The Modi government has invested considerable diplomatic and strategic capital in cultivating ties with several groups of stakeholders in Myanmar. It needs its support to develop its North East and rein in insurgent groups. Welcome to new age Indian diplomacy.
India is bidding to set up a real time payments system in Myanmar. If it succeeds in face of the stiff competition from MasterCard and Visa, it could open the floodgates for rolling out this payments system across other Asian markets such as UAE, Singapore and Malaysia.
In the backdrop of strained ties with China, the importance of relations with Myanmar has increased as shown by last week’s consultations between the foreign offices of both countries.
Assisting Myanmar wean away from its dependency on revenues from the energy sector amidst a volatile oil market has the potential to support economic stability and would fit well into India’s economic capacity building through its Act East Policy.
India’s proactive Act East policy hinges heavily on the ASEAN free trade group and it is the many emerging economies in this collective that offer growth opportunities for Indian companies. The Association of South-East Asian Nations (ASEAN) comprises of the Philippines, Indonesia, Singapore, Malaysia, Brunei, Thailand, Cambodia, Laos, Myanmar and Vietnam. India’s focus on a strengthened and multi-faceted relationship with ASEAN was reinvigorated at the 12th ASEAN India Summit in Nay Pyi Taw, Myanmar, in November 2014, when Prime Minister [...]
India’s bilateral trade with Cambodia, Laos, Myanmar and Vietnam has grown exponentially from $460 million in 2000 to almost $12 billion in 2014. Till recently, they were considered the poor cousins of ASEAN’s more prosperous members, but the four countries – Cambodia, Laos, Myanmar and Vietnam – known by the acronym CLMV have emerged as the new cynosure of investors’ eyes –both for their economic potential as well as for their strategic value. Recognising these advantages, Prime Minister Narendra Modi [...]
From a passive acceptance of SAARC’s irreplaceable role as a platform for economic integration and developmental cooperation in the region, the Narendra Modi led government has changed India’s approach.
In the autumn of 2016, the cancellation of the South Asian Association of Regional Cooperation (SAARC) summit scheduled to be held in Islamabad was a defining moment in the life of this 30-year institution. The first SAARC summit was hosted by Dhaka in December 1985. Following that, heads of government of member countries were expected to meet every year.
Cambodia, Laos, Myanmar and Vietnam (CLMV) collectively hold a lot of promise for Indian companies, both as a market and source of raw materials.
Most Indians are quite familiar with Vietnam. Apart from etching itself into the India’s (and the world’s) collective consciousness for its heroic and successful fight against a superpower in the 1960s and 1970s, it has also emerged recently as a close Indian ally in South East Asia against a new Chinese assertiveness.