Niti Aayog CEO Amitabh Kant today said the economic development of South Asia has been "severely hampered" due to lack of intra-regional trade and stressed on the need for a greater push to investments, travel and tourism in the region.
He further said that economic growth will not come to South Asia from America or Europe and it will need political will and determination of SAARC countries, which will enable growth to take place and also eliminate poverty.
"Politicians may say anything and politics of the region may do anything but South Asia as a region has been severely hampered and it will remain backward till we don't integrate and till we don't push for greater trade, greater investments and greater travel and tourism within the region," he said.
Kant was addressing SAARC Development Fund (SDF) Partnership Conclave 2018 here.
He pointed out that most of travel and tourism across different regions of the world is intra-regional in character.
"If you look at America and Europe, it (trade, travel and tourism) is intra-regional. But if you look at South Asia, it is least integrated region in the world," the Niti CEO said.
He added, "If you look at intra-regional trade, there is virtually no trade taking place in the SAARC region. There is no intra-regional travel and tourism... therefore multiplier impact of trade within the region has not benefited the SAARC countries."
Speaking at the same event, SAARC Development Fund CEO Sunil Motiwal said, "We plan to convert SDF into regional bank in the next 2 years."