India-Myanmar trade show to be held in Yangon from September 24-27

NEW DELHI: Over 80 companies from India, including Larsen & Toubro, Thermax, Kirloskar Electric Co, Finolex Cables and VLCC Personal Care, will participate in the India-Myanmar Trade & Investment Show to be held in Yangon, Myanmar from September 24-27.

"The trade exhibition is an ideal platform to showcase India's capabilities, products & services and to explore opportunities for joint ventures, technology transfer & marketing tie-ups," industry body Ficci said.

"With new investment laws and liberalized trade regime in Myanmar, India Product Show, offers an opportunity to Indian businessmen to expand trade and investment relations with Myanmar," it added.

The show is being organized by Ficci with support from the Ministry of Commerce and the Indian Embassy in Myanmar.

The focus sectors during the trade show would be agriculture & food industry, automobile, engineering & infrastructure, pharmaceuticals & healthcare, travel & tourism and consumer products.

India's trade with Myanmar more than doubled in the past seven years. In 2013-14, total trade crossed $ 2 billion with exports at $ 787.01 million and imports at $ 1.39 billion.

The economic engagement between Myanmar and India has gained momentum in the last few years and trade relations between the two countries have witnessed a steady growth.

Till date, the trade balance is heavily in Myanmar's favour. India accounts for a sizeable share in Myanmar's imports of pharmaceutical products (37 per cent), essential oil, perfumes, and cosmetics (6.6 per cent), rubber and articles (6.2 per cent), articles of iron or steel (5.6 per cent), cotton (5.6 per cent), and iron and steel (5.5 per cent).

India's share in the other major import items of Myanmar continues to remain marginal, which highlights the potential for enhancing such exports to Myanmar.

Myanmar imports only three per cent of its total imports from India and there is substantial scope for India to diversify the trade basket.