Why in News ? Extending greetings on 24thBIMSTEC Day on June 6, PM Narendra Modi said, BIMSTEC has emerged as a promising regional grouping and made progress on several factors including finalisation of master plan for connectivity. What is BIMSTEC? BIMSTEC is acronym for “Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation”. It is a regional multilateral organisation established on June 6, 1997 in Bangkok under the name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic Cooperation).  Myanmar was included to it in 1997 following which group was renamed as ‘BIMST-EC’ (Bangladesh, India, Myanmar, Sri Lanka and Thailand....Read More