“Infrastructure is my greatest priority in India. And, I also want to set up a Special Purpose Facility in India to finance infrastructure projects in our region that enhances our connectivity and trade…India will now give a business visa for three to five years for Saarc. Let's make it even easier for our businesses through a Saarc business traveller card,” Modi said, at the Summit in Kathmandu on Wednesday.

He also spoke about creating a level-playing field to boost trade within the region. Urging the need to remove the “cynicism and scepticism” generally associated with Saarc, he said a lot had to be done to build a stronger grouping.

Highlighting the need to establish “direct routes of trade”, the PM said India had to take a lead in creating and enhancing regional integration. “I know that many of your goods, too, have to do a “parikrama” of India to reach their destinations. Just think of what we are doing to our consumers  — and to our environment! We must shrink the distance between our producers and consumers and use the most direct routes of trade,” he said.

Asking investors in the region to attract investment from India, he said this would enhance business and generate jobs for youth. “I look to a future when your companies can easily raise funds in India for investments at home; and, when we have cross-border industrial corridors, so that we can take advantage of the natural synergies and connected lives in our border states,” he said.

To boost trade, he said, it was important to reduce tariffs. “A good neighbourhood is a universal aspiration.”

He also spoke about treating electricity as a commodity.