In terms of connectivity, Bimstec has at last three major projects that, when finished, could transform the movement of goods and vehicles through the countries in the grouping.
Further, China lays claim to Arunachal Pradesh and therefore dangers of throwing open the North East to exploitation of Chinese economic juggernaut cannot be overemphasized; it would have its own negative strategic connotations.
Similarly, BBIN could prove itself as a regional economic sub-grouping, given the willingness of all the countries in the grouping to cooperate.
However, as of now, India is yet to publicly declare its stand on the project. These industries will need to be transferred to new regions with lower labour costs.
While Delhi and Islamabad were both wary of the move in the mids, it was the inward economic orientation of the Subcontinent that limited possibilities for regional cooperation.
In the absence of a comprehensive and long-term approach for the Bay of Bengal sub-region, countries have been making use of the limited opportunities in their own way. BCIM is also expected to lead to rational allocation of resources with common benefits to the region. This has come about as a result of several meetings Modi had had with Chinese President Xi Jinping after the excruciatingly long military standoff in Doklam between June and August BIMSTEC must now move into a rapid implementation stage, for which the necessary resources should be injected into the Dhaka-based secretariat.
The emphasis on connectivity is largely due to India, which has taken up the cause of connectivity as a mission thanks to Narendra Modi becoming prime minister in However, the rivalry with China notwithstanding, India is now forced by circumstances to feel that it cannot avoid China altogether.
Myanmar is only Southeast Asian country India has a land boundary with.
Anthony Shimray incident where Chinese intelligence agencies were alleged to have been involved in fuelling insurgency by sending a huge consignment of Chinese arms to NSCN IM in the NE; there have also been reports of some Chinese intelligence agents being active there; ISI has also been involved in sending arms.
India should be a proactive player in the forum for its own benefit. The secret behind the waking up is that India, the most important and powerful among the members, is no longer indifferent at times even resentful towards BIMSTEC but wants it to be a platform for the launch of its new and ambitious cross-national connectivity projects to enable it to project its power in the Asian region.
There is also the idea of a China-Nepal corridor in which India would be a partner. China is one of the leading manufacturing countries of the world, while India excels in service sector exports.
Bangladesh is engaged in low-end manufactured goods especially garments and clothing. It also needs to be noted that China had prevented the Asian Development Bank in from giving loans for development projects in Arunachal Pradesh.
Unlike the South China Sea, the Bay of Bengal is a peaceful area in terms of state-to-state relations, with India as the predominant power striving to amicably resolve its differences with its neighbours. The multi-modal corridor will be the first expressway between India and China and will pass through Myanmar and Bangladesh.
But in the absence of any follow up action, the scholarly reports had been only of academic interest. The informal meeting was a welcome move to end the diplomatic estrangement resulting from the standoff at Doklam last year.
Therefore, Bimstec seems an attractive alternative to Saarc. This is despite the fact that enormous commercial benefits especially with reduction of transportation costs might accrue.
Mon, Oct 24 The pact, which was signed last year, is awaiting internal clearances of some members. This is important considering that South Asia is yet to witness the realisation of a free trade area.
These networks would facilitate trade, exchange of energy through oil and gas pipelines, promotion of tourism and increase of communication links leading to what can be termed as a zone of co-prosperity.
Rahul Mishra is a Delhi-based analyst on East Asian affairs. India and Myanmar had signed a framework agreement in for the implementation of this project. Fearing a gang up against it as in SAARC for exampleIndia had been more interested in tying up with other countries on a bilateral basis or in having ties with established and successful organisations like ASEAN.
Firstly, it will lead to industrial transfer boosting industries such as processing, manufacturing and commerce logistics. Curbs on use of Aadhaar data a blow to fintech firms and payment banks New Delhi: A peaceful strategic environment, friendly relations among the countries, largely untapped human resource potential and abundant natural resources make it an attractive sub-regional grouping.
Last weekend, India hosted the heads of state and governments of a regional grouping that brings together most countries in South Asia and some in Southeast Asia in an outreach session with the leaders of the five leading emerging economies or Brics in Goa.
In addition, this subregion has rich reserves of coal, petroleum, and manganese. One of the main reasons for the somnolence was the lack of leadership. Click here to subscribe for full access. Connecting the two greatest markets in Asia under a single platform is expected to help in linking more underdeveloped markets in Asia.
Energy-rich Myanmar can also be brought into the pipeline grid when the hydrocarbon potential of the Bay of Bengal is exploited. The highway will run from Moreh in Manipur to Mae Sot in Thailand via Myanmar and represents a significant step in establishing connectivity between India and Southeast Asian countries.Sep 23, · The Trilateral Maritime Security Cooperation is a remarkable example of BIMSTEC countries recognising the importance of their maritime strategies, after India’s Ministry of External Affairs announced in March that ‘the three countries agreed on a roadmap for cooperation in maritime security’.
The Bangladesh–China–India–Myanmar Forum The ‘Kunming Initiative’ evolved into the BCIM Forum for Regional Cooperation during its first with the objective to create a platform where major stakeholders could meet and discuss issues in the context of promoting economic growth and trade in the BCIM region; identify specific sectors.
While the jury is still out on whether India will be able to translate its vocal interest into tangible political and material investments in BIMSTEC, there is now a clear realization in New Delhi that the “lack of importance given to BIMSTEC has seriously affected our economic and strategic agenda,” in the words of former ambassador.
Jun 03, · India’s Importance for SAARC & BIMSTEC: > In SAARC as well as in BIMSTEC, India’s demographic and economic might is a major factor.
India is a rising economy and can offer large markets for trade, investment, and energy for member states of a shared regional grouping. BIMSTEC and BCIM Initiatives and their Importance for India 3 The evolution of BIMSTEC took place when Bangladesh, India, Sri Lanka, Thailand –.
May 21, · BCIM and BIMSTEC: Two Competing Initiatives for Northeast India?
New Delhi seems to attach increasing importance to the development of the BCIM corridor and has re-emphasised its readiness for closer economic cooperation with Beijing at the sixth India-China Strategic Dialogue in April This indicates a shift in India.Download