The Indian Technical and Economic Cooperation (ITEC) Programme was instituted by a decision of the Indian Cabinet on 15 September 1964 as a bilateral programme of assistance of the Government of India. The decision regarding setting up the ITEC programme was predicated on the underlying belief that "it was necessary to establish relations of mutual concern and inter-dependence based not only on commonly held ideals and aspirations, but also on solid economic foundations”. Technical and economic cooperation was considered to be one of the essential functions of an integrated and imaginative foreign policy.