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4th India-CLMV Business Conclave held in Jaipur

The fourth edition of India – CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) Business Conclave was held in Jaipur, capital of Rajasthan.

The two-day conference organised by Department of Commerce and Confederation of Indian Industry (CII) held deliberations on manufacturing, renewable energy, agriculture and skilling among others sectors in the region.

Key Facts
  • The conference was aimed at identifying specific project opportunities and seeks business partnerships in the region. It consisted of business to business meetings and sectorial sessions.
  • The conclave focused on sectors such as Pharma, Healthcare, manufacturing, Agri Business, Food processing, Gems and Jewellery, Textiles, Leather, Renewable Energy and education.
Background

The CLMV conclave is an annual event which provides an opportunity for Indian business leaders to interact with government and business stakeholders representing these four Southeast Asian countries. It facilitates to create and provide a platform for the decision makers from CLMV countries to interact with a range of Indian business companies involved in manufacturing, processing, trading, engineering, consultancy, construction etc.

Importance of CLMV countries

Cambodia, Lao PDR, Myanmar and Vietnam collectively are the third largest economy in ASEAN, followed by Indonesia and Thailand.  Due to close proximity, India is looking to boost trade and investment with the CLMV countries and South east region as part of the ‘Act East’ policy announced by Prime Minister Narendra Modi during the 12th India – ASEAN Summit in 2014 held in Myannmar. In the last 10 years, India’s trade with the CLMV countries has grown from $1.5 billion to more than $10 billion.

CLMV Countries

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Government sanctions Rs.580 crore for Agartala-Akhaura rail link Project

Union Government has sanctioned about 580 crore rupees for Agartala-Akhaura railway link Project to connect Kolkata (West Bengal) with Tripura via Bangladesh.

The sanctioned fund will be used for the laying of the five km railway track up to Bangladesh border from Agartala. It is

Agartala-Akhaura Railway Link Project

  • It is 15 km long strategic railway route that would connect the Indian Railways with the Bangladesh Railways. The work on this project is expected to complete by 2017.
  • Of the 15 km strategic railway track, 10 km falls in the Bangladesh side and the rest 5 km falls in India.
  • It was initiated after Bangladesh Prime Minister Sheikh Hasina’s visit to India in January 2010 when both countries had agreed to lay the railway track.

Comment

This project will play important role in India’s ‘Act East’ Policy and is expected to improve connectivity and boost trade between the two countries. It will also reduce the current 1700 km road distance between Kolkata to Agartala via narrow Chicken Neck Siliguri corridor to just 350 km by railway.

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