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Need for India and CLMV countries to promote greater connectivity and economic integration with Regional Value Chains Nirmala Sitharaman

News and Press Release - Dated:- 13-1-2016 - According to Smt. Nirmala Sitharaman, Minister of State for Commerce & Industry (IC), Government of India The trade links and ties between India and the CLMV countries can be much better, and the two governing principles, connectivity and economic integration with regional value chains are crucial. The Minister was delivering the Keynote Address at the 3rd India - CLMV Business Conclave being organized by the Confederation of Indian Industry (CII) .....

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tential of about 100billion USD dollars of additional export. The Minister stated that there was a need for Indian banks to establish their branches overseas and the proposal of a Project development fund, an important instrument to handhold manufacturing units in the CLMV countries and duty free tariffs. While globally FDIs are falling, last year India had 38% growth in FDI, which shows the investors confidence in India. She also added that with the world economy falling, it will depend on CMLV .....

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en investment regime and does not discriminate between foreign and local investors. It is investing heavily into its transport infrastructure. Mr. Somchinth Inthamith, Vice Minister of Industry and Commerce, Lao PDR, said, The investment between Laos and India is still insignificant. We are working on policy level changes in laws and regulations and open sky policies to facilitate trade. CLMV and India should work together to strengthen the strategic partnership to reduce the poverty. We are com .....

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lifying laws and policies should be encouraged between countries to address commercial challenges. Mr. Nguyen Cam Tu, Deputy Minister, Ministry of Industry and Trade, Vietnam, said, We welcome India s economic integration with the CLMV countries. India and CLMV need to strengthen economic integration through connectivity, infrastructure, and trade facilitations.We also aim to focus on the added advantage from sectors such as seafood, manufacturing, engineering, automobiles and chemicals. In his .....

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