Prime Minister Narendra Modi, during the sixth BIMSTEC Summit held in Bangkok, proposed linking India's UPI with the payment systems of BIMSTEC member nations to boost trade, industry, and tourism across the region. He also suggested establishing a BIMSTEC Chamber of Commerce and conducting a feasibility study on promoting trade in local currencies.
In his address, PM Modi expressed condolences for the loss of lives due to the March 28 earthquake in Myanmar and Thailand. He proposed setting up a BIMSTEC Centre of Excellence for Disaster Management in India to enhance collaboration on disaster preparedness and relief.
The summit adopted the 'Bangkok Vision 2030', reaffirming the group's commitment to regional prosperity, security, and inclusivity. Modi emphasized the need to expand BIMSTEC’s scope, including institutionalizing a Home Ministers’ Mechanism, which India offered to host.
Highlighting India's experience in building digital public infrastructure, Modi suggested a pilot study to assess BIMSTEC countries' specific needs. He also proposed holding an annual BIMSTEC Business Summit to enhance economic connectivity.
Modi underlined the importance of maritime cooperation, announcing the establishment of a Sustainable Maritime Transport Centre in India to support research, innovation, and policy coordination. A Maritime Transport Agreement signed at the summit aims to strengthen cooperation in shipping and cargo transport.
The Prime Minister concluded by reiterating BIMSTEC’s role as a bridge between South Asia and Southeast Asia, aiming for enhanced regional connectivity, cooperation, and prosperity.
