Recent developments in India's foreign policy with regard to its neighbours have been aimed at strengthening relationships and promoting regional stability. Here are some of the recent foreign policy initiatives taken by India towards its neighbours and their impact on the region:

• Neighbourhood First Policy: Launched in 2014, India's neighbourhood first policy seeks to deepen ties with neighbouring countries, including Bangladesh, Bhutan, Myanmar, Nepal, Sri Lanka, and the Maldives. The policy aims to boost trade, strengthen security cooperation, and promote people-to-people ties.
• Act East Policy: India's act east policy seeks to enhance economic, strategic, and cultural ties with Southeast Asian nations. It includes initiatives such as the India-Myanmar-Thailand trilateral highway and the Asian Highway project
• South Asian Association for Regional Cooperation (SAARC): India has been actively working towards reviving the stalled SAARC process. India has also initiated the SAARC Development Fund and the South Asian University, which aims to promote regional integration and cooperation.
• Impact: These initiatives have had a positive impact on regional stability by promoting economic development and cooperation, enhancing security ties, and promoting cultural exchange.

However, there have been certain challenges that India has faced, such as border disputes with China and Pakistan, which have impacted regional stability to some extent.