'India must focus on expanding banks network in CLMV nations'

Expansion of Indian banks network in CLMV - Cambodia, Laos, Myanmar and Vietnam - countries would help in enhancing trade and investment relations with these nations, a report has suggested.
"No amount of commercial and economic linkages especially in the framework of regional value chains would be possible without enhancing the number of Indian banks present in Cambodia in their full-fledged form rather than just being reprensentative offices," the government sponsored report said.
The Commerce and Industry Ministry report - "India's Strategy for Economic Integration with CLMV" was prepared by think tank Research and Information System for Developing countries (RIS).

The report also recommended for creation of a dedicated web portal on India-CLMV economic linkages.
India is focusing on these four countries as they are one of the fastest growing economies in the region and holds huge potential for investments.
"The under development of CLMV is a developmental opportunity for India...The present levels of economic linkages, including trade and investment, between the two remains weak and low," the report said.

It said that India must engage with these four countries as India-CLMV could be an important bedrock for RCEP (regional cooperation economic partnership) negotiations where India can get support from these countries.

"We need to adopt an integrated approach. For this to happen, trade in goods, trade in services and especially India's outward FDI to CLMV region need to have integrated policy responses whereby inter linkages across these are well recognised," it said.
Further, it said that India must economically integrate with these countries due to enormous comparative advantage.