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India relates container port tender to FDI

  • Published at 07:36 am June 4th, 2013
India relates container port tender to FDI

Indian High Commissioner Pankaj Saran Monday said the tender for feasibility study on the Narayanganj container port was related to a proposal of foreign direct investment (FDI) from a Bangladeshi company to an Indian one.

Clarifying his country’s position on the Narayanganj container port issue, Saran said New Delhi had no intention to violate any norms on intergovernmental behaviour.

“I clarified to the foreign secretary that this is a case of proposal for a foreign direct investment made by a Bangladeshi company to an Indian company,” the Indian envoy said after having a meeting with Foreign Secretary Md Shahidul Haque at the ministry Monday.

“We are extremely sensitive to the concerns and apprehensions that have been raised here on the Narayanganj project,” Saran told reporters.

A section of Bangladeshi media recently reported that India floated a tender notice for conducting a feasibility study on the Narayanganj container terminal keeping Bangladesh in dark.

The foreign secretary said the Indian high commissioner informed him that it was related to FDI and “it is at the initial stage.”

Saran said the Container Corporation of India felt the need to do a feasibility study before it could take any investment decision.

“If and when we do take or the company concerned does take this decision, it will have to be fully in accordance with the national laws, policies and procedures of the government of Bangladesh.”

On the land boundary agreement, Saran said his government would try to place it in the next parliament session for ratification. “In the last parliament session the bill could not be tabled but I have told the [Bangladesh] foreign secretary that in the next parliament session, the government of India will again try to introduce the bill in parliament. And we are in touch with the opposition parties in India to develop political consensus.”

Indian External Affairs Minister Salman Khurshid tried to place the land boundary agreement bill in the last Rajya Sabha session but failed because of strong resistance from the opposition parties.

Saran said the foreign secretary and he also reviewed the progress of the line of credit. “I also in fact mentioned to the foreign secretary that the day after tomorrow [Wednesday] the Confederation of Indian Industry and the Board of Investment will sign an agreement on road shows in India by the Board of Investment for encouraging Indian investment in Bangladesh.”