Prosperity connections in the works
Islands along maritime connectivity being built between India-ASEAN will offer new investment opportunities, said officials at a summit on the two regions.
Gen. (Dr.) V K Singh, Minister of State for External Affairs, said the Maritime connectivity will not only help improve bilateral trade but also connect various islands in India and ASEAN offer investment opportunities.
India is already planning tourism-resort developments on islands in the Andaman Sea.
Singh also highlighted the need to promote air connectivity between the ASEAN region and Tier II cities in India.
Speaking at the ASEAN India Connectivity Summit in New Delhi on 11 Dec 2017, Minister Nitin Gadkari said India and Myanmar are working very closely to upgrade infrastructure in the border areas.
The Trilateral Highway being built by India in Myanmar and Thailand, and the Kaladan Multi-modal Project in Myanmar, are main developments which will boost connectivity with the two regions.
The Ganga River from Varanasi to Haldia has been developed as a waterway and a further linkage is being created via the Brahmaputra River to India’s Northeast, the link point to ASEAN countries, he said.
The ambitious Sagarmala Project envisages an investment of Rs.16 lakh crore for maritime connectivity, elaborated Gadkari, Minister of Road Transport and Highways, Shipping and Water Resources, River Development and Ganga Rejuvenation.
Phan Tam, Deputy Minister of Ministry of Information and Communications of Vietnam underlined the focus of ASEAN countries on implementation of the Master Plan on connectivity to promote free flow of goods and people in the region.
Shobana Kamineni, President, CII, stated that connecting the region’s larger markets can bring about economies of scale in production and enhance competitiveness.
Integration of markets can facilitate the movement of production networks and attract more foreign direct investment along with the benefits of knowledge and technology transfer and opportunities to connect to regional and global supply chains, said Kamineni. fii-news.com
