Indian airlines can now operate flights to Myanmar as the country has
granted traffic rights to India-based carriers paving the way for air
connectivity between the nations.
“Yes, we (Indian airlines) got the fifth freedom rights which is a major
concession,” Commerce and Industry Minister Anand Sharma said in
Yangon.
The fifth freedom rights allow an airline carry revenue traffic between
countries as a part of services connecting the airline’s own country.
At present, there is no direct air connectivity between India and Myanmar.
Indian private carrier SpiceJet has expressed interest to fly from Delhi to Dhaka, continuing on to Yangon.
“SpiceJet has applied to fly on this route under the fifth freedom
rights,” an official said adding the regulatory approval is awaited for
the same.
During his visit to Myanmar, Mr. Sharma held bilateral meetings with
various ministers including Foreign Minister U Wunna Maung Lwin,
Commerce Minister U Win Myint, Energy Minister U Than Htay and
Communications and IT Minister U Myat Hein and discussed ways to
strengthen the political, economic and cultural ties between the two
nations.
Besides, India has asked Myanmar to seriously consider the bids of
Indian telecom companies like Bharti Airtel for expanding telephone
services in its nation.
In a meeting with Mr. Hein, Mr. Sharma discussed the selection process for telecom companies which is going on in Myanmar.
The Myanmar government had called for bids for two telecom licences and
shortlisted 12 applicants. Bharti Airtel has submitted its final bid for
telecom licence in the country.
Other Indian companies which are upbeat on business prospects in
resource-rich Myanmar include few oil firms — ONGC Videsh Ltd and Oil
India, besides banks like SBI and Bank of India.
Mr. Sharma has said that over the next few years, “We will see an investment of around $2.6 billion from India to Myanmar.”
India is the tenth largest investor in Myanmar with an investment estimated at $273.5 million.
Indian companies like Tata Motors, Essar Energy, Escorts, Sonalika
Tractors, Zydus Pharmaceuticals, Ranbaxy and Cadila Healthcare already
have their presence in Myanmar.
source: The Hindu
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