Indian business delegation in Dhaka, first since August 2024
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 will meet ministers and senior Bangladeshi officials today during a three-day visit aimed at strengthening bilateral trade, investment and economic cooperation.
The delegation, led by Chandrajit Banerjee, director general of the Confederation of Indian Industry (CII), arrived in Dhaka yesterday and is scheduled to meet Finance Minister Amir Khosru Mahmud Chowdhury and Commerce and Industries Minister Khandaker Abdul Muktadir tomorrow (18 August).
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It will also hold talks with the Bangladesh Investment Development Authority and attend a luncheon hosted by the Federation of Bangladesh Chambers of Commerce and Industry.
There is also a possibility that the delegation will meet Prime Minister Tarique Rahman before leaving Dhaka on Wednesday morning, according to sources.
Among the delegates are Rakesh Swamy, group president of Godrej Industries; Suchitra K Ella, co-founder and managing director of Bharat Biotech International Limited; and Binayak Chatterjee, founder and managing trustee of The Infravision.
The delegation also includes business leaders from Arvind Limited, LMW Global, Mahindra Group, Larsen & Toubro (L&T), Forbes Marshall, Numaligarh Refinery Limited, Apollo Hospitals and Indian Oil Corporation, along with CII Secretariat officials.
The meetings will focus on strengthening bilateral trade and investment, expanding business-to-business ties, addressing issues of mutual interest and identifying new areas of economic cooperation.
The delegation will also interact with leading Bangladeshi businesses and industry representatives at the FBCCI luncheon, where Environment, Forest and Climate Change Minister Abdul Awal Mintoo will be the chief guest.
Bangladeshi business leaders said this is the first Indian business delegation to visit Bangladesh since the ouster of the Sheikh Hasina government on 5 August 2024.
The visit comes amid continued political and trade tensions between the two neighbours. Bilateral trade has been disrupted by restrictions on the use of each other's ports. India has barred Bangladeshi exports through its airports, while Bangladesh has restricted imports of Indian yarn through land ports.
Meanwhile, the Bangladesh Economic Zones Authority has signed an agreement to establish a Chinese economic zone on land previously earmarked for an Indian economic zone.
Political tensions that emerged after Hasina's ouster have continued despite efforts by both sides to improve relations under the BNP government. Uncertainty also remains over whether Tarique Rahman will visit New Delhi following an invitation from Indian Prime Minister Narendra Modi.
Against this backdrop, Bangladeshi business leaders view the visit as significant as the country seeks to attract foreign investment and create jobs. Bilateral trade currently stands at around $12 billion, with Bangladesh exporting about $2 billion to India.
The delegation's visit is expected to help revive business-to-business engagement, identify emerging areas of cooperation and build on the longstanding economic ties between the two countries.
