New Delhi: Prime Minister Narendra Modi proposed a 21-point action plan on Friday, which included linking India’s UPI with the payment system in Bimstec, setting up a chamber of commerce for the region, and a business summit in India, and a business summit in Bangkok’s Thailand capital.
At the summit, the Prime Minister described the group as “an important bridge between South and Southeast Asia.”
The regional group includes seven countries – India, Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka and Thailand. “For us, BIMSTEC is not only a regional organization. It is a model of inclusive development and collective security. It proves our shared commitment and the strength of our solidarity. It embodies the spirit of the Sabka Saath, Sabka Vikas, Sabka Vikas, Sabka Prayas (unity, progress and effort for all),” he said.
Modi, referring to China’s growing confidence in the region opaquely, told the group that “a free, open, safe and secure Indian Ocean is our common priority” and that the maritime transport agreement reached at the Sixth Summit will strengthen cooperation in merchant ship transport and freight transport, thus bringing a significant boost to trade across the region.
The Prime Minister said India’s sustainable maritime transport center “will focus on capacity building, research, innovation and promoting greater coordination of maritime policies and is also a catalyst for strengthening our maritime security cooperation throughout the region”.
Modi pointed out that the Home Secretary’s mechanism in the grouping is “institutionalization”, and Modi said: “This forum can play an important role in the fight against cybercrime, cybersecurity threats, terrorism, drug trafficking and human trafficking. In this regard, I suggest that India hold the first meeting of the mechanism later this year.”
The Prime Minister stressed that India’s digital public infrastructure (DPI) has revolutionized the delivery of public services and accelerated financial inclusion, and the Prime Minister “proposed the establishment of connectivity between India’s unified payment interface (UPI) and the payment systems of BIMSTEC member states” and recommended a feasibility study “exploring feasibility studies within BimStec”.
“This convergence will bring considerable huge benefits in trade, industry and tourism, thereby enhancing economic activity at all levels,” Modi asserted.
In his speech, the Prime Minister said: “For regional development, physical connectivity must be on par with digital and energy connectivity. I am pleased to note that the Bengaluru-based Bimstec Energy Centre has begun its operations. I would like to recommend that our team accelerate efforts to achieve grid interconnection across the region.”
Modi pointed out that trade and business connections are equally crucial to our collective progress, and Modi suggested establishing a Bimstec Chamber and holding the annual BIMSTEC Business Summit to promote greater economic participation.
The earthquake Modi refers to has damaged Myanmar and affected Thailand, and while natural disasters may be inevitable, our ability to prepare and respond quickly remains unwavering. He then proposed the establishment of the Bimstec Disaster Management Centre for Excellence in India.
“In the crisis, India has been his friend as the first responder,” Modi told the group, “We think that in the wake of the devastating earthquake, we think it is an honor to be able to help the Burmese people in time.”
Modi called public health “an important pillar of our collective social development” and “I am pleased to announce that India will expand support for training and capacity-building across the country’s cancer care across Bimster Province. In line with our holistic health approach, a centre of excellence will also be established to promote the research and dissemination of traditional medicine.”
The Prime Minister also proposed to establish a centre of excellence in India, focusing on research collaboration and capacity building in the agricultural sector, establishing a human training, developing and launching ground stations for nano-satellites, and using remotely perceived data for the Bimstrek country.
To enhance youth skills in the region, Modi added: “We are launching the proactive Bodhi (Bimstec (Bimstec) organizing human resources infrastructure). Under the program, 300 young people from Bimstec member states will be trained in India every year. Bimstec students from the Indian Forestry Institute will provide scholarships to Bimstec students in the scholarship programs in Nalanda and Nalanda.
Modi said in the cultural aspect: “Our shared cultural heritage is our lasting connection.
Modi added: “To have a greater exchange between our youth, the Summit of the Young Leaders of Bimstek will be held later this year. We will also launch the Bimstec Hackathon and the Young Professional Visitor Program to encourage innovation and collaboration. In the field of sports, India recommends hosting the Bimstec Attornics vs. Bimstec competition in Bimstec track and field and hosting BimStec on BimStec in the first Bimstec game.
The Bimstec Summit, chaired by Thailand, was chaired by the Regional Group Chairman “Bimstec: Bimstec: Prosperity, Resilience and Openness”, and also adopted the Bimstec Declaration and the Bimstec Bangkok Vision 2030 document, which provides a roadmap for collective prosperity in the region. ”
The Bimstec outstanding group constitutes the recommendations for Bimstec.
