Emphasising that it was not seeking any "exclusive sphere of influence" in South Asia as "often misconstrued," India on Saturday said the countries of the region need to work with "mutual trust and confidence" for the common future and that New Delhi was ready to take the initiative in this regard.

External Affairs Minister Pranab Mukherjee said India wants to deal with all its neighbours on the basis of "sovereign equality and mutual respect" and this is reflected by the revision of Friendship Treaty with Bhutan that gave Thimpu more powers.

Favouring creation of stake for all countries of the region in the economic success of the other, he told a conference of South Asian Association for Regional Cooperation editors in Delhi that India will play a positive role in the establishment of new trans-border transport networks and energy corridors.

Underlining that South Asia has a common future, he said, "We have to work for it with mutual trust and confidence. For its part, India is committed to developing political relations with its South Asian neighbours on the basis of sovereign equality and mutual respect."

Mukherjee, who was addressing the concluding session of the two-day meet, said, "What we seek is not an exclusive sphere of influence, as is often misconstrued, but a shared sphere of mutual development and cooperation."

India's vision for the SAARC region is "one of open regionalism", the minister said, noting that this was underlined by New Delhi's strong support to the entry of China and Japan into SAARC as observers.

Turning to the revised Friendship Treaty signed with Bhutan earlier this week, Mukherjee said it implies that India "wants to extend a hand of cooperation to all the neighbours on the basis of sovereign equality and mutual respect."

The Indo-Bhutan Friendship Treaty of 1949 required a revision and the new accord reflects ground reality, the external affairs minister said.

Under the new treaty, Bhutan will have more powers to conduct foreign and defence policies.

Noting that no South Asian nation can succeed on its own in the globalised world, Mukherjee said the upcoming SAARC Summit should give a clear signal for improving connectivity by ensuring free flow of trade, commerce, goods, people and ideas.

"Only then can we effectively connect South Asia with the abutting regions of South East Asia, Central Asia and the Persian Gulf," he said.

He asked the media to play the crucial role it has in promoting understanding and cooperation among the SAARC countries.