|
|
|
|
|
24th Zulqada 1435 | Saturday, Sep 20, 2014
India

Myanmar invites India to invest in infrastructure, power

Saturday, 22 December 2012
Comments(0)
Mumbai, December 22:

Myanmar offers great opportunities for Indian business community to invest in infrastructure and power projects, visiting Myanmar President U. Thein Sein said here Friday.

In a closed-door session, organised by Confederation of Indian Industry (CII) late Friday, President Sein invited Indian businesses to also explore options in agriculture.

"The India-Myanmar-Thailand trilateral highway project, which will be extended to Laos and Cambodia with the assistance of the Indian government, will truly enhance regional connectivity and trade," Sein said.

He urged the captains of Indian industry to invest in Myanmar's energy sector and pointed out the huge deposits of oil and gas in the south Asian country.

Reciprocating Sein's call, CII president Adi Godrej proposed a five-point agenda to strengthen India-Myanmar business relations.

"I propose enhancing connectivity in culture and commerce between the two countries; promoting integration and synergy in power and railway sectors; appropriate banking arrangements to foster trade and investment; enhancing bilateral engagement in trade protection, co-operation and collaboration in industries like tourism and software; and inviting managers from Myanmar to Indian industry's centres of excellence," Godrej said.

The Myanmar-India trade has been steadily increasing.

India stands as the fourth-largest trading partner with Myanmar with a trade volume of $1347.40 in 2011-12, according to CII.

In 2011-12, Myanmar's exports to India were $1,046 million, a 20 percent increase over the previous year.

In the same period, Indian exports to Myanmar stood at$324.5 million, an increase of 66.5 percent over the previous year.

Myanmar exports agriculture and forest products to India and imports metal ores and products, medicines, transport equipment, machines and machinery parts and electrical appliances.

Myanmar has introduced tax reforms and took initiatives to make its banking system more customer-friendly.

Among those present at the meeting included S. Ramadorai, advisor to Prime Minister on skill development and vice-chairman of Tata Consultancy Services; B. Muthuraman, vice-chairman of Tata Steel; Arun Nanda, director of Mahindra & Mahindra; Ravi Kant, vice-chairman of Tata Motors; and Ganesh Natarajan, chief executive officer of Zensar Technologies.

---IANS

Latest News

Yemen agrees on truce with rebels: UN envoy

The United Nations envoy to Yemen, Jamal bin Omar said late Saturday that he had brokered a ceasefir ...

Asian Games 2014: India assured of a medal...

In women's squash India's Dipika Pallikal and Joshna Chinnapa won their respective matches to reach quarters. The draw has pitted them to ...

Maha polls: BJP rejects Sena's 155-12...

A day after the ice was broken, Shiv Sena and BJP leaders today held talks to end the tangle over seat-sharing for Maharashtra Assembly poll ...

Related News

Efforts on to impart education that promotes culture: Irani

Union HRD Minister Smriti Irani today said efforts were being made to impart education that promotes ...

IAF AN-32 aircraft with 11 on board crash lands at Chandigarh

An IAF AN-32 transport aircraft with 11 people on board crash landed tonight at Chandigarh airport b ...

Cheer India to Mars and win collectibles, ...

Cheer India to Mars on Indian space agency's Facebook page and win exclusive collectibles, said ISRO Saturday. With India's ambitious Ma ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26340 (Per 10g)

Opinion Poll
Do you think Modi saying Muslims patriotic, a diplomatic statement?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com