Fri Apr 04 06:39:31 UTC 2025: **Modi Proposes UPI Integration, Trade Boost at BIMSTEC Summit**
Bangkok, April 4, 2025 – Prime Minister Narendra Modi today proposed a series of initiatives aimed at strengthening the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) grouping. Addressing the sixth BIMSTEC Summit in Bangkok, Modi suggested linking India’s Unified Payments Interface (UPI) with the payment systems of other member nations to facilitate trade, business, and tourism.
Furthering economic cooperation, Modi proposed establishing a BIMSTEC Chamber of Commerce and holding annual business summits. He also suggested exploring the feasibility of promoting trade using local currencies. The summit, hosted by Thailand, was attended by leaders from India, Bangladesh, Nepal, Myanmar, Sri Lanka, and Bhutan.
Beyond economic ties, Modi expressed condolences for the recent earthquake victims in Myanmar and Thailand and proposed establishing a BIMSTEC Centre of Excellence for Disaster Management in India. He also emphasized the importance of regional security, welcoming the institutionalization of a Home Ministers Mechanism and offering to host its first meeting in India to address cybercrime, terrorism, and human trafficking.
Modi highlighted India’s willingness to share its digital public infrastructure (DPI) expertise with BIMSTEC nations, suggesting a pilot study to assess individual member needs. The summit adopted the “Bangkok Vision 2030,” outlining a shared commitment to regional prosperity, security, and inclusivity. A Maritime Transport Agreement was also signed, strengthening cooperation in merchant shipping. Modi further proposed a Sustainable Maritime Transport Centre in India to focus on capacity building and maritime security.
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