India Leads BIMSTEC Business Council to Unlock $5 Trillion Regional Opportunity

India, a founding member of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), has continued to play a proactive role in enhancing connectivity, trade facilitation, energy cooperation and capacity building among member states. The country has also supported institutional strengthening, including the BIMSTEC Secretariat, while promoting inclusive growth, resilient supply chains and sustainable development.

ASSOCHAM, serving as the India Secretariat of the BIMSTEC Business Council under the Ministry of External Affairs, said it has revitalised its role by launching the leadership framework for India. The industry body aims to drive institutional leadership, mobilise industry participation and advocate policy measures to transform BIMSTEC into a dynamic economic partnership platform.

Speaking at the event, BIMSTEC Business Council India Chair Tribhuvan Darbari said, "BIMSTEC represents a USD 5 trillion opportunity. The time is ripe to unlock this potential through deeper trade integration, stronger supply chains, and seamless connectivity. The real opportunity within BIMSTEC lies in converting policy alignment into business outcomes."

He added that ASSOCHAM will focus on fostering industry-government engagement to help businesses expand across borders and tap opportunities in manufacturing, services and sustainable sectors.

ASSOCHAM President Nirmal K Minda emphasised the organisation's vision of boosting connectivity, empowering MSMEs and unlocking new investment and innovation opportunities across member nations.

Meanwhile, BIMSTEC Secretary General Indra Mani Pandey highlighted the need for stronger regional cooperation, stating, "We need to create dependency regionally rather than depending on the global supply chains, whether in energy security, health security etc. We can deal with such challenges working together."

ASSOCHAM Secretary General Saurabh Sanyal said the initiative reflects a long-term commitment to businesses across member countries and aims to translate intent into action through stronger collaboration between industry and government.

Diplomatic representatives from Nepal, Bhutan, Myanmar, Sri Lanka and Thailand also participated in the discussions, expressing support for ASSOCHAM's initiatives under BIMSTEC.

ASSOCHAM said it will continue to support the formation of a BIMSTEC Chamber of Commerce and Industry and work with partner organisations across member states to advance a roadmap focused on boosting intra-regional trade and investment, improving connectivity, promoting MSME internationalisation and enhancing collaboration in sectors such as fintech, agritech, renewable energy and the blue economy.

- ANI