India to Host First BIMSTEC Business Summit in New Delhi

India is set to host the first BIMSTEC Business Summit in New Delhi from August 6-8. The three-day event is being organized by the Ministry of External Affairs (MEA) in association with the Confederation of Indian Industries (CII).

External Affairs Minister S. Jaishankar will inaugurate the Business Summit, with Union Minister of Commerce and Industry Piyush Goyal and other leaders delivering keynote addresses, according to a press release from the MEA.

The summit will see participation from several Ministers of the BIMSTEC Member States, encompassing areas of Trade, Commerce, Industry, and Energy, along with high-ranking government officials, policymakers, entrepreneurs, and industry associations.

“The first edition of the Business Summit aims to foster greater regional collaboration through robust trade and investment relations among the member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC),” stated the MEA in the press release.

The event will bring together over 300 key stakeholders from across the Bay of Bengal region to facilitate economic collaboration and explore ways ahead in focus areas like trade facilitation, regional connectivity, energy security, inclusive growth, and sustainable development.

The MEA emphasized India’s commitment to BIMSTEC, highlighting its importance as a link between five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two South-East Asian countries (Myanmar and Thailand).

In July, National Security Advisor Ajit Doval led the Indian delegation at the 4th Annual Meeting of the BIMSTEC Security Chiefs held in Myanmar’s capital, Naypyitaw. During the meeting, Doval met with Myanmar’s NSA Admiral Moe Aung and BIMSTEC Security Chiefs called on Prime Minister Senior General Min Aung Hlaing.

The Indian Embassy in Myanmar noted the significance of these meetings in a post on X: “NSA Shri Ajit Doval is leading the Indian delegation at the 4th Annual Meeting of #BIMSTEC Security Chiefs being held in Naypyitaw today. He met with the Myanmar NSA Admiral Moe Aung yesterday, and BIMSTEC Security Chiefs called on Prime Minister Senior General Min Aung Hlaing.”