Increasing FDI flows – To fill institutional and infrastructure deficits, South Asian countries need deep regional cooperation. With regard to SDG financing in South Asia, countries can strive to increase the influx of intra-regional LDCs. The private sector can also play a decisive role in mobilizing resources. Instead of praying for the success of ASARC, the new Delhi government should double the informal diplomacy that could help pave the way for more targeted regional cooperation, both bilateral and multilateral. Dear Director of the IIT, excellent faculty and dear students It is indeed a great pleasure for me to interact with you today in this historic and beautiful city of Bhubaneswar, which I first visited in 1985 during a secondment to Dhaka. In fact, it was the year as ASAC was founded in Dhaka, which was originally launched by Bangladesh`s President Zia. I am very grateful to the university administration for the friendly invitation and excellent hospitality, as well as to the XPD department of the Ministry of Foreign Affairs for organizing this interaction. I am pleased that we are discussing SAARC and its relevance and future with India as an engine of success. This is a very important issue that concerns a very important and strategic region in the world.
In the past two years, several changes have had an impact on the well-being of the region in the past two years. I would like to talk about the birth of ASARC, its successes and failures, the main restrictions on further integration and the external factors that hinder its growth and viability as a prosperous regional group, while highlighting the impact of India, China and Pakistan on their growth or absence. South Asia, although often defined in bulk, includes a small island like the Maldives to India a country of continental dimensions. Its short political and independent history, six or seven decades old, has seen the astonishing functioning of India`s largest democracy for the kingdoms of Bhutan and Nepal in political upheaval through frequent coups in some of the group`s countries, as well as the resurgence of democratic communism in Nepal. In addition, two of the major countries have nuclear capabilities, reinforced by the Already nuclear Chinese in their larger neighbourhood, which seek to maintain their stylized balance by a single alternate by Pakistan. In particular, almost all countries have suffered from extremism and terrorism and have often been exported from outside and across borders, although some have become safe havens for terrorist groups and camps, as part of their tacit policy to serve their unsustainable short-term foreign policy objectives and objectives.