He said he was happy to share India’s experience in setting up digital public infrastructure (DPI) with BIMSTEC countries.
PM Modi (Photo: ANI)
Giving a global push to India’s Unified Payments Interface (UPI), Prime Minister Narendra Modi proposed linking it with the payment systems of BIMSTEC countries to help trade, business, and tourism in the region.
While speaking at the sixth BIMSTEC Summit, Modi said, “Additionally, I propose linking India’s Unified Payment Interface (UPI) with the payment systems in the BIMSTEC region. This will benefit trade, industry, and tourism at all levels.”
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At the Summit, PM Modi also suggested new steps to increase trade and cooperation among BIMSTEC nations.
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He said he was happy to share India’s experience in setting up digital public infrastructure (DPI) with BIMSTEC countries and suggested conducting a pilot study to understand the specific needs of member nations in this regard.
He proposed setting up a BIMSTEC Chamber of Commerce, organising a yearly business summit, and promoting trade in local currencies. “I also suggest conducting a feasibility study on promoting trade in local currencies within the BIMSTEC region,” he said.
“This forum can play a vital role in the fight against cybercrime, cybersecurity threats, terrorism, and drug and human trafficking. In this regard, I propose to host its first meeting this year in India,” he said.
The BIMSTEC Summit, hosted by Thailand, is attended by leaders from India, Bangladesh, Nepal, Myanmar, Sri Lanka and Bhutan.
The Summit adopted the Bangkok Vision 2030 to realise the shared commitment to prosperity, security, and inclusivity in the Bay of Bengal region.
PM Modi also offered his condolences to Myanmar and Thailand for the damage and loss caused by the earthquake on March 28.
He further proposed a new Centre of Excellence for Disaster Management in India to help BIMSTEC countries work together during natural disasters.
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