Infrastructure pressing need

Indian Prime Minister Narendra Modi yesterday said infrastructure was the South Asian region's “greatest weakness and its most pressing need."
Addressing the 18th Saarc Summit in Kathmandu, he said, "I want to set up a Special Purpose Facility in India to finance infrastructure projects in our region that enhances our connectivity and trade.”
Making out a strong case for greater economic integration and physical connectivity in South Asia, the Indian PM announced a slew of unilateral initiatives including 3-5 years business visa and immediate medical visa for people in the region.   
"India will provide immediate medical visa for the patient and an attendant,” he said.
Pointing to India's huge trade surpluses with all Saarc countries, Modi said “this is neither right nor is it sustainable” and "India is not happy with (the) trade surplus".

He assured the member countries of addressing their concerns on this score and providing them a level-playing field in India, saying India was willing to give more duty-free access to its market to goods from some Saarc countries.
Modi said while Indian companies were investing billions of dollars abroad less than one per cent of it was in South Asia.
“In Saarc, less than 5 percent of the region's global trade takes place between us."
As Saarc “we have failed to move with the speed that our people expect and want” and some contend that it is because of asymmetry in economic development of countries in the region, he said.
Closing his speech, the Indian PM called on all, “Let's move from cynicism to optimism and to realise peace and prosperity in the region.”