Gregor Clegane
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Actually both Nepal and Bhutan signed the agreement last month.Except only one country, other than India, has officially signed on for it. The rest, while orally supporting it, have yet to sign on.
India overestimates its own relevance, and influence. Neighbors are getting nervous, which is why China's own influence is growing, and Pakistan continues to see a lot of cooperation with South Asian nations, other than India.
SAARC is simply a forum to unify the subcontinent, but it isn't the only method of cooperation.