India must be prepared for the long haul
Implementing the connectivity master plan of Bimstec will take a very long time
Several recent developments suggest the Bimstec grouping is moving forward with a newfound sense of purpose. A little more than a fortnight after the summit of the Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (Bimstec) in Kathmandu on August 30-31, officials of its seven members are meeting to frame a rail, road, sea and air connectivity master plan. This meeting follows the first military exercise in India by five members of the grouping that focused on counter-terror operations and hostage rescue. Such a flurry of activities is a clear reflection of India’s strategic move to throw its weight behind Bimstec as the preferred forum for regional cooperation that bolsters its “Act East” policy.
However, one mustn’t lose sight of the fact that Bimstec — which groups together Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand — is a body whose members have diverse interests and stakes in other regional groupings. And despite the momentum imparted by the recent summit in Kathmandu — only the fourth since Bimstec was formed in 1997 — Nepal’s decision to pull out of the war game in Pune after committing to it struck a discordant note. The connectivity master plan was finalised after more than a decade of discussions — an indication of how slowly things can move within Bimstec. However, it provides the framework for seamless linkages between the member states that can foster more inclusive growth.
The Bimstec region, which has a population of 1.5 billion and a combined GDP of $2.7 trillion, has witnessed sluggish growth of intra-region trade. While the countries around the Bay of Bengal are part of one of the fastest growing economic regions, trade among them accounts for only 5% of all trade in the region. Even the implementation of the connectivity master plan will take a long time. India, and the other members of the Bimstec, must be prepared for the long haul.