Prime Minister Narendra Modi announced today a line of credit to the tune of one billion US dollars to promote projects that support physical and digital connectivity between India and Asean countries. <br/><br/>Addressing ASEAN -India summit in Kuala Lumpur Mr Modi said special emphasis will be given to partnership with Cambodia, Laos, Myanmar and Vietnam. Both ASEAN countries and India agreed to enhance the economic and trade ties to 100 billion dollars by 2020 and further enhance it to 200 billion dollars by 2025.<br/><br/>Prime Minister said India intends to create a Project Development Fund to encourage manufacturing hubs in these countries. India also announced to extend electronic VISA facility to all ten ASEAN countries by including Brunei. <br/><br/>Stating that terrorism has emerged as a global challenge affecting all countries, Mr Modi stressed the need for specific co-operation plans in maritime security, counter-piracy and humanitarian and disaster relief with ASEAN countries. <br/><br/>He laid emphasis on enhanced co-operation at the regional and international level by adopting the Comprehensive Convention on International Terrorism.<br/><br/>India reiterated its stand on South China Sea dispute saying that all maritime disputes should be resolved through peaceful dialogue and felt that Right of Passage and access to resources should be maintained under the 2002 declaration and favored early adoption of conduct of code on the basis of consensus.<br/><br/>Taking a lead in the area of non-conventional energy resources, India proposed setting up of a Solar Application Institute and asked ASEAN countries take part in it due to long term benefits of clean energy. <br/><br/>The Prime Minister will be declaring the initiative during the upcoming COP-21 summit to be held in Paris.<br/><br/>India also announced its commitment for cooperation on Human Resource Development, Education and Skill upgradation. <br/><br/>On Science and Technology front, the Prime Minister offered advanced navigation and location assistance and IT based facilities through India's prestigious GPS Aided Augmentation Navigation, called GAGAN. <br/><br/> India will set up an Asian Study Centre in the North Eastern Hill University (NEHU) in Shillong to facilitate study on Asian Cultural links.
News On AIR | November 21, 2015 6:07 PM
PM Modi announces $1 billion line of credit for India-ASEAN connectivity projects