Analysis of the Connectivity Parameters of the Proposed Trilateral Highway (TH) between India, Myanmar and Thailand (IMT), The Industrial Corridor and its Impact on the Economic Development of Southeast Asia
The proposed Trilateral Expressway passing between India, Myanmar and Thailand (IMT) is regarded as a groundbreaking project aimed at establishing smooth connectivity in the region of South Asia and Southeast Asia. This paper examines the multidimensional impact of the IMT expressway on trade, commerce and cultural ties in the region. It reviews the financial prospects of the participating nations as a result of implementation of the proposed project. Even though the IMT expressway claims high cut-offs in the time and costs of logistics, creation of new markets and stronger cultural exchanges in the region, it is susceptible to several adverse conditions and obstacles. The political unrest and security issues in Myanmar, a major participant of the project raise serious concerns in reaping the complete benefits of the of the project. Discrepancies in the regulatory mechanisms and lack of synchronization in allocation of funds for the project are few other impediments of this venture. The paper views that despite several impediments and adversities, the IMT expressway would become a turning point in the history of the three nations and the whole region. It can largely contribute to the long-term cooperation and economic progress of the region.