Indian entrepreneurs urged to invest in Bangladesh’s light engineering to tap the opportunities in emerging sector in global business.
Addressing the opening session of Indian Engineering Exhibition (INDEE) on Wednesday, Industries Minister Nurul Majid Mahmud Humayun also underscored the importance maintaining balance in bilateral trade to maintain sustainable growth.There are 40 thousand light engineering workshops in the country which maintains annual turnover of $1.6 billion include import substitute products worth of 200 million US dollars, official data shows. Minister Nurul Majid Mahmud Humayun also mentioned that the bilateral trade among two neighbours stood at $10 billion in last calendar year.
Engineering Export Promotion Council (EEPC) India organised the cross-border trade show for second time at International Convention City Bashundhara (ICCB) in the capital.
Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and other local trade bodies are partners of the event facilitated by Indian High Commission in Dhaka.
Over 120 Indian companies including state-run Indian Oil Corporation and Bharat Earth Movers and nine Bangladeshi firms participated in the bilateral business showcasing.
Industries Minister Nurul Majid Mahmud Humayun was the chief guest while Indian High Commissioner in Dhaka Riva Ganguly Das was special guest on the occasion.
Minister Humayun said the bilateral trade relationship between two neighbours has reached to new heights in last one decade as the Indian investment recorded 3.11 billion US dollars at present with a rising trend.Industries Minister further mentioned that the government has offer special economic zone for Indian entrepreneurs as the private sector entrepreneurs agreed to invest in Bangladesh during Delhi visit of Prime Minister Sheikh Hasina in 2017.
High Commissioner Riva Ganguli Das said Bangladesh Prime Minister Sheikh Hasina has announced year 2020 as the 'year of light engineering products' and INDEE 2020 provides an excellent platform to connect engineering equipment and machine providers of two neighboring countries.
Among others, EEPC India Chairman Ravi Sehgal, Senior Vice-Chairman Mahesh K. Desai, Executive Director Suranjan Gupta and FBCCI Senior Vice President Muntakim Ashraf were present on the occasion. The international exhibition at Hall-1 and 2 of ICCB is open for all from morning 11 am to 7 pm till Friday.