BIMSTEC transport plan will boost MSMEs in North East

New Delhi, 26 Oct (KNN) The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Nations are working on implementing transportation plan for the region to boost linkages with projects worth USD 55.2 billion.

India’s Foreign Secretary Vardhan Shringla said that this multilateral approval for robust connectivity will give a steady push to the economy of the region.

The North East of India plays a crucial role in this development as it a trillion-dollar economic opportunity which needs better transportation, border infrastructure, e-commerce integration, and modernized cross-border supply chains.

There is a good amount of scope for micro, small and medium enterprises (MSMEs) in the Northeast to grow with this agreement as its connectivity with the capital and mainland India will be redressed through connectivity in the region and neighboring countries.

The BIMSTEC comprises of Bangladesh, Bhutan, India, Nepal and Sri Lanka from South Asia and two countries - Myanmar and Thailand from the South-East Asia.