The 4th India – CLMV Business Conclave held in Jaipur.
What is CLMV conclave?
Cambodia, Lao PDR, Myanmar and Vietnam collectively, 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 region as part of the ‘Act East’ policy.
The CLMV conclave is an annual feature which provides an opportunity for Indian business leaders to interact with government and business stake holders representing the four countries.
The conclave 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 trading, manufacturing, processing, engineering, consultancy, construction etc.
What is the trade scenario?
The trade with the CLMV countries grew from $ 1.5 billion to more than $ 10 billion in the last 10 years and expressed hope that India will be able to partner in more trade initiatives with these countries to develop a strong India-CLMV vertical within the ASEAN market.
There are clear verticals for India to facilitate trade with these countries like, organic agriculture produce from Myanmar, value added products from coffee & pepper produce of Vietnam, two & three wheeler exports to Lao PDR etc.
These countries can take advantage of the tremendous scope in India on skill resources across various sectors.
What is the way ahead?
India is organising a Business Service Management-cum-exhibition in Myanmar during March, 2017.
At the event, India will showcase her strengths in the healthcare verticals, viz. Pharmaceuticals, medical technology and health services.
India’s abilities in Agriculture, fisheries, aquaculture, skilling, solar and wind energy can provide a lead to the region.
