As BIMSTEC leaders wound up discussions in Bangkok, Prime Minister Narendra Modi proposed linking India’s Unified Payments Interface (UPI) with the payment systems of BIMSTEC member nations, a move aimed at boosting trade, business, and tourism across the Bay of Bengal region.
“Connecting UPI with regional payment systems will facilitate seamless cross-border transactions, benefiting trade, industry, and tourism at all levels,” Modi said, highlighting the transformative power of digital platforms for the region’s future.
He recommended conducting a pilot study to assess the needs of BIMSTEC countries for Digital Public Infrastructure (DPI), drawing on India’s extensive experience in creating digital solutions.
In his address at the summit, Modi noted, “By sharing our experience, we can help other nations in the region build the digital infrastructure necessary to propel their economies into the future.”
This initiative would help bridge the digital divide and enhance access to services such as healthcare, education, and financial transactions across the region.
Modi also outlined plans to offer scholarships and training through the BODHI (BIMSTEC for Organized Development of Human Resource Infrastructure) program, aimed at skilling youth and professionals in digital technologies, governance, and other critical areas.
“BODHI will empower our youth and foster a culture of innovation that will drive regional prosperity,” he promised.
Security And Disaster Management
Modi proposed a BIMSTEC Centre of Excellence for Disaster Management in India, which would focus on enhancing regional cooperation in disaster preparedness, relief, and rehabilitation.
He said India would host the fourth joint BIMSTEC disaster management exercise later this year, reinforcing the region’s commitment to collective action in times of crisis.
Addressing the region’s growing security concerns, Modi called for the establishment of a Home Ministers’ Mechanism to combat cyber threats, terrorism, and other transnational crimes.
“This forum can play a vital role in addressing common security challenges and strengthening cooperation in law enforcement,” he said.
In the Space Sector, the prime minister talked about setting up ground stations for manpower training for BIMSTEC countries. And also, for use of remote sensing data, design, fabrication and launching of Nano Satellites.
Maritime Security
The BIMSTEC Maritime Transport Agreement was signed to enhance cooperation in shipping, cargo transport, and safety protocols. Modi expressed confidence that this agreement would accelerate trade and improve logistical connectivity across the Bay of Bengal.
Furthermore, India proposed the establishment of a Sustainable Maritime Transport Centre in India to work on enhancing regional coordination in maritime research, policy development, and capacity building.
Expanding Regional Connectivity
The prime minister has proposed the establishment of a BIMSTEC Chamber of Commerce to enhance trade and business links within the region, alongside annual BIMSTEC Business Summits. The creation of this forum is expected to help drive investments and create new opportunities for businesses in the Bay of Bengal area.
He also suggested exploring the feasibility of promoting trade in local currencies across BIMSTEC nations to reduce dependence on foreign currencies and enhance regional trade efficiency. This idea aligns with Modi’s vision of a more integrated regional economy, built on mutual trust and shared prosperity.
People-to-People Engagement
India will host the BIMSTEC Young Leaders’ Summit and BIMSTEC Hackathon later this year, creating platforms for young people to collaborate on regional challenges. Modi also proposed the establishment of the BIMSTEC Traditional Music Festival to celebrate the region’s rich cultural diversity.
India will also host the first BIMSTEC Athletics Meet this year and the inaugural BIMSTEC Games in 2027, marking the 30th anniversary of BIMSTEC.
