Tuesday, November 8, 2011

India to showcase more than 60 companies in Rangoon

Monday, 07 November 2011 20:23 Ko Pauk

New Delhi (Mizzima) – More than 60 Indian companies will participate in the trade exhibition "Enterprise India – Exclusive Exhibition of Indian Products & Services" opening on Monday at Tatmadaw (military) Hall in Rangoon.

The Confederation of Indian Industry and the Indian embassy in Rangoon jointly organize the four-day exhibition that aims to support the industrial sector of Burma and is a gathering of Indian businesspersons representing small, medium and big businesses.

The major exhibitors will show automobiles (commercial and passenger), agriculture machinery, telecommunication infrastructure, electrification equipment, renewable energy products, textiles and garments and consumer durables representing companies including Tata Motors, Mahindra and Mahindra, Shyam Telecom, Escorts, NHPC, Fedders Lloyd, Exim Bank, Ion Exchange, HMT and International Tractors.

A conference on ‘Opportunities for Strengthening Myanmar-India Trade and Economic Cooperation” will be held at the Park Royal Hotel in Rangoon on Wednesday.

Sanjay C. Kirloskar, chairman and managing director of Kirloskar Brothers Ltd, leads the Indian delegation.

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) helped facilitate the trade event. "The Indian embassy asked us to send invitations to about 50 businesses,” said an UMFCCI official.

Burma, ‬one of the world's Least Developed Countries (LDC), is a beneficiary of the Duty Preferential Tariff Scheme for LDCs announced by India last year. It has also benefited from the India-Asean Free Trade agreement.‬

Currently, the India-Burma trade volume is estimated to be USD 1,500 million. It includes timber, steel, machinery equipment, medicine and agricultural products. In September, the two countries agreed to double trade volume by 2015.

The two sides also agreed to establish a trade and investment forum, setting up markets along the border and holding regular border trade meetings.

For more information, see http://www.indiaembassy.net.mm/index.php?option=com_content&;view=article&id=139%3Aenterprise-india-show10-13-november-2011&catid=2%3Aupcoming-events&lang=en

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