Bangkok
Prime Minister Narendra Modi has proposed connecting India’s UPI digital payment system with BIMSTEC countries to boost trade, business, and tourism. He made this announcement while speaking at the sixth BIMSTEC Summit, held in Bangkok.
BIMSTEC includes seven nations: India, Bangladesh, Nepal, Bhutan, Myanmar, Sri Lanka, and Thailand. Modi also suggested setting up a BIMSTEC Chamber of Commerce and holding an annual business summit to increase regional trade. He proposed using local currencies for transactions within the group and called for a study to check its feasibility.
The Prime Minister expressed sorrow for lives lost in the March 28 earthquake that struck Myanmar and Thailand. He suggested forming a BIMSTEC Centre of Excellence for Disaster Management in India to better prepare and respond to natural disasters.
Leaders at the summit adopted the “Bangkok Vision 2030” to support peace, development, and unity in the Bay of Bengal region. Modi welcomed the new Home Ministers’ Mechanism and invited member countries to its first meeting in India, aiming to strengthen cooperation against cybercrime, terrorism, and trafficking.
He offered to share India’s experience with digital public infrastructure and proposed a pilot study to understand what other countries in the region need.
Highlighting regional ties, Modi said BIMSTEC acts as a bridge between South and Southeast Asia. He praised the newly signed Maritime Transport Agreement, saying it would support trade and shipping.
Modi also pushed for a Sustainable Maritime Transport Centre in India, focusing on research, innovation, and joint maritime policies to ensure safety and security in the Indian Ocean.