India-Bangladesh Business

twitter.com/ihcdhaka Indian High Commissioner Pranay Verma spoke at the exchange event with business leaders

Indian High Commissioner exchanges views with Bangladeshi business leaders

At the time, High Commissioner Verma said, "The visionary leadership of Prime Minister Narendra Modi and Prime Minister Sheikh Hasina in emphasizing on growing economic engagement between the two countries has significantly transformed our bilateral relations. Bilateral trade has more than doubled in the last five years. Bangladesh's exports to India in the last financial year were about US$ 2 billion. India has become a major export destination for Bangladesh in Asia due to dollarization."

Indian High Commissioner Verma emphasized the importance of the Comprehensive Economic Partnership Agreement (CEPA), which both sides agreed to negotiate. In this regard, there is a possibility of increasing bilateral trade and investment relations by creating a new institutional framework and supply chain linkages.

He emphasized the importance of improved connectivity and trade infrastructure along the border, which would help both India and Bangladesh to tap the full potential of the economic partnership through rapid economic development. In this context, he stressed the need to reduce pressure on ICP Petrapol-Benapole through infrastructural improvements at other land ports and increase the number of unrestricted ports, which would encourage investment in land ports.

The Indian High Commissioner also highlighted the need for greater cooperation, integration and multi-modal connectivity of the sub-region through road, rail, inland waterways and coastal shipping. This interactive session was attended by top business leaders and heads of business chambers of Bangladesh. A delegation of the Society of Indian Automobile Manufacturers who arrived in Dhaka also participated in the event.