The Government of India has been promoting a major development project - the Kaladan Multimodal Project, which aims to connect northeast India with Myanmar. It is one of the most ambitious projects of India, aiming to facilitate better cross-border trade between the two countries.
What is Kaladan Multimodal Project?
The Kaladan Multimodal Project is expected to provide an alternative route for transporting goods between India and Myanmar through Mizoram and Myanmar via the sea. The project agreement was signed by the two countries back in 2008.
In 2008, the proposed budget for this project was Rs. 536 crores. However, by 2021 it crossed over Rs. 32,000 crores. Since then, the project has been under development and was expected to get completed in 2021. The completion date was further revised and is expected to be completed by 2023.
The Kaladan Multimodal Project aims to promote economic development in the region, apart from providing easy access to the remote areas of the northeastern states of India.
Significance of the Kaladan Multimodal Project
For a country like India with a vast coastline, the development of coastal regions, particularly the east coast, is significant in achieving balanced growth.
The Kaladan Multimodal Project is an important initiative that will provide a vital link between India and Myanmar and among different parts of the north-eastern region.
It is also expected to positively impact the socio-economic development of the north-eastern region.
Furthermore, the Kaladan Multimodal Project will also provide India with faster and more affordable access to its northeastern states by allowing India to bypass China.
☛ Also Get: Today's Current Affairs PDF
Top Advantages of Kaladan Multimodal Project
- The project aims to increase cross-border trade, connectivity, and development between India and Myanmar.
- The project is expected to boost the economy of Mizoram, which shares a border with Myanmar, through better connectivity.
- The project will facilitate access for India to the Bay of Bengal through Myanmar's Sittwe Port.
- It is also expected to boost the economy of northeast India through a route that bypasses Bangladesh, which does not allow the passage of Indian goods to the northeastern states.
In the brief introduction to Kaladan Multimodal Project, it was stated that this project is significant since there is a great deal of trade between Myanmar and India. Hence, it is important to have a good infrastructure for business people and other common folks to travel conveniently from one country to another. The Kaladan Multimodal Project plays a key role in studying both countries' present and future business needs for trade advantages.
FAQs on Kaladan Multimodal Project
Q 1. What is the Kaladan Multimodal Project?
The Kaladan Multimodal Project is a project between Myanmar and India. The project aims at connecting Myanmar with Mizoram via sea to facilitate cross-border trade and better connectivity between the two countries.
Q 2. Which two countries have signed the Kaladan Multimodal Project?
India and Myanmar have signed the Kaladan Multimodal Project.
Q 3. When was the Kaladan Multimodal Project agreement signed?
The Kaladan Multimodal Project was signed by India and Myanmar back in 2008.
Q 4. How does the Kaladan Multimodal Project help the two countries?
The Kaladan Multimodal Project is one of the biggest steps toward border trade development between Myanmar and northeastern India, increasing bilateral trade between the two countries. Furthermore, it will lead to better socio-economic changes in both regions.
Q 5. When will the Kaladan Multimodal Project be completed?
Earlier it was expected to be completed by 2021. However, the dates have been revised. The Kaladan Multimodal Project is now expected to be completed by 2023.