Indian business delegation to meet ministers, top officials tomorrow
First such visit since Hasina’s ouster comes amid strained trade ties
Highlights
- Delegation to meet finance and commerce ministers
- FBCCI to host luncheon with visiting delegation
- Bilateral trade currently stands at around $12 billion
- Trade restrictions continue to strain bilateral relations
An 18-member Indian business delegation representing 14 major conglomerates is scheduled to meet ministers and senior Bangladeshi officials tomorrow (18 August) during a two-day visit to Bangladesh.
The visit comes amid strained political and trade relations between the two neighbouring countries, with bilateral trade disrupted by restrictions on the use of each other's ports.
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Bangladeshi business leaders said it is the first Indian business delegation to visit Bangladesh since the fall of the Sheikh Hasina government on 5 August 2024.
The delegation is scheduled to meet Finance Minister Amir Khosru Mahmud Chowdhury and Commerce and Industries Minister Khandaker Abdul Muktadir tomorrow.
It will also attend a luncheon meeting with the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and hold talks with the Bangladesh Investment Development Authority (BIDA).
There is also a possibility that the delegation will meet Prime Minister Tarique Rahman on Tuesday before leaving Dhaka on Wednesday morning, according to sources.
The visit is considered significant as Bangladesh is prioritising foreign investment and job creation, while businesses on both sides seek to maintain commercial ties despite ongoing bilateral tensions.
The delegation is being led by Chandrajit Banerjee, director general of the Confederation of Indian Industry (CII).
Among its 18 members are Rakesh Swamy, group president of Godrej Industries; Suchitra K Ella, co-founder and managing director of Bharat Biotech International Limited; Binayak Chatterjee, founder and managing trustee of The Infravision; Param Shah, chief executive officer of Arvind Limited; P J Rajesh, chief operating officer of LMW Global; Rajesh Gupta, regional head of Mahindra Group; Krishna Khatowani, South Asia head of Godrej Consumer Products; Deepak Sharma, group head (international operations) of Forbes Marshall; and M S Guru Prasad, group head (international operations) of Apollo Hospitals.
Bilateral trade between Bangladesh and India currently stands at around $12 billion, with Bangladesh's exports to India accounting for approximately $2 billion.
Political tensions that emerged during the interim government following Hasina's ouster have continued despite initiatives by both sides to improve relations under the BNP government.
Uncertainty also remains over whether Tarique Rahman will travel to New Delhi following an invitation from Indian Prime Minister Narendra Modi.
Trade restrictions have added to the strain. India has barred the export of Bangladeshi goods through its airports, while Bangladesh has restricted the import of Indian yarn through land ports.
Meanwhile, the Bangladesh Economic Zones Authority (BEZA) has signed an agreement to establish a Chinese economic zone on land that had previously been earmarked for an Indian economic zone.
