return to news
  1. BIMSTEC summit in Thailand: PM Modi proposes 21-point action plan to boost cooperation

Business News

BIMSTEC summit in Thailand: PM Modi proposes 21-point action plan to boost cooperation

Upstox

3 min read | Updated on April 04, 2025, 17:59 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

At the 6th BIMSTEC Summit in Bangkok, Prime Minister Narendra Modi presented a 21-point action plan to deepen regional cooperation in areas like trade, disaster management, digital infrastructure, energy, and cultural exchange.

Modi-BIMSTEC-Summit.webp

Prime Minister Narendra Modi with fellow BIMSTEC leaders at the Summit being held in Bangkok, Thailand.

Prime Minister Narendra Modi on Friday proposed a comprehensive 21-point action plan at the 6th BIMSTEC Summit in Bangkok, focusing on expanding cooperation across key sectors including trade, disaster management, digital infrastructure, space, and cultural exchange.

Open FREE Demat Account within minutes!
Join now

Calling BIMSTEC “an important forum to further global good,” Modi urged member nations to deepen engagement, boost economic linkages, and enhance collective preparedness against natural calamities.

His remarks came against the backdrop of the recent earthquake that impacted Myanmar and Thailand.

“It’s time to boost business across BIMSTEC nations,” Modi said in a post on X, adding, “Let’s harness the rich potential of the IT sector and make BIMSTEC technologically stronger.”

In his address, the prime minister proposed hosting the first meeting of the newly institutionalised home ministers’ mechanism in India later this year to boost cooperation in combating cyber threats, terrorism, and transnational crimes.

He announced the operationalisation of the BIMSTEC Energy Centre in Bengaluru and proposed accelerating efforts for electric grid interconnection across the region.

PM Modi also suggested linking India’s Unified Payments Interface (UPI) with payment systems of BIMSTEC countries to promote seamless trade and tourism.

He laid emphasis on physical, digital and energy connectivity and proposed setting up a BIMSTEC Chamber of Commerce, an annual business summit, and a study on trade in local currencies.

In maritime cooperation, Modi welcomed the finalisation of the BIMSTEC Maritime Transport Agreement and proposed a Sustainable Maritime Transport Centre in India to support capacity building and policy coordination.

“This Centre will focus on capacity building, research, innovation, and fostering greater coordination in maritime policy. It will also serve as a catalyst for enhancing our cooperation in maritime security across the region,” he said.

Highlighting the need for coordinated disaster response, Modi announced the establishment of a BIMSTEC Centre of Excellence for Disaster Management in India and the hosting of the fourth joint exercise of Disaster Management Authorities later this year.

“This Centre will facilitate cooperation in disaster preparedness, relief, and rehabilitation efforts. Additionally, the fourth joint exercise among the BIMSTEC Disaster Management Authorities will be held in India later this year,” he said.

In a push to youth skilling, Modi launched the BODHI initiative (BIMSTEC for Organized Development of Human Resource Infrastructure), under which 300 youths from BIMSTEC countries will receive annual training in India. Scholarships and training for diplomats will also be expanded.

The prime minister also proposed strengthening cooperation in space, offering support for satellite development, ground station training, and data-sharing.

India will host the first BIMSTEC Traditional Music Festival, the BIMSTEC Young Leaders’ Summit, and the BIMSTEC Athletics Meet later this year. Modi announced that India would host the inaugural BIMSTEC Games in 2027 to mark the grouping’s 30th anniversary.

“Few things connect like culture! May cultural linkages bring BIMSTEC even closer,” Modi wrote on X.

Volatile markets?
Ride the trend with smart tools.
promotion image

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story