MUMBAI, June 3, 2026 – Myanmar and India aim to boost their bilateral trade volume to $5 billion, Myanmar President U Min Aung Hlaing announced during the Myanmar-India Business Dialogue held on 3 June at The Taj Mahal Palace hotel in Mumbai, India.
“A prior Myanmar-India Trade and Investment Dialogue was also held in New Delhi, successfully securing agreements to promote bilateral economic cooperation. Given these developments, I would like to assure Indian officials that they can cooperate with Myanmar with full confidence,” the President stated.
Step-by-Step Trade Goals
During the dialogue, it was highlighted that India currently stands as Myanmar’s fourth-largest trading partner. With current bilateral trade hovering just over $2 billion, President U Min Aung Hlaing outlined a phased roadmap to scale up economic ties:
▪ Phase 1: Increase trade volume to $3 billion.
▪ Phase 2: Reach the ultimate target of $5 billion.
According to data from the recently concluded 2025–2026 fiscal year, Myanmar’s exports to India amounted to $1.326 billion, while imports from India ranged between $600 million and $800 million. A key focus of the recent discussions centered on implementing a Rupee-Kyat direct payment system to facilitate smoother transactions.
Key Import and Export Sectors
The two nations discussed optimizing their trade portfolios to better meet mutual demands:
▪ Myanmar’s Export Interests: Pulses and beans, oilseeds, marine products, forestry products, textiles, and rubber.
▪ Myanmar’s Import Interests: Iron and steel, cement, pharmaceuticals, petroleum products, and renewable energy equipment, including solar technology.
Investment Invitations and High-Tech Collaborations
India currently ranks as the 11th largest foreign investor in Myanmar, with a total investment volume exceeding $94 billion.
Capitalizing on this baseline, President U Min Aung Hlaing invited Indian entrepreneurs to invest in Myanmar’s core agricultural sector, bio-energy production, and world-class pharmaceutical manufacturing. He placed special emphasis on moving away from exporting raw minerals, urging investments in value-added mineral processing, information technology, digital services, and high-tech industries.
This state visit marks a strategic step aligned with India’s “Act East Policy” and “Neighborhood First Policy.” Both nations look to accelerate economic and trade momentum ahead of the 80th anniversary of Myanmar-India diplomatic relations in 2028.
Following the conclusion of the business dialogue, the President and his delegation visited the Gateway of India, a historic landmark in Mumbai. Officials conducted a guided tour, briefing the delegation on the monument’s history and its unique architectural blend of Islamic and Hindu styles.