New Delhi, Mar 23 (PTI) There is a need to create dependency regionally rather than relying on global supply chains, be it in energy security, health security or other domains, BIMSTEC Secretary General Indra Mani Pandey has said, according to a statement issued by Assocham on Monday.
Key business chamber Assocham has revitalised the India Secretariat of the BIMSTEC Business Council by launching the leadership of India for the council, it said.
The Associated Chambers of Commerce and Industry of India (Assocham) has reinforced India’s commitment to BIMSTEC, reflecting its strategic vision of strengthening regional cooperation in the Bay of Bengal region as part of its “Neighbourhood First” and “Act East” policies, the statement said.
“We need to create dependency regionally rather than depending on the global supply chains, whether in energy security and health security etc. We can deal with such challenges working together,” the statement quoted Pandey as saying.
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organisation that was established in 1997 with the signing of the Bangkok Declaration.
Its members are Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.
India, as a founding member of BIMSTEC, has consistently played a proactive role in advancing connectivity, trade facilitation, energy cooperation and capacity building among member states, the statement said.
India’s support for institutional strengthening, including the BIMSTEC Secretariat, and its emphasis on inclusive growth, resilient supply chains and sustainable development underscore its long-term commitment to making BIMSTEC a vibrant and effective regional grouping, it said.
In his opening address, Tribhuvan Darbari, India Chair, BIMSTEC Business Council, 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.” Saurabh Sanyal, Secretary General, Assocham, said, “This marks not just an institutional milestone, but a lasting commitment to businesses across seven nations. Our focus is on turning intent into action through robust industry-government collaboration.” Ambassador of Nepal to India Shankar Prasad Sharma, Counsellor (Economic), Royal Bhutanese Embassy, New Delhi, Penday Dorji, among other diplomats, participated in the deliberations. PTI KND DIV DIV
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