6th BIMSTEC Summit

Context:

Prime Minister Narendra Modi recently visited Thailand to attend the 6th BIMSTEC Summit, marking the first in-person meeting of BIMSTEC leaders since the 2018 Kathmandu Summit. The last summit, held virtually in Colombo (2022), formalized BIMSTEC’s institutional structure with the adoption of its charter. The theme for the 6th Summit is “Prosperous, Resilient, and Open BIMSTEC (PRO BIMSTEC),” reflecting the region’s focus on economic integration, security, and connectivity.

Significance of BIMSTEC

The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional grouping that fosters economic and strategic collaboration among nations bordering the Bay of Bengal.
Originally formed as BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation) in 1997, it expanded with Myanmar (1997), Nepal, and Bhutan (2004) to become BIMSTEC.
BIMSTEC, home to 1.8 billion people (22% of the global population) with a combined GDP of $3.6 trillion, serves as a bridge between South Asia and Southeast Asia. Unlike SAARC, which has been stagnated due to Indo-Pak tensions, BIMSTEC provides a more pragmatic platform for regional cooperation in trade, connectivity, and security.

India’s Role and Strategic Interests

India prioritizes BIMSTEC under its Neighbourhood First and Act East policies. Following the 2016 SAARC deadlock, India shifted focus towards BIMSTEC, hosting a special outreach summit alongside the BRICS Summit (Goa, 2016).

India follows the 4S approach in BIMSTEC:

Samman (Respect)
Samvad (Dialogue)
Shanti (Peace)
Samriddhi (Prosperity)

Key Proposals at the 6th BIMSTEC Summit (2024)

1. Economic and Digital Connectivity

Establishing a BIMSTEC Chamber of Commerce and an annual Business Summit.
Linking India’s UPI with BIMSTEC payment systems.
Promoting trade in local currencies to reduce reliance on external economies.

2. Maritime and Transport Cooperation

Establishing a Sustainable Maritime Transport Centre for policy coordination.
Strengthening regional electricity grid interconnection to enhance energy security.

3. Disaster Management and Climate Resilience

Setting up a BIMSTEC Centre of Excellence for Disaster Management in India.
Hosting the 4th Joint Disaster Management Exercise in 2024.

4. Education, Health, and Skill Development

Launching the BODHI (BIMSTEC for Organised Development of Human Resource Infrastructure) initiative to train 300 youth annually from BIMSTEC nations.
Expanding scholarships at Nalanda University and the Forest Research Institute.
Establishing centers of excellence in agriculture, traditional medicine, and cancer care.

5. Space and Technology Cooperation

Setting up a BIMSTEC ground station for satellite-based research and training.
Encouraging nano-satellite development and remote sensing collaboration.

6. Cultural and Sports Exchanges

Hosting the BIMSTEC Traditional Music Festival and Young Leaders’ Summit.
Organizing the BIMSTEC Athletics Meet (2024) and the first BIMSTEC Games (2027).

Conclusion

BIMSTEC is evolving into a key regional organization, enhancing economic, security, and cultural ties. With India’s proactive leadership, BIMSTEC can become a pillar of stability and prosperity in the Indo-Pacific. If institutional challenges are effectively addressed, BIMSTEC has the potential to serve as a model for regional integration in the 21st century.