Digital Unity for Regional Prosperity: PM Modi Proposes UPI Link to BIMSTEC Nations

Prime Minister Narendra Modi rolled out a revolutionary vision during the sixth BIMSTEC Summit in Bangkok, suggesting the interoperability of India's Unified Payment Interface (UPI) with BIMSTEC countries' payment systems. The endeavor seeks to promote trade, tourism, and economic cooperation betwee...

Prime Minister Narendra Modi rolled out a revolutionary vision during the sixth BIMSTEC Summit in Bangkok, suggesting the interoperability of India's Unified Payment Interface (UPI) with BIMSTEC countries' payment systems. The endeavor seeks to promote trade, tourism, and economic cooperation between member countries, which include India, Bangladesh, Nepal, Bhutan, Sri Lanka, Myanmar, and Thailand. Emphasizing the potential for regional collaboration, PM Modi further suggested creating a BIMSTEC Chamber of Commerce, having business summits on a regular basis, and examining local currency trade. His 21-point action plan further stressed the creation of technological progress and capacity development through projects like the BODHI initiative for training BIMSTEC youths. The summit endorsed the "Bangkok Vision 2030," which emphasizes prosperity and inclusiveness in the Bay of Bengal area. Modi also emphasized disaster management cooperation by suggesting a BIMSTEC Centre of Excellence in India. Moreover, he highlighted sea cooperation with a new agreement for decreasing shipping cost and enhancing connectivity. "BIMSTEC is a bridge between South Asia and Southeast Asia," Modi said, calling for deepening the engagement and leveraging digital infrastructure for growth together. Source: NDTV