Bilateral trade between India, Myanmar increased despite of West bloc sanctions
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Hsu (NP News) - Feb 14
Although the western bloc imposed sanctions on Myanmar, the bilateral trade between Myanmar and India increased in 2021-22 FY, according to the Indian news agencies.
According to India’s Neighborhood First Policy, the bilateral #trade between #India_and_Myanmar reached up to 1.89 billion dollars in 2021-22 FY which stands the highest figure within five years between the two countries.
As per reports, India-Myanmar trade were 1.61 billion dollars in 2017-18 FY, 1.73 billion dollars in 2018-19 FY and 1.52 billion dollars in 2019-20 FY respectively. Moreover, it was 1.30 billion dollars in 2020-21 FY, and increased to 1.89 billion dollars in 2021-22 FY.
In 2021, Myanmar exported more than 800-million-dollar worth rice, beans and peas, wood, forest products, fruits and grains to India. India exported more than 1000-million-dollar worth goods mainly pharmaceutical items and medicines, electronic appliances, cottons and other related gadgets and machineries.