New Delhi: A number of Indian and Bangladeshi companies signed proposals for setting up projects in sectors such as limousine services, manufacturing three-wheelers and software development during road shows held in Chennai and Mumbai recently, officials of the Confederation of Indian Industry (CII) told Business Line.
The private sector initiative comes even as the Indian Government is doing its bit to bolster relations between the two countries.
Foreign Secretary Ranjan Mathai had told newspersons ahead of the President’s visit to Bangladesh earlier this year that Indian trade and industry had told the Government that it continues to see Bangladesh as a “very, very important partner”, and it would like to take forward plans for investment, trade and joint ventures between the two countries.
In March, senior officials of the Ministry of External Affairs had told newspersons that in the last six months or so 38 Indian investments had been registered with the Board of Investments in Bangladesh for about $183 million.
Major Indian companies such as Bharti Airtel, Tata Motors, Sun Pharma, Asian Paints, Marico, Godrej, Venky’s Hatcheries, Parle Products, Forbes and Marshall had invested in Bangladesh in the recent past.
Further, 14 projects worth nearly $736 million out of the $800-million Line of Credit which was signed between the two countries in 2010 have been approved. These include 11 projects valued at about $630 million in the railways sector for supply of locomotives, tank wagons, flat wagons and brake wagons to Bangladesh.
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