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NRIPage | Articles | PM Modi Proposes UPI Integration, Chamber of Commerce & Maritime Centre at BIMSTEC Summit 2025 | Get AI & Robotics News. Innovating the Future of Technology around the world - NRI Page
Bangkok, April 4 — At the 6th BIMSTEC Summit, Indian Prime Minister Narendra Modi unveiled several bold proposals aimed at enhancing regional cooperation, economic integration, and disaster resilience among the seven member nations of BIMSTEC—India, Bangladesh, Bhutan, Nepal, Myanmar, Sri Lanka, and Thailand.
UPI Integration Across BIMSTEC
In a major push toward financial connectivity, PM Modi proposed linking India’s UPI (Unified Payments Interface) with payment systems of other BIMSTEC countries. This integration would boost seamless cross-border transactions, e-commerce, tourism, and trade in the Bay of Bengal region.
Establishment of BIMSTEC Chamber of Commerce
To further promote business engagement, the Prime Minister suggested forming a BIMSTEC Chamber of Commerce and organizing an annual BIMSTEC Business Summit. He also proposed a feasibility study on trade using local currencies—a step that could reduce reliance on the dollar and improve intra-regional trade efficiency.
Disaster Preparedness & Relief
In light of the recent earthquake in Myanmar and Thailand (March 28), PM Modi offered condolences and proposed a BIMSTEC Centre of Excellence for Disaster Management to be based in India. The centre would focus on preparedness, relief, and rehabilitation collaborations across the region.
Maritime Cooperation & Security
Recognizing the strategic importance of the Indian Ocean, PM Modi emphasized the need for a free, open, and secure maritime space. He welcomed the signing of the Maritime Transport Agreement and proposed setting up a Sustainable Maritime Transport Centre in India, which would focus on:
Capacity building
Policy innovation
Maritime security cooperation
Merchant shipping coordination
Regional Security & Cybercrime
PM Modi highlighted the formation of a Home Ministers Mechanism within BIMSTEC and offered to host its first meeting in India. The forum would tackle issues such as:
Cybersecurity threats
Terrorism
Drug and human trafficking
Digital Public Infrastructure Sharing
India also offered to share its experience with digital public infrastructure (DPI) and conduct a pilot study to assess the unique needs of member states.
Bangkok Vision 2030
The summit concluded with the adoption of the Bangkok Vision 2030, reinforcing BIMSTEC’s commitment to prosperity, security, and inclusive growth in the Bay of Bengal region.
