India leading effort on SAARC currency swap pact

India is finalising an agreement to develop a currency swap agreement among SAARC nations which will help them protect their currencies during special exigencies, foreign secretary Ranjan Mathai said here today.

Maintaining that India's prosperity is inter-linked to that of its neighbours, Mathai, speaking at a CII event, said that integration of SAARC economies was "not only important but it is an imperative for all of us South Asians if we want to face challenges facing our region and if we want to meet the aspirations of our people."

He added that Indian companies like Airtel and Arvind Mills are already investing in Bangladesh.

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