India is a Global bright spot with a strong desire to grow even more: PM

NEW DELHI: The Prime Minister,ShriNarendraModihas shared an article titled "Will India be the breakout emerging market this decade?" byCapitalGroup.

The Prime Minister tweeted: "Youngsters and entrepreneurs will find these 9 points interesting. And yes, India is a global bright spot with a strong desiretogrowevenmore!"

India eyes 5,000 km Eastern Regional Waterways grid connecting Bangladesh, Myanmar: Sarbananda Sonowal

NEW DELHI: Eyeing a greater presence along the South East Asian trade route, and countering China’s dominance in the region, India is engaging with its two key neighbours, Myanmar and Bangladesh, pushing for better port and waterways connectivity acrossa5,000km–oddgrid.

Apart from investment in ports and a multi-modal logistics hub in Myanmar, India is also engaging with Bangladesh for dredging activities across connecting waterways while linking its own inland waterways network with the neighbourhood’s ports, says Sarbananda Sonowal, Union Minister for Ports, Shipping andWaterways(MoPSW).

The idea, he tells during an exclusive interaction, is to to connect India to trade routes linking Thailand and other ASEAN nations like Laos, whilealsoensureaccesstoSingapore port, a key touch point on the internationalshippingroute.

“The Eastern Regional Waterways Grid, covering some 5,000 kms, will cover our own inland waterways and river networks, Bangladesh ports, and investment in Myanmarport,”Sonowaladded.

Operations recently began at the Sittwe Port in Myanmar, that were partly financed by India, and the first batch of cargo movement between KolkataandSittwehashappened.

Following a pilot shipment of rice to Bangladesh in March 2023, the first official cargo of 20,000 bags comprising 1,000 metric tonnes of cement, was flagged off in May and wasreceivedafewdayslater.

The Sittwe Port is a seaport designed to handle 20,000 DWT (dead weight tonnage) at its maximum capacity. At present, it is operated for 6,000DWTwithadraftof7.9meters.

“However, the same will be increased to its maximum capacity with the enhancement of available draft for accommodating large cargo ships,”Sonowalexplained.

Operations at the Sittwe port have been hit following Cyclone Mocha on May 15. And the port jetty is operational only for relief materials for Sittwe town and for adjoining areas,portofficialsadded.

SonowaladdedIndiancargoliners are already using the India –Bangladesh protocol route for better regional connectivity. The routes include Kolkata – Pandu – Kolkata; Kolkata – Karimganj – Kolkata; Rajshahi – Dhulian – Rajshahi and Pandu–Karimganj–Pandu.

Recently, Bangladesh gave India access to transport goods to the North East through its Chattogram and Mongla ports. Indian traders have to pay a transshipment fees (andsomeotherfeestoo).

“Movement of cargo ships in the neighbourhood are up substantially,” Sonowalsaid.