SAARC was established in December 1985 during the first SAARC summit that was held in Dhaka. After gaining independence from the British rule , India adopted the policy on National Self Reliance and next formed SAARC along with 6 other member nation of south asia : Bangladesh, Bhutan, Pakistan, Nepal, Maldives, India and Srilanka.
India offers a great source of potential investment in terms of trade and commerce as it is the sole SAARC member to be sharing borders with all 6 members via land or sea.
Prime objective: Prompting the welfare of the people of South Asia, accelerating economic growth and social progress. Major hindrance: Powerty ; India offered a contribution of US $ 100 million at the 12th summit held at Islamabad in 2004.
India has proposed setting up of climate innovation centres in South Asia to develop sustainable energy technologies.
India announced, ‘’ India Endowment for climate change ‘’ to help SAARC members meet their urgent adaption and capacity building need posed by the climate change.
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