India-CLMV Current Affairs - 2019
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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.
- 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.
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.