The Financial Express

'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

| Updated: August 12, 2020 09:39:10

Lankabangla and Fianancial Express Lankabangla and Fianancial Express
'Connectivity initiatives by Bangladesh, India to reduce cost of trade'

Indian High Commissioner in Dhaka, Riva Ganguly Das on Tuesday, said the excellent state of India- Bangladesh bilateral relations and the recent connectivity initiatives taken by both the countries in railways and inland waterways will help to reduce the cost of trade.

She said it while speaking at a webinar on “India-Bangladesh Partnership– Economic revival in a post Covid-19 world”.

High Commission of India (HCI), Dhaka in collaboration with India- Bangladesh Chambers of Commerce & Industry (IBCCI) jointly organised the webinar titled “India-Bangladesh Partnership– Economic revival in a post Covid-19 world”.

Ms Das pointed out that with their resilient economies and robust business environment, both the countries will not only be able to deal with present challenges but also make use of new opportunities.

She urged the Indian business leaders to explore opportunities for collaboration and joint ventures including for exports to third countries.

More than 100 industry leaders attended the webinar.

Mrs Das highlighted the “Atmanirbhar Bharat” scheme unveiled by Indian Prime Minister Narendra Modi and said, “Atmanirbhar Bharat Abhiyan is based on five pillars – Economy, Infrastructure, Technology-driven system, Vibrant demography, and Demand”.

 A stimulus package of 21 trillion rupees under this scheme will accelerate infrastructure development, support rural economy and cottage industries, boost micro, small and Medium enterprises, improve opportunities for foreign traders and investors, accelerate agriculture mechanisation, etc in India, she added.

“Atma-Nirbhar Bharat or self reliance will allow India to identify and promote industries and sectors where it has the potential and capability to scale up and become globally competitive. “

According to Mrs Das, this will help India to become part of global value chains in collaboration with partner countries.

She said this opens huge opportunities for Indian and Bangladeshi businesses to look at sectors where they can collaborate.

Mr. Abdul Matlub Ahmed, president, India-Bangladesh Chamber of Commerce spoke on the need to capitalise on the new opportunity given to both our nations through mutual trust and cooperation.

The change in the world economic scenario is pushing India and Bangladesh as lands of great investment opportunities, he said.

He also emphasised the need for more investments, integration, cohesion, capacity building and knowledge sharing in the South Asian region to build robust trade network.

Industry leaders from the Iffad Group, Tata Motors, SBI Bangladesh, Indofil, and Shorthi Enterprises among others deliberated on the new opportunities in global trade and the regional scenario across different sectors of economy.

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