ASSOCHAM Unveils Leadership for BIMSTEC Business Council

ASSOCHAM announced India's leadership for the BIMSTEC Business Council, reaffirming its commitment to regional economic cooperation in the Bay of Bengal. The initiative focuses on enhanced connectivity, trade, and sustainable growth, unlocking a USD 5 trillion potential in the region through industry-government collaboration and regional integration.

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has unveiled India's leadership for the BIMSTEC Business Council, signaling a renewed commitment to enhancing regional economic cooperation in the Bay of Bengal area as BIMSTEC reaches its 30-year landmark.

India, a key founding nation of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), has consistently advocated for improved connectivity, trade facilitation, energy cooperation, and capacity building among member states. ASSOCHAM is now focusing on revitalizing its role by fostering industry participation and advocating for policy measures to transform BIMSTEC into a dynamic economic partnership platform.

Tribhuvan Darbari, Chair of the BIMSTEC Business Council in India, underscored the massive economic potential within the BIMSTEC region, describing it as a USD 5 trillion opportunity ripe for exploration. The emphasis will be on stimulating deeper trade integration, robust supply chains, and seamless connectivity to leverage this potential.

(With inputs from agencies.)