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Bangladesh's export to India could increase by nearly 300% if connectivity improves: Indian Envoy
02 May, 2023, 01:20 pm
Last modified: 02 May, 2023, 01:31 pm
Photo: Collected
[IMG alt="Photo: Collected
"]https://www.tbsnews.net/sites/default/files/styles/big_2/public/images/2022/11/22/export.jpg[/IMG]
Photo: Collected
The High Commissioner of India to Bangladesh Pranay Verma said that Bangladesh's export to India could increase by nearly 300% if connectivity improves.
"Studies indicate that seamless connectivity between India and Bangladesh has the potential to increase national income by 17% in Bangladesh and 8% in India," he said at a seminar titled "Multimodal Connectivity between India and Bangladesh" on Tuesday organised by Unnayan Shamannay.
Since 2011, the export of Bangladeshi products to the country has been increasing, and in the last 10 years, it has increased almost four times.
In the 2011–12 fiscal year, Bangladesh exported goods worth $51.25 million to India, which increased to $199 million in the last fiscal year of 2021–22.
According to Bangladesh Bank's data analysis, in the fiscal year 2017-18, goods worth $8.62 billion were imported from India.
And in the last fiscal year 2021–22, the imports almost doubled to $16.16 billion.
Pranay Verma said, "To optimise the potential for better connectivity, we hope to gain greater access to and from Bangladesh's ports, inland waterways and road links. We also offer Bangladesh options to use our ports, railways and airports to export goods to India and to the rest of the world."
"Just as we look to improve our connectivity of our north-eastern states through Bangladesh, we are also encouraging transit facilities for Bangladesh to export its product to third countries through specified land custom stations, airports and seaports in India," he added.
"A recent initiative in this regard is the addition of Kolkata and Delhi airports as transhipment hubs for export cargo from Bangladesh to other countries. In this regard, Bangladesh's business has more options for export to third countries.
He mentioned that they have concluded a bilateral agreement on the use of Chattogram and Mongla Ports whereby goods can be transported to India's North-Eastern region from the rest of India and vise-versa through these two ports in Bangladesh.
"It will reduce the cost of transportation to our northeastern estates," he added.
He said, the geographical proximity of India and Bangladesh is the advantage and should be leveraged for mutual benefit. Better connectivity is a need for ease of doing business and ease of living, both of which are key priorities for India, he added.
Unnayan Shamannay Chairperson Dr Atiur Rahman was the keynote speaker at the seminar.
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TBS Report02 May, 2023, 01:20 pm
Last modified: 02 May, 2023, 01:31 pm
Photo: Collected
[IMG alt="Photo: Collected
"]https://www.tbsnews.net/sites/default/files/styles/big_2/public/images/2022/11/22/export.jpg[/IMG]
Photo: Collected
The High Commissioner of India to Bangladesh Pranay Verma said that Bangladesh's export to India could increase by nearly 300% if connectivity improves.
"Studies indicate that seamless connectivity between India and Bangladesh has the potential to increase national income by 17% in Bangladesh and 8% in India," he said at a seminar titled "Multimodal Connectivity between India and Bangladesh" on Tuesday organised by Unnayan Shamannay.
Since 2011, the export of Bangladeshi products to the country has been increasing, and in the last 10 years, it has increased almost four times.
In the 2011–12 fiscal year, Bangladesh exported goods worth $51.25 million to India, which increased to $199 million in the last fiscal year of 2021–22.
According to Bangladesh Bank's data analysis, in the fiscal year 2017-18, goods worth $8.62 billion were imported from India.
And in the last fiscal year 2021–22, the imports almost doubled to $16.16 billion.
Pranay Verma said, "To optimise the potential for better connectivity, we hope to gain greater access to and from Bangladesh's ports, inland waterways and road links. We also offer Bangladesh options to use our ports, railways and airports to export goods to India and to the rest of the world."
"Just as we look to improve our connectivity of our north-eastern states through Bangladesh, we are also encouraging transit facilities for Bangladesh to export its product to third countries through specified land custom stations, airports and seaports in India," he added.
"A recent initiative in this regard is the addition of Kolkata and Delhi airports as transhipment hubs for export cargo from Bangladesh to other countries. In this regard, Bangladesh's business has more options for export to third countries.
He mentioned that they have concluded a bilateral agreement on the use of Chattogram and Mongla Ports whereby goods can be transported to India's North-Eastern region from the rest of India and vise-versa through these two ports in Bangladesh.
"It will reduce the cost of transportation to our northeastern estates," he added.
He said, the geographical proximity of India and Bangladesh is the advantage and should be leveraged for mutual benefit. Better connectivity is a need for ease of doing business and ease of living, both of which are key priorities for India, he added.
Unnayan Shamannay Chairperson Dr Atiur Rahman was the keynote speaker at the seminar.
Bangladesh's export to India could increase by nearly 300% if connectivity improves: Indian Envoy
The High Commissioner of India to Bangladesh Pranay Verma said that Bangladesh's export to India could increase by nearly 300% if connectivity improves. "Studies indicate that seamless connectivity between India and Bangladesh has the potential to increase national income by 17% in Bangladesh...
