Hosting a summit of 14 island nations located in the strategically important Pacific region here, he said pushed for balancing the global order as he stressed the need for closer cooperation with these resource-rich countries.

In his inaugural address at the second summit of  Forum for India Pacific Island Countries (FIPIC), PM Modi announced the establishment of the FIPIC Trade Office in the Federation of Indian Chambers of Commerce and Industry in New Delhi, while observing that 'trade, more than aid, is the enabler for development'.

"We are at the cusp of a new era, where oceans, like Space, will become important drivers of our economies. Their sustainable use can bring prosperity; and, give us clean energy, new medicines and food security beyond just fisheries,” he added.

"Our global challenges are similar. Climate change is an existential threat to the Pacific Islands. It is also taking a toll on the teaming millions on India’s shoreline of 7500 kms and its nearly 1300 islands,” the Prime Minister cited.  Referring to the climate conference in Paris to be held later this year, PM Modi said, "We both seek a concrete and effective outcome."

He India and the Pacific island nations should work together for a separate goal on climate change in the Sustainable Development Goals, and in a manner that addresses the interests of developing countries.

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