Efforts underway to operationalise vital infra links between India, CLMV countries: DPIIT Secy
India on Thursday said that work is ongoing for the 1,400 km long India-Myanmar-Thailand Trilateral Highway that will give a boost to trade, business, health, education and tourism ties among the three countries.
“Efforts are underway to operationalise vital infrastructure links between CLMV countries and India for better economic integration,” Guruprasad Mohapatra, secretary, Department for Promotion of Industry and Internal Trade (DPIIT) said at CII’’s India-CLMV (Cambodia, Lao, Myanmar,Vietnam) Business Conclave 2020.
He also said that a project development fund was set up with a corpus of $75 million to promote trade and investments in CLMV countries as well as to help integrate domestic producers and manufacturers in the regional value chains.
The two-way trade between India and CLMV countries has increased from $1.1 billion to $14.1 billion in 2019-20.
Mohapatra also said that the Kaladan multi-modal transit transport project will enhance connectivity between India and Mekong river region.
“Our aim is to reach our friends in south-east Asia through the north-eastern frontier of India and in turn achieve development for our people and partners,” he said, adding that the natural resource potential of north-east India and CLMV countries offers unique opportunities for developing an export-oriented economy and that this would enhance investment potential and bring comprehensive industrial development.