India And Myanmar To Enhance Bilateral Trade Via Rupee-Kyat Settlement Mechanism

India and Myanmar agreed on Monday to expand bilateral trade through the Rupee-Kyat settlement mechanism and deepen cooperation in sectors such as agro-processing, petroleum, energy, and mining. The discussions took place during high-level talks between Prime Minister Narendra Modi and Myanmar President Min Aung Hlaing in New Delhi. According to a joint statement, ‘Both sides agreed to facilitate and enhance bilateral trade, including through the Rupee-Kyat settlement mechanism, and appreciated the steady growth in the volume of transactions recorded since its operationalisation in May 2024.’

Trade expansion and investment focus

‘Both sides also expressed support for closer trade and investment cooperation in the areas of mutual interest, such as agro-processing, petroleum, energy, and mining sectors, in accordance with their respective national laws and regulations,’ it added.

India – Myanmar Joint Statement during the Official Visit of the President of Myanmar to India

The statement reads, “…The Prime Minister underlined that enhanced connectivity would foster mutually beneficial economic linkages and shared prosperity in the region. In this…

— ANI (@ANI) June 1, 2026

The Myanmar president is on an official visit to India from May 30 to June 3 at the invitation of Prime Minister Narendra Modi. This marks his first foreign visit after assuming office as President of Myanmar in April.

High-level talks and strategic review

During their talks at Hyderabad House, PM Modi and President Min Aung Hlaing reviewed bilateral, regional, and global issues. The joint statement said India described Myanmar as central to its Neighbourhood First, Act East, and MAHASAGAR policies, with discussions covering trade, defence, border management, and development cooperation. On connectivity, PM Modi underlined that ‘enhanced connectivity would foster mutually beneficial economic linkages and shared prosperity in the region.’

Both sides reiterated the importance of completing the Kaladan Multi-Modal Transport project and the India-Myanmar-Thailand Trilateral Highway. Foreign Secretary Vikram Misri noted that Myanmar assured India it would take steps to push these delayed projects forward despite security challenges. The joint statement also said discussions on bilateral agreements and MoUs are ongoing, and both sides hope for an early conclusion.

Scholarships and strategic assurances

The statement added that India will increase Mekong Ganga ICCR scholarships for Myanmar students from 36 to 100 starting in 2026. Reaffirming cooperation, both sides stressed the importance of ensuring that sovereign territory is not misused for activities affecting security interests.

President Min Aung Hlaing reiterated Myanmar’s assurance that ‘its territory would not be permitted to be used against India’s security interests.’ Foreign Secretary Vikram Misri also said that Prime Minister Modi raised concerns about insurgent activity near India’s border areas originating from Myanmar.

‘There is the very important question of the activities of Indian insurgent groups in Myanmar close to our borders. And this is something again that the Prime Minister raised with the President,’ Misri said. He added that Myanmar reaffirmed its commitment to addressing these concerns and preventing any threat to India’s security.

President Min Aung Hlaing also met President Droupadi Murmu at Rashtrapati Bhavan, where she described Myanmar as India’s ‘gateway to Southeast Asia,’ highlighting the strategic importance of bilateral ties. He also met External Affairs Minister S. Jaishankar and National Security Adviser Ajit Doval during his visit.

Visit itinerary and broader engagement

The Myanmar President’s visit included stops at Bodh Gaya, where he offered prayers at major Buddhist sites, highlighting civilizational and cultural ties between the two countries. He also participated in the India-Myanmar Business Conclave in New Delhi and visited the NTPC NETRA facility in Greater Noida to observe clean energy and research initiatives.

The visit concludes with further engagements in Mumbai from June 2 to June 3. The joint statement noted that business and government interactions during this visit are expected to further strengthen trade, investment, and cooperation between the two countries. President Min Aung Hlaing thanked Prime Minister Narendra Modi for the ‘warm hospitality’ and extended an invitation for a future visit to Myanmar.

(Inputs From ANI)

ALSO READ: ‘World’s Highest Junkyard’? Viral Mount Everest Video Exposes Camp IV’s Growing Trash Crisis