Ramesh was the first minister-level Indian official attending the regional forum, according to outgoing BFA secretary-general Long Yongtu.
Established in 2001, the BFA is committed to promoting regional economic integration and bringing Asian countries even closer to their development goals.
"It's a historical moment for the BFA," Long said when introducing Ramesh.
"China and India are not competing so fierce as some people say" and the two countries "share more than we compete," Long said.
However, there are "too few people-to-people contact" between the two most populated and booming economies, Long said.