Greater trade, investment with BIMSTEC nations key to Viksit Bharat, say industry leaders
New Delhi, October 6
Expanding trade and investment with BIMSTEC countries through more flexible business arrangements will be critical for India to achieve its 'Viksit Bharat' goal, industry leaders said, while calling for greater cooperation with neighbouring countries across sectors including fisheries, artificial intelligence, medical equipment and education.
Speaking on the sidelines of the MIICCIA Conference on Business Opportunities in BIMSTEC Countries in the national capital, Brij K. Guhare, Secretary General, Chamber of Commerce and Industry for Facility Management and SMBB (CCIFMSMB), and Director, MIICCIA, said India needs to deepen economic engagement with its neighbours over the coming decade.
"I believe that in the coming decade, unless we boost trade with our neighbors within a conducive and flexible environment, achieving the goal of a 'Viksit Bharat' will be nearly impossible," Guhare told ANI.
He said BIMSTEC provides an important platform for India to coordinate with countries from South Asia and Southeast Asia and identify areas where trade and business can expand.
"Therefore, BIMSTEC serves as a vital platform for us; it plays a significant role in facilitating coordination among neighboring nations while addressing trade policies and mutual needs," Guhare said.
He also pointed to emerging areas of cooperation with Sri Lanka, saying the country had invited India for engagement in 2027 as the two sides look to build on their strategic partnership.
Guhare said cooperation in the fisheries sector could be an important area given the maritime border between India and Sri Lanka. He also highlighted opportunities in artificial intelligence, medical equipment and educational platforms.
Separately, Anil Trigunayat, President of the Millennial India International Chamber of Commerce, Industry & Agriculture (MIICCIA), said the conference was aimed at connecting Indian businesses with representatives from BIMSTEC member countries and highlighting opportunities available in their respective markets.
"The whole idea is to enhance trade and investment," Trigunayat said, adding that "India is a neighbor that has its neighborhood-first policy to all these countries, and we provide the maximum assistance possible to all our neighbors".
He said the conference provides a platform for ambassadors and diplomats from BIMSTEC countries to explain business opportunities directly to Indian companies, members and partners.
The comments point to a focus on using the BIMSTEC platform to deepen commercial ties with neighbouring economies, with greater trade and investment cooperation emerging as a key area for future engagement.
— ANI
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