India and Myanmar Strengthen Ties Through Energy and Trade Cooperation

India is enhancing ties with Myanmar by improving grid connectivity and supplying petroleum products to mitigate Myanmar's energy shortages. Ambassador Abhay Thakur highlighted India's strategic energy cooperation focus. India is also exploring coastal shipping agreements and increasing trade settlements in local currencies to boost bilateral relations.

India is forging stronger ties with Myanmar by actively pursuing agreements to enhance grid connectivity and supply petroleum products, according to Indian Ambassador Abhay Thakur. On Friday, Thakur told PTI that India's strategic focus on energy cooperation has become a cornerstone of its relationship with the Southeast Asian nation.

Thakur stressed the importance of these partnerships in stabilizing Myanmar's energy supply and diversifying its energy needs, with a current heavy reliance on China. In pursuit of this collaboration, India is in the process of formalizing a coastal shipping agreement to efficiently deliver petroleum products, such as gasoline and diesel, to Myanmar.

The ambassador also highlighted logistical advantages, such as shorter shipping times from India's east coast, and efforts to increase trade settlements in rupees and kyats. This collaboration is expected to facilitate smoother energy transactions and decrease dependence on third-country currencies. Additionally, India is sharing solar energy expertise under the Joint Working Group on Power and pledged support for Myanmar's post-earthquake reconstruction efforts.

(With inputs from agencies.)