India-ASEAN Trade Figure Jumps 13.6%

GUWAHATI: The India-ASEAN trade in the year 2017-18 stood at $81.33 billion, registering a jump of 13.64% over the year 2016-17, stated Minister of Development of North-Eastern Region (DoNER) Dr Jitendra Singh in written reply to a question in Lok Sabha on Wednesday.

The focus has been on the development and prosperity of the northeastern States by improving connectivity, access and facilities to the region through various initiatives including improving connectivity of the Northeast region with Bangladesh, improving access from Myanmar to facilitate tourism and cross border connectivity, promotion of land border crossing agreement and integrated check post at Moreh and infrastructure projects like India-Myanmar-Thailand trilateral highway, Kaladan Multi Modal Transit Transport Project in Myanmar, the minister said.

Under the 3 lines of credit worth about $8 billion extended by India to Bangladesh, the Central Government has undertaken several projects to enhance connectivity with our Northeast region through Bangladesh.

India has disbursed around $ 1.04 billion in grant projects, and has extended concessional loans of $ 478.9 million from India’s LOC amount of around US $750 million to Myanmar. Projects on grant funding include connectivity infrastructure projects like Kaladan Multi Modal Transit Transport Project, upgradation of 69 bridges and building the Kalewa Yargi road segment on the Trilateral Highway. Our line of credit projects include purchase of railway engines and rolling stock, establishment of data link, telecommunication projects etc., the minister said in his reply to the House. (PIB)

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