2 task forces proposed to boost Bangladesh-India trade, investment
Commerce ministry and Confederation of Indian Industry stress efficient land ports, Indian investment in infrastructure, and digital cooperation
The Confederation of Indian Industry (CII) has proposed forming two joint business task forces on digital transformation and infrastructure investment and financing to strengthen trade and investment ties between Bangladesh and India.
Indian businesses and investors have also stressed the need to make cargo handling at land ports, including Benapole, faster and more efficient.
Commerce Minister Khandaker Abdul Muktadir shared the details with reporters after a meeting with a visiting CII delegation at the commerce ministry in Dhaka today (18 August), according to a press release.
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The delegation included leaders of India's leading business body and representatives of several prominent companies, some of which already have investments in Bangladesh.
Muktadir said Indian companies operating in Bangladesh had raised concerns over difficulties in transporting raw materials and goods through land ports.
Improving cargo handling efficiency at Benapole specifically and easing cross-border movement of goods would reduce transportation and raw material costs and boost bilateral trade, he said.
The Indian business representatives proposed two business-to-business task forces involving entrepreneurs from both countries.
One task force would focus on sharing India's experience and cooperation in digital transformation, while the other would explore ways to increase Indian investment and financing in Bangladesh's infrastructure sector.
The proposal is also expected to be discussed with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).
Welcoming the initiative, the commerce minister said Bangladesh would require major infrastructure investment to become a trillion-dollar economy, including in railways, highways, ports, and LNG infrastructure.
He said Indian investment in these sectors would be viewed positively if it proved beneficial for Bangladesh.
Muktadir said political and commercial relations could not be viewed entirely separately, but greater trade, investment, and business engagement would benefit both countries.
Citing the European Union and other regional trade blocs, he said regional cooperation was important for economic progress.
