Bilateral trade between the Cook Islands and India totaled US$ 320,000 in 2014–15. India made no imports from the Cook Islands, and the entire value of trade is India's exports to the country. The main commodities exported from India to the Cook Islands are natural or cultured pearls, precious and semi-precious stones, imitation jewellery, coins, electrical machinery and equipment, and textile articles. At the 2nd FIPIC Summit, Prime Minister Modi announced that a FIPIC Trade Office would be opened at the FICCI premises in New Delhi. The trade office, named the FIPIC Business Accelerator, was officially opened on 7 September 2015. The Confederation of Indian Industries (CII) has also established a dedicated department at its headquarters in New Delhi focusing on boosting trade with Pacific Island Countries. An Indian residing in the United States established the St. Mary's Medical College in the Cook Islands in the 1990s. The College initially attracted many overseas students, but eventually closed several years later. The same person subsequently founded the South Seas University. However, the college only held one graduation ceremony before shutting down. According to a 2006 national population estimate of the Cook Islands, there were around 100 people of Indian origin residing in the Cook Islands, almost all of whom were Indo-Fijians. There are also a small number of Indian citizens working as professionals in the country. India provided $50,000 to help fund various small projects in the Cook Islands in 2005. India provided funds to procure a specialized vehicle for disabled persons in August 2012, for 16 community development projects in February 2013, to procure cricket equipment for domestic tournament in February 2014, and for 10 projects in January 2015. India announced that it would provide a grant-in-aid of US$ 100,000 annually to each of the 14 Pacific Island countries, including the Cook Islands, at the Post Forum Dialogue partner meeting in 2006. The amount was increased to US$125,000 annually from 2009. The funding was used for project such as purchasing furniture and equipment for educational institutions, procuring audit software for the audit office, procuring computers and accessories for the Ministry of Foreign Affairs & Immigration and the Ministry of Finance & Economic Management, upgrading of the fishing tools of Cook Islander villagers and building public utilities. At the first FIPIC Summit on 19 November 2014, Prime Minister Modi announced numerous steps that India would take to improve relations with Pacific Island countries, including the Cook Islands, such as easing visa policies, increase in grant-in-aid to Pacific Island Countries to $200,000 each annually, and several measures to boost bilateral trade and aid in the development of the Pacific Island countries.