Objective - Peace and prosperity in South Asia.

Non-interference in domestic affairs;

Each country to have veto power and SAARC decisions are to be taken by consensus.

A Social Charter was adopted in 2004 which echoes a broader commitment to advance the socio-economic conditions of the population in the region.

NAFTA was created by Mexico looking to use the US as an anchor economy. It is unclear, whether India is that anchor or if its South Asian neighbours want it to be that anchor.

In NAFTA, Mexico got a certainty of access to the US markets in return for it liberalizing its economy. The situation is different here because it will involve a situation where all the economies will have to open up to each other. The certainty of access angle does not apply here.

There was no competition for the US to be the anchor in NAFTA. For South Asia integration, China and India are two competing anchors.

During Nepal earthquake, all SAARC members responded individually. SAARC as an organisation was absent.

Arvind Subramanian (Chief Economic Advisor) - Regional economic integration in South Asia is not the first priority of India. India's economic fortunes are tied to the rest of the world. Geopolitical considerations make South Asia important for India.

G Parthasarathy - New Delhi should recognize that the only realistic route to economic integration in its neighbourhood lies primarily on the east, along and across the BoB. Connectivity with East should be enhanced in such a manner that Pakistan ceases to matter. In Arabian Sea, India should promote cooperation with Maldives, Seychelles and Mauritius. India can pay lip service to SAARC but it has to build new structures to meet the challenges posed by China's BRI.

Prof Happymon Jacob - For completing development projects in foreign countries, India should move from unilateral approach to a multilateral approach. For e.g. Chabahar port project is hanging fire since last 13 years. Partnering with Japan or European countries to co-develop the port would save us some money, enable us to complete the project in time and ensure more security and acceptability to the project.

Prof Anuradha Chenoy - A country becomes greater power if it take its region along with it. If South Asia as a region is trouble and distress free, then India would be more powerful. Thus, South Asia's importance cannot be exaggerated for India.

It promotes insurgency, terror attacks, smuggling, organised crimes, money laundering in the region

It promotes domestic ethnic crisis in the host country

It reduces the chances of the building of the security community

Use SAARC to address mutual concerns of poverty, disaster risk reduction, unemployment which are often the causes of migration

However, there is absence of common HR mechanism for South Asia which needs to be developed.

SAARC has no permanent mechanism to address HR issues.