Indian Prime Minister Narendra Modi has proposed to
create a “SAARC business traveller card” among other far-reaching measures to
integrate the region.
Attending in his maiden SAARC summit, Modi said
India is ready to play a big brother's role and also suggested “special purpose
facility” for infrastructure project.
He also spoke about a vision to create cross-border
industrial corridors and common electricity grids, emphasising greater air,
road and rail connectivity.
“Infrastructure is my greatest priority in India.
And, I also want to set up a Special Purpose Facility in India to finance
infrastructure projects in our region that enhances our connectivity and
trade…India will now give a business visa for three to five years for SAARC.
Let's make it even easier for our businesses through a SAARC business traveller
card,” Modi said.
Hailing Modi’s remarks, the Confederation of Indian
Industry (CII) said his proposals on a SAARC business traveller card, special
purpose facility for financing regional infrastructure, and cross-border industrial
corridors — were “innovative and very pertinent”.
India’s exports to South Asian countries were $17.5 billion in 2013-14, about 5.6 per cent of our total exports. Our imports from these countries reached $2.5 billion in 2013-14, about 0.5 per cent of India’s total imports, said CII.
India’s exports to South Asian countries were $17.5 billion in 2013-14, about 5.6 per cent of our total exports. Our imports from these countries reached $2.5 billion in 2013-14, about 0.5 per cent of India’s total imports, said CII.
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