India International Times Latest Business News from India
A Festival of India is being organized in Cambodia from 10th January to 16th February, 2017 featuring Ramayana Performance, Rajasthani Folk Music and Dance Group (Manganiyar Group) and Classical Dance.
A Buddhist Mahotsav – Exhibition titled Dhamma Darshana – to explore the life, teachings and important events connected with Lord Buddha and Photo Exhibition on Buddhist religious/heritage sites in India will also be organized, said a statement.
To complete the experience, a Food Festival will also be held and the Festival events are being showcased in three cities of Phnom Penh, Siem Reap and Battambang in Cambodia.
Cambodia is among the four Souteast Asian nations — Cambodia, Laos, Myanmar and Vietnam — (CLMV Region) where India is keen to increase its economic presence and a Project Development Fund (PDF) with a corpus of Rs 500 Crore was set up last year by the government.
These four nations offer a gateway for market access to China/EU and other markets due to various trade agreements for India. The key advantage of positioning India on the regional value chains is securing on a long term basis, a dedicated market for Indian raw materials and intermediate goods besides a dedicated source for inputs and raw materials for Indian industry.
While opportunities are a plenty in CLMV region, Indian entrepreneurs’ endeavors in these countries have, thus far, been limited due to limited information, infrastructure and other contingent risks. The fund is created to benefit India’s industrial community for business expansion, and to maintain cost competitive supply chains, besides integrating with global production networks.
