India always cares for, looks after interests of Global South: Piyush Goyal

We do believe that we would like to be a friend to every country in world, more so member states of Bimstec, 7 nations who collectively make up almost 22 per cent of world population, Goyal added

India has always looked upon itself as a responsible nation, which cares for and looks after the interests of the Global South, Commerce and Industry Minister Piyush Goyal said on Wednesday.

He also said that the welfare of all the people of the world is a collective responsibility of every nation.

The Global South broadly includes developing and least developed countries of regions such as Africa and Asia.

"We do believe that we would like to be a friend to every country in the world, more so the member states of Bimstec, the seven nations who collectively make up a very large number of people, almost 22 per cent of the world population," Goyal said.

The minister was speaking at CII's Bimstec Business Summit 2024 here.

The remarks assume significance as India's neighbouring country Bangladesh is facing political turmoil.

"We are all deeply concerned about the evolving situation in Bangladesh and we wish the people of Bangladesh well. We will all collectively convey our best wishes for a smooth transition and a bright future in the years to come.

"India has always looked upon itself as a responsible nation, which cares for and looks after the interests of the Global South," he said.

Bimstec stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. Its seven members are five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand).

Speaking at a session of the event, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said that the world is facing a period of considerable geopolitical turmoil in different pockets of the world including "our" region.

In the context of Bimstec, the way India develops its economy, could be a template for some others - both in terms of physical and digital infrastructure, he said.