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Confederation of Indian Industry (CII) has said that Bangladesh is a golden gate of opportunities for Indian businesses, and a winning combination of competitive market, business-friendly environment and competitive cost structure, media reports say.
Kris Gopalakrishnan, President, CII and Co-Founder and Executive Vice Chairman, Infosys Limited, highlighted the positive points in the bilateral talks between the two countries pointing out, "The interesting feature in bilateral economic engagement between India and Bangladesh is that despite common economic advantages, our two nations have evolved in different industry sectors. While garments and agricultural products are exported from Bangladesh, Indian exports include automotives and pharmaceuticals.
We feel that Indian investment in Bangladesh with the possibilities of re-export to India would help in diversifying the exports of Bangladesh and thereby reduce the trade gap between India and Bangladesh."
Elaborating further he said, "This meet offers Investment opportunities in the Joint Venture mode in 23 projects with a net value of USD 186.5 million. The 13 important sectors for the Joint venture partnerships include Agro Processing, Automobiles, Ceramics, Chemicals, Gems and Jewellery, Light Engineering, ICT, Hospital and Medical Equipment, Pharmaceuticals, Plastics, Professional Services, Tourism, Textiles (including home textile) etc to attract foreign investments in the country. "
He highlighted that India has offered Bangladesh the zero-duty exports facility under the Least Developed Country initiative. He urged the companies to take advantage of this facility to export to India and other countries.
Adi Godrej, Past President Confederation of Indian Industry and Chairman, Godrej Group said, "Bangladesh is a winning combination of competitive market, business - friendly environment and competitive cost structure.
The Risk factors for FDI are minimal and the country has consistently grown at 6% GDP over the years. Bangladesh offers a well educated, highly adaptive and industrious workforce with the lowest labour cost in the Region.
It offers the most liberal FDI regime in South Asia allowing 100% foreign equity ownership with unrestricted exit policy, remittance of royalty and repatriation of equity and dividend. In addition to this, Bangladesh enjoys duty free access to India, European Union, Canada and Japan and is an attractive destination for potential exporters. India and Bangladesh have signed the Bilateral Investment Promotion and Protection Agreement and Avoidance of Double Taxation Agreement. This encourages us to explore the opportunities in Bangladesh."
He informed the gathering that a large number of Indian firms from both public and private sector have been working on different turnkey projects in Bangladesh. The sectors include power, transmission lines, telecom, textiles, chemicals and pharmaceutical, glass, plastics and engineering.
He added, "During my interactions in Dhaka, I felt that the Government of Bangladesh facilitates and provides all the support to the potential investors from India with the facilities for land allocation, gas / power/ electricity connection, working capital, and fast track documentation including visa facilitation. We are happy to note that with this encouragement, there are 270 direct and joint venture proposals from India constituting US $2.5 billion that have been registered with Board of Investment till December 2012. The major sectors of Indian interest include Agro- Based, Textile, Chemical industries, Engineering and Service Industries which in turn have created 51,653 jobs in Bangladesh. Yet I strongly believe that at USD 2.5 billion, the Indian Investment into Bangladesh is far below the actual potential."
CII underlines investment-prospect in Bangladesh - bdnews24.com
Kris Gopalakrishnan, President, CII and Co-Founder and Executive Vice Chairman, Infosys Limited, highlighted the positive points in the bilateral talks between the two countries pointing out, "The interesting feature in bilateral economic engagement between India and Bangladesh is that despite common economic advantages, our two nations have evolved in different industry sectors. While garments and agricultural products are exported from Bangladesh, Indian exports include automotives and pharmaceuticals.
We feel that Indian investment in Bangladesh with the possibilities of re-export to India would help in diversifying the exports of Bangladesh and thereby reduce the trade gap between India and Bangladesh."
Elaborating further he said, "This meet offers Investment opportunities in the Joint Venture mode in 23 projects with a net value of USD 186.5 million. The 13 important sectors for the Joint venture partnerships include Agro Processing, Automobiles, Ceramics, Chemicals, Gems and Jewellery, Light Engineering, ICT, Hospital and Medical Equipment, Pharmaceuticals, Plastics, Professional Services, Tourism, Textiles (including home textile) etc to attract foreign investments in the country. "
He highlighted that India has offered Bangladesh the zero-duty exports facility under the Least Developed Country initiative. He urged the companies to take advantage of this facility to export to India and other countries.
Adi Godrej, Past President Confederation of Indian Industry and Chairman, Godrej Group said, "Bangladesh is a winning combination of competitive market, business - friendly environment and competitive cost structure.
The Risk factors for FDI are minimal and the country has consistently grown at 6% GDP over the years. Bangladesh offers a well educated, highly adaptive and industrious workforce with the lowest labour cost in the Region.
It offers the most liberal FDI regime in South Asia allowing 100% foreign equity ownership with unrestricted exit policy, remittance of royalty and repatriation of equity and dividend. In addition to this, Bangladesh enjoys duty free access to India, European Union, Canada and Japan and is an attractive destination for potential exporters. India and Bangladesh have signed the Bilateral Investment Promotion and Protection Agreement and Avoidance of Double Taxation Agreement. This encourages us to explore the opportunities in Bangladesh."
He informed the gathering that a large number of Indian firms from both public and private sector have been working on different turnkey projects in Bangladesh. The sectors include power, transmission lines, telecom, textiles, chemicals and pharmaceutical, glass, plastics and engineering.
He added, "During my interactions in Dhaka, I felt that the Government of Bangladesh facilitates and provides all the support to the potential investors from India with the facilities for land allocation, gas / power/ electricity connection, working capital, and fast track documentation including visa facilitation. We are happy to note that with this encouragement, there are 270 direct and joint venture proposals from India constituting US $2.5 billion that have been registered with Board of Investment till December 2012. The major sectors of Indian interest include Agro- Based, Textile, Chemical industries, Engineering and Service Industries which in turn have created 51,653 jobs in Bangladesh. Yet I strongly believe that at USD 2.5 billion, the Indian Investment into Bangladesh is far below the actual potential."
CII underlines investment-prospect in Bangladesh - bdnews24.com
