New Delhi: Efforts are underway to operationalise key infrastructure links between Cambodia, Lao, Myanmar and Vietnam (CLMV) countries and India for better economic integration in the region, a top government official said on Thursday.
Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that the India-Myanmar-Thailand Trilateral Highway will serve as a lifeline for Mekong and North-East region of India.
India, Thailand and Myanmar are working on about 1,400 km long highway that would link the country with Southeast Asia by land and 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," Mohapatra said at CII's India-CLMV Business Conclave 2020.
He also said that a project development fund was set up with a corpus of USD 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 USD 1.1 billion to USD 14.1 billion in 2019-20.
