The BIMSTEC or the Bay of Bengal initiative for multi sectoral and economic corporation is an international organization which consists seven member nations of India, Bangladesh, Sri Lanka, Nepal, Bhutan, Thailand, Myanmar. It's main aim to create an enabling environment for rapid economic development, social co-operation and progress and programmed collaboration on matter of importance. 

It came into effect in 1997 with the Bangkok Declaration. In the beginning there were only four founding members of this organization namely, Bangladesh, India, Sri Lanka and Thailand. And that is why at that time it was known as BIST-EC (Bangladesh, India, Sri Lanka, Thailand-Economic Co-operation). But soon Myanmar was included in it and then it was named as BISMT-EC (Bangladesh, India, Sri Lanka, Myanmar, Thailand-Economic Co-operation). Later, with the inclusion of Nepal and Bhutan it was renamed as the Bay of Bengal Multi sectoral Technical and Economic Corporation Group. 

If we talk about its potential, it is able to bridge the gap between South and South-Asian countries. It is home to about 1.5 trillion people that is 22% of the global population. Its combined GDP is almost 3 trillion dollars of the economy. BIMSTEC member states have been able to sustain an average of 6.5% growth. ¼th of the world's trading routes are crossed over from Bay of Bengal.

Talking about the connectivity project, The Kaladan Multi-Modal project is between India and Myanmar. The Bangladesh, India, Nepal and Bhutan Motar vehicle agreement which helps in the connectivity as well as the flow of people and business from one country to another. The Asian Trilateral Highway which is a gateway for India, Myanmar and Thailand movement of cargos. 

Talking about the significance in India, it helps India to pursue three of its policies, The Neighborhood first policy, The Act East Policy and the third one which talks about connecting its northeastern land locked states with the sea through Myanmar by making a bridge and also coming into an agreement with the Myanmar government. It allows India to counter China's influence on the countries around Bay of Bengal due to the spread of Belt and Road initiative. 

The Belt and Road Initiative has given India some challenges such as the inconsistent meetings. They have decided to hold meeting in every two years and the ministerial meetings every year but only four summits have taken place in 20 years up to 2018.Thailand, Myanmar and India which are the main members of this organization are more focused towards SAARC and ASEAN countries. Bangladesh is facing the refugee problem from Myanmar side. Border conflict between Thailand and Myanmar are at the peak and the BIMSTEC FTA was initiated in 2004 but it is yet to be concluded.

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