Can India and Myanmar Achieve $5 Billion in Bilateral Trade by 2030?
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Synopsis
India and Myanmar aim for a remarkable $5 billion bilateral trade target by 2030. This ambitious goal was set during a recent meeting where both nations discussed enhancing trade mechanisms, improving connectivity, and fostering cooperation across various sectors, setting the stage for a mutually beneficial economic partnership.
Key Takeaways
- $5 billion trade target set by 2030.
- Bilateral trade reached $2.15 billion in 2024-25.
- Focus on enhancing the Rupee-Kyat trade mechanism.
- Potential cooperation in multiple sectors.
- Importance of border trade posts reaffirmed.
New Delhi, Jan 21 (NationPress) India and Myanmar set an ambitious goal of $5 billion for bilateral trade by 2030 during a meeting of senior officials. This meeting addressed numerous topics, such as enhancing the Rupee–Kyat trade settlement framework and optimizing the benefits of the ASEAN–India Trade in Goods Agreement (AITIGA).
Bilateral trade between these two nations reached $2.15 billion in the fiscal year 2024–25, indicating a robust growth trajectory.
The discussions in Nay Pyi Taw also focused on enhancing connectivity, broadening market access, simplifying financial transactions, improving border infrastructure, and restarting border trade posts, as stated by the Commerce Ministry.
The meeting was co-chaired by U Minn Minn, Deputy Commerce Minister of Myanmar, and Nitin Kumar Yadav, Additional Secretary of Commerce. Officials from relevant ministries from both nations actively participated.
Myanmar expressed gratitude to India for maintaining a supportive policy climate for its exports, especially in the pulses and beans sector, as noted in an official statement.
Areas of potential collaboration were also explored, focusing on sectors like textiles, transport, connectivity, capacity building, customs and border management, shipping, power, information and communication technology (ICT), micro, small, and medium enterprises (MSMEs), health, pharmaceuticals, and agriculture. Both nations agreed that enhanced cooperation in these sectors could lead to sustained long-term benefits and strengthen mutual support.
The strategic importance of the Tamu–Moreh and Rhi–Zokhawthar border trade posts in facilitating cross-border commerce was reaffirmed. The Indian delegation reiterated its request for the prompt reopening of these land border points, emphasizing the need for an Integrated Check Post at Tamu to further improve trade efficiency.
Both parties confirmed their dedication to completing the review of the ASEAN–India Trade in Goods Agreement (AITIGA) swiftly, aiming to make it simpler and more beneficial for both sides. They also agreed to bolster cooperation across all discussed areas and maintain consistent communication among relevant agencies to ensure effective follow-up, as stated.
The next meeting of the India–Myanmar Joint Trade Committee (JTC) is scheduled to take place in New Delhi.
Point of View
I firmly believe that the renewed focus on India-Myanmar trade relations stands to benefit both nations significantly. By addressing key issues such as connectivity and market access, they can foster a more robust economic partnership, essential for regional stability and growth.
NationPress
21/01/2026
Frequently Asked Questions
What is the trade target set by India and Myanmar?
India and Myanmar have set a target of $5 billion for bilateral trade by 2030.
What was the bilateral trade amount for 2024-25?
The bilateral trade between India and Myanmar reached $2.15 billion during 2024-25.
What are some areas of cooperation discussed?
Some areas of cooperation include textiles, transport, ICT, agriculture, and pharmaceuticals.
Where will the next Joint Trade Committee meeting be held?
The next meeting of the India-Myanmar Joint Trade Committee will be held in New Delhi.
