CNI News
June 5, 2026
President U Min Aung Hlaing stated during the Myanmar-India Business Forum held in Mumbai, India, on June 3 that discussions were held with Indian Prime Minister Narendra Modi to target and advance bilateral trade value toward $5 billion.
He said, "When I met and discussed with the Prime Minister of India, bilateral trade stood at only over US$ 2 billion. Therefore, discussions were successfully held to achieve US$ 3 billion as the first stage and to aim for US$ 5 billion as the second stage."
Regarding this goal, U Aung Pyae Sone, a businessman, told CNI News that the government needs to formulate efficient export-import policies that effectively facilitate trade.
He stated, "Trade with India exists to a certain extent. Regarding imports and exports, rather than the government exercising strict control, they need to establish policies that enable fast and effective exportation. Furthermore, we need to create a situation where we can distribute and diversify our trade through various trade stations, instead of relying solely on major border trade stations like Myawaddy and Muse as we did in the past. Only then can we ensure that even if one trade zone has to close due to regional instability or conflict, we can still export through the remaining zones. Therefore, instead of relying only on massive trade zones, it would be best if small zones could be opened at the respective borders to provide a One-Stop Service system."
Indian Prime Minister Modi and President U Min Aung Hlaing
President U Min Aung Hlaing stated that according to data released by Myanmar, Myanmar's exports reached US$ 1.326 billion in the 2025-2026 fiscal year, while India's exports to Myanmar ranged between US$ 600 million and US$ 800 million.
He also noted that India's major exports included pharmaceuticals, petroleum products, chemicals, motor vehicles and spare parts, electrical appliances, motorcycles and spare parts, as well as tractors and related accessories.
Businessman U Aung Pyae Sone told CNI News that President U Min Aung Hlaing's visit to India was highly beneficial for Myanmar.
Bilateral border trade gates
He said, "Generally speaking, we learned that President U Min Aung Hlaing made efforts to increase bilateral trade value to 3 billion in the first stage and up to 5 billion in the second stage, as well as to attract Indian investments to Myanmar. However, we will likely get to know the details soon once these matters are discussed and approved by the Parliament. That being said, a volume of 3 billion is substantial. India is one of the world's economic superpowers, possesses a massive population, and has a vast territory. Moreover, among the neighboring countries sharing a border with us, India has maintained a good relationship with Myanmar. Therefore, this trip to India can be assessed as highly beneficial for us. Indian investments could flow into the garment sector as well as the automobile assembly and manufacturing sector."
President U Min Aung Hlaing stated that India currently ranks as the 11th largest investor in Myanmar, with 39 investment projects totaling US$ 782.385 million.
The President also mentioned that a Kyat-Rupee direct payment mechanism has already been agreed upon to boost bilateral trade, and Myanmar is keen to import more goods from India.
