If anyone have not looked into the detail it will enter Bangladesh from North east and leave Bangladesh and will go to west Bengal. So there will be no direct connectivity with Myanmar. Thats the main dark side of this proposal and the meaning of this proposal is to give transit to India indirectly. However this can be used as a starting point to make a direct land route connection with Myanmar which can eventually go up to South East Asia.
1) Perhaps, Myammar is not willing to connect with BD or with the outside world, at least for now.
2) On the other hand, India wants to connect both with NE and China.
3) BD does not want to connect with NE, but with China and ASEAN.
4) Again, China wants to connect with India for its trade.
The real world is full of compromises. If China really wants a route via NE, and Burma does not open up soon, BD may have swallow the Chinese offer to connect through NE because it is the most practical route pending Burmese acceptance through its territory.
In such a case, China may be made interested to build the deep sea port in Cox's Bazaar. BD gets its port business and China gets the shortest route to its mid-south.
However, BD can bar this NE route from being used as an Indian domestic transit route, and will only be used for international trade among the countries.
China understands Burmese mind and has therefore proposed the NE route, I guess. China has very little trade with BD, but has a large trade with India.
I have been thinking why suddenly China floated this idea that may be rejected by BD, and have come up with the explanation I wrote above.
The thinking may be flawed. So, please send opinions.