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India Invites CLMV Countries to Join the International Solar Alliance

Capital Market 

India invited the CLMV countries of Cambodia, Laos, Myanmar and Vietnam to join the International Solar Alliance as well as the Resilient Supply Chain Initiative by India, the Confederation Of Indian Industries (CII) noted in a recent update. This was stated by Mr V Muraleedharan, Minister of State for External Affairs, Government of India while addressing the Inaugural Session of the 6th India - CLMV Business Conclave 2020: Building Bridges for Constructive Development yesterday. The Minister suggested this in light of the fact that the region and India were working closely together to develop renewable sources of energy as well as form partnerships to penetrate global value chains.

Highlighting India's cooperation with the CLMV region, the Minister stated that right through the COVID-19 crisis, India provided medicines and medical supplies to the region. It has also trained medical personnel from the region under the I-TEC scheme. He mentioned that India seeks to enhance its cooperation and collaboration with the CLMV region in terms of developing a vaccine for COVID-19 and would be willing to share the vaccine as and when it is ready.

To promote cooperation with the CLMV countries, the Minister stated that a Project Development Fund for the CLMV region had been set up with a corpus of Rs. 500 crores to help incentivise Indian private sector companies to set up manufacturing facilities in the region. Lines of Credit have been extended by the Government of India to the Mekong region - of which the CLMV countries are a part. On the infrastructure front, the Minister mentioned that a number of initiatives were underway to promote connectivity with the region. These include the construction of the Trilateral Highway and the Kaladan Multimodal Transit-Transport Project.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, December 04 2020. 11:49 IST
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