. The MEA emphasized that India places great importance on BIMSTEC, linking five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand).

Previously in July, National Security Advisor Ajit Doval led the Indian delegation at the 4th Annual Meeting of the BIMSTEC Security Chiefs in Naypyitaw, Myanmar's capital. The Indian Embassy in Myanmar posted on X, noting that NSA Shri Ajit Doval had met Myanmar NSA Admiral Moe Aung ahead of the meeting and BIMSTEC Security Chiefs later called on Prime Minister Senior General Min Aung Hlaing.