Tipu urges Indian businesses to explore more scopes in Bangladesh together

Commerce Minister Tipu Munshi said that Indian businesses should explore more scopes in Bangladesh. 

"Please do come and invest in Bangladesh. My suggestion to business people is to come to Bangladesh and see it. We have the scope of exports. We should work together, there is a lot of scope," the commerce minister said while speaking to the press in New Delhi, reports the Economic Times. 

"The Comprehensive Economic Partnership Agreement (Cepa) with India will definitely happen, but it will take some time. Bangladesh wants to do it as soon as possible," he added. 

Tipu Munshi said that government policies in Bangladesh are in favour of businesses.

The commerce minister said that big Indian companies like Ashok Leyland want to invest in electric cars or hybrid automobiles.

He also said that Prime Minister Sheikh Hasina invited Narendra Modi to visit the Padma Bridge. Because it is not only Bangladesh, but all the countries in this region will benefit more or less.

The bilateral trade between Bangladesh and India has jumped to $18.2 billion in 2021-22 as compared to $10.8 billion in 2020-21. 

India's main exports include cotton, fuel, auto components and machinery. While imports include apparel and textiles.

Prime Minister Sheikh Hasina on Wednesday (7 September) called Bangladesh the most liberal nation for investment, urging Indian investors to invest largely in her country's infrastructure, manufacturing, energy and transport sectors.

"I would urge Indian investors to consider possible investments in infrastructure projects, manufacturing, in energy and transport sectors. Indian investors and business houses can set up industries in Bangladesh through Buy-Back arrangements by reducing time, cost and resources," she said.

She also said that Bangladesh has the most liberal investment regime in the region with a wide array of facilities, attractive incentive policies, and consistent reforms.