​India finally seems upbeat on BCIM

Usually circumspect about the four-nation BCIM development corridor, India now seems to be strongly pitching for it.

"The BCIM is the point where the markets of China join with those of South Asia and South-east Asia. This sub-region is isolated from the world market and large scale investments in infrastructure are needed to change that," said K Nagraj Naidu, who now heads the division on investment and technology promotion in the ministry of external affairs.
 
Naidu was addressing the inaugural session of the Kolkata-to-Kunming (K2K) Forum's 11th annual conference on Tuesday in Kolkata.
 
"A more interconnected region will not only be a driver for economic growth but also a harbinger of regional peace and stability," Naidu said as Chinese and Indian delegates applauded loudly.
 

Indian MEA official K Nagraj Naidu addresses the 11th K2K Forum in Kolkata Pictures by: Amit Roy

Naidu said the BCIM and K2K visions fitted squarely in India's "Act East" policy that sought to connect the country through the remote Northeast to Southeast and East Asia.

He said Prime Minister Narendra Modi has already emphasised on regional diplomacy to connect to the immediate and larger neighbourhood.

As part of the 'Act East' policy, he said, the Modi government has sanctioned 11 projects that would cost the national exchequer $ 1.5 million.

To connect all capitals of north-eastern states by rail by 2020 is part of this plan, he said.

Developing connectivity with Bangladesh and Myanmar is also part of our 'Act East' policy that fits into the plans for the Bangladesh-China-India-Myanmar (BCIM) development corridor, Naidu said.

"The eastern and north-eastern states are at the heart of the BCIM and K2K (Kolkata to Kunming) processes. Our connectivity plans with Bangladesh and Myanmar are all part of the Act East policy," said Naidu.

Indian and Chinese businessmen sign deals at the 11th K2K Forum Pictures by: Amit Roy

Naidu said that the state governments of east and Northeast India must capitalise on the opportunities created by the 'Act East' policy and the transnational; connectivity now being developed.

"These states, specially West Bengal, must explore export opportunities in Myanmar, Bangladesh and specially China to develop their economies. That will all add up to national growth," Naidu said.

West Bengal Tourism Minister Bratya Basu said the state government was looking for Chinese investments in the state.

"We are welcoming Chinese investors to invest in manufacturing. We are also looking at developing tourism between China and India on the K2K (Kolkata-Kunming) axis by exploiting historical links in contemporary conditions," Basu said at the K2K conference.

K2K Secretary General Binoda Mishra said China was, at the moment, the 'only viable source of investment for eastern and north-eastern states.

"It is investing heavily in Bangladesh and Myanmar and it makes sense for them to invest in neighbouring states of eastern and north-eastern India," Mishra said.