Union Cabinet Gives Green Single to Creation of PDF to Catalyze Indian Economic Presence in CLMV countries [ Current Affairs ]
Union cabinet has given green signal to the A project Development fund (PDF) so now Indian economy came in the row of the CLMV countries such as Cambodia, Laos Myanmar and Vietnam with 5000 crore and also kept in Department of Commerce
- EXIM Bank will operate it.
- The Inter-Ministerial Committee will be formed which will operates PDF and headed by chairperson of the Commerce Secretary.
- The PDF implementation will creates paths for industrial community business in the CLMV countries and along with this it also maintain cost competitive supply chains and links India with global production networks.
- CLMV countries (Cambodia, Laos, Myanmar and Vietnam) reserved important and different place in the regional value chains in Southeast Asia region.
- They have huge market access to China, European Union and other markets based on many trade agreements.
- So this has attract India to join CLMV because it will help india to gain key advantage position in regional value chains on a long term basis
- it will also helpful to get dedicated market for Indian raw materials and intermediate goods and dedicated source of raw materials for Indian industry.
- Published on: September 2, 2016