NEW DELHI, 07 September 2022: Tipu Munshi, Minister of Commerce of Bangladesh on Tuesday invited the Indian business leaders to come and invest in Bangladesh. With geo-political advantage that Bangladesh has, there are various sectors and products with huge opportunities including ceramic and glass products. “We should work together to take our relationship to newer heights,” he added.
Addressing an interactive session ‘New Horizons in India-Bangladesh Economic Relations’, organized by FICCI, Munshi stated that there is a need to further improve the connectivity to facilitate trade. Bangladesh has very progressive and industry friendly policies. “We both should work together for mutual benefit. Business can really take us to a level where everybody can see a better life both in India and Bangladesh,” he asserted.
Salman F Rahman, Private Industry and Investment Adviser to Hon’ble Prime Minister of Bangladesh highlighted the investment potential in Bangladesh and stated, “Garments has been our dominant sector and going further, as part of our next level of growth, we are looking at export diversification.”
Rahman said that agriculture has been one of the many success stories of Bangladesh and in today’s world after the pandemic, food security has been critical for every country. “We want to further capitalize on our manufacturing capabilities along with agro processing business in Bangladesh,” he added.
Rahman while inviting the Indian industry to come and invest in Bangladesh said that the industry should also look at improving the markets in the North-eastern region in India. “When you (industry) look at the Bangladesh market, don’t just look at this market but combine it with the North-east market. Both, Bangladesh and North-east market offers good transit facility including road, railway and waterways and it will be a win-win for both Bangladeshi and Indian businesses,” he added.
He also appreciated the efforts taken by the Indian government to supply COVID vaccines to Bangladesh during the pandemic.
Md Jashim Uddin, President, Federation of Bangladesh Chambers of Commerce and Industry said that enhanced trade co-operation between India-Bangladesh can be critical in developing a stronger relationship between the businessmen of the two countries.
Manoj Chug, Chair, FICCI South Asia Regional Council and President- Group Public Affairs & Member of the Group Executive Board, Mahindra & Mahindra Ltd said that Bangladesh is incredibly important to us and all Indian businesses in Bangladesh are looking at accelerating the pace of doing business.
Abdul Matlub Ahmed, President, India-Bangladesh Chamber of Commerce and Industry said that CEPA discussion has started which will benefit both the countries. “We need to think of a global value chain,” he added.
Arun Chawla, Director General, FICCI said that India and Bangladesh are uniquely positioned to tap unexplored potential in every aspect of the economy. “The visit of Hon’ble PM of Bangladesh will open new window of cooperation between India and Bangladesh,” he added.
Shubhransh Srivastav, General Manager- Corporate Affairs Subcontinent, DP World; Anurag Mehrotra, Vice President, International Business & Strategy, Commercial Vehicles Business Unit, Tata Motors; Jithu Jose, VP-International Business Development, Apollo Hospitals Group also shared their perspective on the potential that India and Bangladesh offer.
