Myanmar Naing-ngan previously known as Burma was the 4th largest trading partner of India in 1940 after UK, USA and Japan. In 1940 India exported 37 million usd$ worth of goods to Burma and Burma's exports to India were 94 million usd$. Just for a comparison China was 5th largest trading partner in that year with India exported 28$ m & imports from China amounted to 10 m.
However , in 1993 the trade between both nations was insignificant where India exported around 6 million usd [197 million Rs.] and imported from Burma goods worth 103$ [3223 M Rs.]
Burmese-Indian border trade is not significant but could be developed substantially bringing about a greater geo-economic security and prosperity to the population of North-Eastern India and Burma - long neglected by both countries. India's north-east region has been in decay and Indian businesses have never given their proper attention to the area. The vast opportunities are available to them to trade with Myanmar and the same route could be used to trade with Bangladesh , China and Indo-China.
Myanmar-China trade have grown substantially and Chinese will soon take over Japan & ASEAN in total bilateral trade - mostly border trade.Chinese manufactured goods are today filling shops in most Myanmar cities although the statistics are not available but border barter trade is booming.Thai , Korean , Japanese and Chinese have tied up joint ventures worth over 3 billions dollars in different forms and very large investment in various projects is expected soon.
CGTD analyses that very soon Myanmar is going to change its political stand and open more and more the economy and in a shorter term allow a certain form of political opening as pressured by ASEAN, Japan, US and the EEC.
Myanmar - India - both part of British India for a long time have a lot in common and culturally Myanmar is closer to North-Eastern India than any other country of South-East Asia. Mr. U Nu and Mr. Nehru alongwith Tito, Sukarno and Zhou Enlai founded the non-alignment movement in 1954.
The SLORC [State Law and Order Restoration Council] which seized power on Sept.18 1988 has seen that true economic development of their country is only possible through open door trade policy and a more democratic approach.India-the world's largest democracy could assist the Myanmar leadership with some reforms.
SLORC's new trade policies will encourage the world community to consider investments in Myanmar which might change this impoverished nation of 40 million into an active trading nation with prosperity. CGTD analyses that SLORC is very keen to draw its economic development model from South Korea- where military leaders worked closely with select family corporations to introduce modern manufacturing techniques and competitive productivity. India's contribution would be very important in the economic development of Myanmar- marred by insurgencies since independence from British in 1948. Myanmar has extremely important potential in developing much bigger trade relations with India as it could be their major partner in all spheres as they share common history, culture and traditions. More trade with India can be a boom to Myanmar as India could provide enormous investment, technical know-how and a great assistance in developing new industries. India could absorb a larger share of Myanmar products than at present and there exists unlimited potential to create a prosperous border trade which would change the economic prospectus of border states of both the countries - presently one of the most backward areas of the world. India could also create joint ventures with Burmese companies with enormous potential of exports to nearby Vietnam, Laos, Thailand, China and Bangladesh. These countries of South-East Asia could export their products to Eastern Indian regions, which are gradually developing into fairly large markets, via Myanmar.
The genuine economic development in the NE India & Myanmar would reduce their security risks and would check all regional conflicts and further economic stagnation.
Myanmar - is very rich in Oil, Natural Gas and many supplementary minerals like silver, tin, copper, zinc, lead and tungsten - of which India is short.
Myanmar is an exporter of Rice, Teak, Minerals, Precious stones, Vegetable oils, rubber and cotton but they are all basic commodities.India presents the most important source of investments and technology to Myanmar.
Myanmar's 49% area is covered by forests and high quality teak is extracted. Myanmar have Cement, Sheet glass, fertilizers, sugar and some other basic industries but needs to develop textile, Chemical, Fertilizers, Food processing, Motor-cycles and cars, Bicycles, Mining, Wood based industries and almost all other industrial activities. India and Myanmar can develop a busy air-route in future as the area is expected to boom with greater economic activity in coming years.
Myanmar's cheaper but very educated labor pool offers, great natural resources and its proximity to India offers opportunities for both nations. Myanmar offers one of the greatest opportunities of industrialization and infra-structure and Indian business community could contribute to that. There are still various Indian communities scattered in Myanmar and very assimilated in the country. Just like India Myanmar has all religious communities - Buddhists [majority] and minorities like Muslims, Hindus and Christians, living in good harmony.
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