Indian businesspersons want to expand business in Bangladesh

Indian business leaders have expressed keen interest in expanding trade and investment in Bangladesh, emphasizing the need to eliminate tariff and non-tariff barriers and create an easier business environment between the two nations.

During a luncheon meeting at the Federation Building in Motijheel, the high-level delegation from the Confederation of Indian Industry (CII) shared this interest with the leaders of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade body of Bangladesh on Tuesday.

Environment, Forest and Climate Change Minister Abdul Awal Mintoo attended the meeting as the chief guest. The session was presided over by FBCCI Administrator and former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Fazlul Hoque. The Indian trade delegation was led by CII Director General Chandrajit Banerjee.

Following the meeting, Fazlul Hoque and Chandrajit Banerjee briefed journalists at a press conference regarding the discussions, alongside members of the Indian delegation and three former FBCCI presidents.

During the press briefing, it was announced that the Indian delegation proposed the formation of two joint task forces: one focused on private investment in infrastructure and public-private partnerships (PPPs), and another dedicated to future-oriented industries such as semiconductors, green hydrogen, battery storage, and data centers. Bangladeshi business leaders welcomed the proposal, and a committee will be formed to outline the structure and operations of the two task forces.

Chandrajit Banerjee stated that Indian businesses are eager to scale up trade and investment in Bangladesh, stressing that building trust among the business communities of both countries is crucial. According to him, without increasing mutual dialogue, resolving existing commercial hurdles will remain difficult.

Noting that several Indian enterprises already operating in Bangladesh are part of the delegation and are not facing major operational issues, Banerjee added that enhanced communication between business communities will foster stronger mutual relations.

FBCCI Administrator Fazlul Hoque mentioned that the discussions heavily focused on non-tariff barriers in bilateral trade between Bangladesh and India, alongside the complexities Indian businesspersons and investors face regarding visa acquisition.