Myanmar has consistently registered an impressive growth over the last decade following a series of reforms taken up by the South East Asian country after facing decades of isolation and stagnation owing to the internal political situation. India and Myanmar relations have historially been strong owing to geographical proximity and cultural commonalities. Post liberalisation, the bilateral relations between the two countries have been growing strongly driven by common aspirations of their people and mutual cooperation in areas ranging from trade and business to capacity building.
Endowed with natural resources coupled with its strategic location, Myanmar is key to the success of India’s Act East Policy, which was revised under the current government to provide more depth to its engagement with southeast Asian and East Asian nations. With the frequency of engagement at the highest level of government in both countries increasing significantly, new areas of cooperation have emerged. The Tri-nation Highway connecting India with Myanmar and Thailand is a case in point, which is expected to create new horizons of growth by immensely benefitting the three countries when connected together by it.
Myanmar is also sitting on a rich oil and gas reserves, which is key to further fuel the economic growth of India and provide it energy security closer home. To tap this opportunity, Indian oil and gas companies have already started setting up their operations in Myanmar, which has welcomed them with an open arm.
This special issue of eGov focuses on key opportunities Myanmar offers to India by giving better insights into the India-Myanmar bilateral relations, emerging business opportunities, infrastructure support offered by Myanmar and the great tourism potential this beautiful land possesses as one of the world’s last countries having unchartered territories, lush green forests, and sun-soaked beaches.
Due to the renewed interest of the countries around the world in Myanmar, the country has also been witnessing substantial growth in Foreign Direct Investment (FDI). However, India’s private sector has been slow to respond to this changing trend. There are huge opportunities awaiting the Indian private sector in Myanmar in Health, Education, Agriculture, Power, Technology industries, etc.
I hope this issue will be a useful resource for understanding Myanmar in a new light and help both the countries in their growth by strengtheing mutual cooperation.