India, April 4 -- Enhanced trade, transport, technology and security cooperation within the Bimstec framework will ensure the collective development of the seven members of the grouping and a prosperous and inclusive Bay of Bengal region, Prime Minister Narendra Modi said on Friday.

Addressing the Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (Bimstec) Summit, Modi proposed connectivity between India's Unified Payments Interface (UPI) and similar systems of the other member states as well as trade in local currencies in the region.

The summit, which brought together the leaders of Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, witnessed the signing of the Agreement on Maritime Transpo...