Following the closures of trade outposts by India due to the Covid-19 pandemic, the Myanmar-India border trade is down by over 40% for the current fiscal year started October 1st, 2019. From USD 128 million for the same period last FY, the trade value went down to about USD 76 million this year, or a decrease of 40%.
India trades with Myanmar in Mizoram, Manipur, Tamu, Reed, and Thantlang borders. On March 10th, the local government on the Indian side had decided to close border gates indefinitely at the Tamu (Sagaing Region) – Moreh (Manipur in India) crossing.
India has been a major trading partner of Myanmar since the 2 countries signed the India-Myanmar trade agreement in 1970.
India is the 5th largest export destination for Myanmar and 6th largest source of imports according to figures from the Indian Embassy in Myanmar. Also in March, the two governments had announced plans to import 400,000 tonnes of black gram beans from Myanmar between May 2020 and March 2021.