Government sources said that the pilot projects “had been planned to ensure better takeoff of credit line projects and to reduce the dependence of the ASEAN countries solely on China. These, we hope, will be like trailers of the movies, yet to be released.”
It shows the heft that New Delhi has gained over the last few years as a credible geo-strategic partner of the ASEAN, and also reflects a reaction to the aggressive posture adopted by China in the South China Sea
From the unsure engagement of 40 years ago to Prime Minister Modi’s decisive shift to ‘Act East’, India-ASEAN relations have come a long way. An important chapter in the emergence of a shared trade and geostrategic vision will unfold over today and tomorrow.
ASEAN Summit Live Updates: "India has always contributed to world peace and never harmed another country. Our contingent in the UN Peacekeeping Forces is among the biggest," the PM said to the Indian diaspora.
PM Modi also highlighted the roll-out of the Goods and Services Tax (GST) as well as measures for bankruptcy and insolvency proceedings, as a part of policies initiated to bring transparency in the financial sector.
"The cooperation between India and US can rise beyond bilateral cooperation and both countries can work for the future of Asia and the world...We are moving ahead together on many issues," Modi said as quoted by PTI.