Bangkok: Prime Minister Narendra Modi on Sunday (November 3) said that the Association of South-East Asian Nations (ASEAN) lay at the core of India's Act East Policy and welcomed India-ASEAN cooperation on Indo-Pacific outlook.

"I welcome India-ASEAN cooperation on Indo-Pacific outlook. India's Act East policy is an important part of our Indo-Pacific vision, and ASEAN lies at the core of it. Integrated, strong and economically prospering ASEAN is in the interest of India," he said during his address at the 16th India-ASEAN summit.

The Prime Minister stressed that they intend to increase people's travel for education and tourism significantly.

The Prime Minister also welcomed the recent decision to review the India-ASEAN Free Trade Agreement (FTA) which he said will deepen economic cooperation. During his address, Prime Minister Modi also said they want to strengthen ties in the field of maritime security.

The Prime Minister also commended Thailand for the excellent arrangement and hospitality for the summit. He also extended warm wishes to Vietnam for the chairmanship of ASEAN and East Asia summit next year.

The Prime Minister later posed for the traditional group photograph with leaders of ASEAN countries.

"Holding hands and growing together! PM @narendramodi and leaders of 10 other @ASEAN countries at the traditional group photograph before the beginning of the 16th ASEAN-India Summit in Bangkok," Ministry of External Spokesperson Raveesh Kumar said in a tweet.

Earlier in the day, the Prime Minister while addressing an event, pitched India as the favourite investment destination.

"I am eager to give you a picture of some positive changes happening in India today. I say this with full confidence- this is the best time to be in India! In today's India, many things are rising, and many are falling," he said during his address at the event.

"'Ease of Doing Business' is rising, and so is 'Ease of Living.' FDI is rising. Our Forest Cover is rising. The number of patents and trademarks are rising. Productivity and efficiency are rising. The pace of infrastructure creation is rising. The number of people getting top-quality healthcare is rising. At the same time, Number of taxes are falling. Tax rates are falling. Red-tapism is falling. Cronyism is falling. Corruption is falling. The corrupt are running for cover. Middlemen in the corridors of power are history," the Prime Minister said.