Indian investors are keen to invest in health, education and IT sectors in Bangladesh, business leaders from West Bengal have said.
Chandra Shekhar Ghosh, president of The Bengal Chamber of Commerce and Industry (BCCI) and managing director and CEO of Bandhan Bank Ltd, spoke to reporters after a B2B meeting at the auditorium of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) in Dhaka on Wednesday.
Chandra Shekhar led an 18-member trade delegation from BCCI to Dhaka.
He said that Bangladesh has been doing very well in terms of per capita income which is $1,752 now.
“The country is an emerging market and there are so many potential areas to invest,” he said.
Urging all parties to help increase bilateral border trade between the two countries, he also underscored the importance of infrastructure development of land ports of both Bangladesh and India.
“Indian investors are also interested in township development, steel manufacturing, IT, health, education, nursing institutes in Bangladesh,” Chandra Shekhar said.
“We will sign an agreement soon to strengthen the relations between the two countries. We discuss various issues with our government from time to time. We will present to them in the business matters. Such this relation will effect positively on our economy.
FBCCI President Md Shafiul Islam Mohiuddin said: “The relations between the two countries has reached a turning point. We can solve all problems soon including non-tariff barriers, border issues and others business problems.
“While doing business, we face some bureaucratic problems in the both the countries. We hope that these issues will be resolved and business will be sped up by through our cooperation and friendship. This will help strengthen both the economies,” he added.
Angana Guha Roy Chowdhury, deputy director of BCCI, said, As many industries are being built in Bangladesh. So you need more support that’s why we visited here.
FBCCI Director Shomi Kaiser said: “We have cultural trade between West Bengal and Bangladesh, and our economy is being developed by this relation.”
She also urged Indian investors to come forward to help develop ICT infrastructure in Bangladesh.
FBCCI President Mohiuddin presided over the function. FBCCI Senior Vice President Sheikh Fazle Fahim conducted the open discussion while directors and members of FBCCI were present.
Sheikh Fazle Fahim, the MD of Obsidian Group, underscored on knowledge exchange and technology development in nurturing the trade relations between the two countries.
The West Bengal delegation also visited the Dhaka Chamber of Commerce and Industry (DCCI) on the same day.
DCCI President Abul Kasem Khan urged to remove the trade barriers between Bangladesh and India.
He said Bangladesh exported $672.404 million worth of products to India and imported $6,146.2 million worth of products from India in 2016-17.
Abul Kasem also said that recently the demand for two-wheelers has increased in Bangladesh and the Indian businesses should invest in this market.
He invited Indian entrepreneurs to invest in the tire manufacturing industry as well.
“Geographically Bangladesh is situated in a suitable region from where export to China, Asean and the Indian seven sister states is convenient,” he said.
Saying that recently India had imposed anti-dumping duties on Bangladesh’s export of jute to India, Abul Kashem urged the concerned Indian agencies to reconsider the decision.
DCCI Vice President Riyadh Hossain said: “Bangladesh is improving in the IT sector. Bangladeshi youth are interested to do IT business. Indian IT entrepreneurs should invest in Bangladesh’s IT and software industry.”
DCCI Director Kh Rashedul Ahsan urged the Indian authorities to ease Indian visa processing for Bangladeshi nationals.
Major exports from Bangladesh to India include jute and jute goods, woven garments, agricultural products, engineering products and knitwear. On the other hand, India exports textiles and textile articles, vegetable products, machinery, mechanical appliances and electrical equipments to Bangladesh.
DCCI Senior Vice President Kamrul Islam FCA, Directors Hossain A Sikder, Engr. Md. Al Amin, Mohammad Bahsiruddin, SM Zillur Rahman and Secretary General AHM Rezaul Kabir were also present at the meeting.