18-member Indian business team due in Dhaka today

A high-level 18-member delegation from the Confederation of Indian Industry (CII), one of India’s leading business organisations, is arriving in Dhaka today (August 17) to strengthen trade and investment ties between Bangladesh and India.

The delegation will remain in Bangladesh until August 18.

Officials from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and CII said an advance team has already arrived in Dhaka to make preparations for the visit.

The visit comes amid tensions in bilateral relations between the two countries. Trade and business ties have also been affected by various port-related restrictions imposed by both sides over the past two years.

Against this backdrop, the Indian delegation’s visit is being viewed as an important initiative to revive trade and investment relations between the two countries.

During the visit, the delegation is scheduled to meet Commerce Minister Khandaker Abdul Muktadir, State Minister for Foreign Affairs Shama Obaed, and Finance and Planning Minister Amir Khosru Mahmud Chowdhury.

Meetings are also planned with officials of the FBCCI and the Bangladesh Investment Development Authority.

An FBCCI official said the delegation has expressed interest in meeting the prime minister, although no official details have been announced regarding the proposed meeting.

Representatives from several major Indian companies are part of the delegation, including Godrej Industries, Arvind Limited, Infravision Foundation, LMW Global, Mahindra Group, Godrej Consumer Products, Larsen & Toubro, Forbes Marshall, Numaligarh Refinery, Beximco IOC Petroleum and Apollo Hospitals.

Bangladesh and India currently conduct around $12 billion in annual bilateral trade. Bangladesh’s exports to India amount to around $2 billion, significantly lower than the value of goods it imports from India.

The CII describes India as Bangladesh’s largest trading partner in South Asia and says it wants to further strengthen commercial ties between the two countries.

According to the Indian business organisation, economic cooperation is one of the key foundations of bilateral relations.

It said trade between Bangladesh and India could increase significantly by expanding market access, reducing non-tariff barriers and improving border infrastructure.