BIMSTEC

India has established relationships and contacts with BIMSTEC member countries, signed the BIMSTEC Agreement, and India has the opportunity to revitalize past contacts with past partners. At the 2 nd BIMSTEC Summit in New Delhi, the then Prime Minister of India said that the 21st century belongs to Asia and Asia is the driving force for world economic growth. BIMSTEC is an important part of the wider Asian community. It has the potential to play an important role in the communities of Asian countries connected by people, capital, ideas and things, free flowing effective road, rail, air, shipping services.

Exports to the world of India have quadrupled between 2006 and 2012. During the period above, exports to India's BIMSTEC member countries have increased five-fold. As shown in Table 1, exports to India's BIMSTEC member countries excluding Slimka increased. In terms of economic scale, India's total exports to BIMSTEC member countries are estimated to be rather low. Exports to India 's Bimestec countries increased by a factor of 5, but the proportion of Bimstech to Indian exports has not increased proportionately. It was a slight increase of 0.20% from 2006 to 2012.

Table 2 shows the share of domestic trade in BIMSTEC in 2011 as a percentage of total trade. Of the BIMSTEC member countries, India has the largest export to Nepal (97.46%) and Myanmar has the smallest export (14%). As shown in the table, in 2011, India imported less than 10% of its products from BIMTEC countries except Thailand (78%). A broader view of the bilateral trade share from the table shows that India and Thailand are the main destinations of trade in other member countries. Although the domestic trade share of BIMSTEC in these two countries is very low. This indicates that this region has not yet developed the possibility of trade volume.