Indian industrialists keen to invest in Bangladesh

A delegation from the Confederation of Indian Industries (CII), led by its President, Mr. Adi Godrej, met Hon’ble Foreign Minister Dr. Dipu Moni, MP, at her office in the afternoon. The high powered delegates represented by big Indian Corporates such as Kenventer Agro Ltd, Feedback Infrastructure Services Ltd., CEAT Ltd., Ashok Leyland, NIIT Ltd., TATA International Ltd., Bajaj Auto etc. The delegation, is visiting Bangladesh from 20-22 July 2012, with a view to strengthening bilateral economic relations with Bangladesh.

The Foreign Minister welcomed the delegation of CII to Bangladesh and expressed her happiness that one of the apex chambers of India had come to Bangladesh to explore business opportunities. She said that the two countries, enjoying excellent bilateral relations, now need to work on trade facilitation measures to ensure a win win situation which would contribute to the economic development of both the countries. She appreciated the Prime Minister of India for providing duty free access to 46 textile items from Bangladesh into the Indian market which has helped to create a tremendous pool of goodwill among the business community in Bangladesh who noted that India was making sincere efforts to balance the trade gap between the two countries. She stressed that India, as big neighbour and emerging economic power, may encourage more exports from Bangladesh and to this effect, she urged the business delegates from India to play a productive and helpful role.

On the issue of investment, the Foreign Minister mentioned that her government is following a very liberal policy on foreign investment and would welcome Indian investors in Bangladesh. She emphasised that there are multiple sectors that the Indian private entrepreneurs could explore for investing or setting up joint venture companies, particularly in areas such as hospitality, tourism, power, infrastructure, health care, RMG and textiles, ICT, telecommunications, etc. for mutual benefit.

Mr. Adi Godrej, the leader of delegation, said they are having a very fruitful visit to Bangladesh. He said that trade between the countries is far below the potentials. He requested the Foreign Minister to allow Bangladesh territory to export Indian goods to North-Eastern Indian states. He assured that they would make an effort to boost Bangladesh export to India especially in North-Eastern states.

The delegation showed their keen interest to invest in Bangladesh in sectors like infrastructure, power, gas and oil.

The meeting held in a very cordial and forthcoming atmosphere.