Atmanirbhar Bharat scheme to promote Indo-Bangla trade

Diplomatic Correspondent

12 August, 2020 12:00 AM printer

Atmanirbhar Bharat scheme to promote Indo-Bangla trade

Indian High Commissioner to Bangladesh Riva Ganguly Das has said the Atmanirbhar Bharat scheme will open up a huge opportunities of joint collaboration between Indian and Bangladeshi businesses.

She said this self reliance plan will allow India to identify and promote industries and sectors where it has the potential and capability to scale up and become globally competitive. “This will help India to become part of global value chains in collaboration with partner countries.”

“This opens huge opportunities for Indian and Bangladesh businesses to look at sector where they can collaborate,” said the Indian envoy while speaking at a webinar to discuss “India-Bangladesh Partnership– Economic revival in a post Covid-19 world” on Tuesday.

The High Commission of India (HCI), Dhaka in collaboration with India- Bangladesh Chambers of Commerce & Industry (IBCCI) jointly organised the event in which more than 100 industry leaders attended.

 High Commissioner Riva Ganguly Das highlighted the “Atmanirbhar Bharat” scheme, which was rolled out under the leadership of Prime Minister of India Narendra Modi, is based on five pillars – economy, infrastructure, technology-driven system, vibrant demography, and demand.

A stimulus package of 21 trillion rupees under this scheme will accelerate infrastructure development, support rural economy and cottage industries, boost micro, small and medium enterprises, improve opportunities for foreign traders and investors, accelerate agriculture mechanisation, etc in India.

Abdul Matlub Ahmed, President, India-Bangladesh Chamber of Commerce, spoke on the need to cash in on the new opportunity given to both the nations through mutual trust and cooperation.

He said the change in the world economic scenario is pushing India and Bangladesh as the land of great investment opportunities.

Matlub emphasised on the need for more investments, integration, cohesion, capacity building and knowledge sharing in the South Asian region to build robust trade network.

Industry leaders from the Iffad Group, Tata Motors, SBI Bangladesh, Indofil, and Shorthi Enterprises, among others, deliberated on the new opportunities in global trade and the regional scenario across different sectors of economy. The Indian High Commissioner expressed hope that the excellent India- Bangladesh bilateral relations and the recent connectivity initiatives taken by both the countries in railways and inland waterways will help reduce the cost of trade.

She added that with their resilient economies and robust business environment, both the countries will not only be able to deal with present challenges but also make use of new opportunities.

She urged the Indian business leaders to explore opportunities for collaboration and joint ventures for exports to third countries, given the excellent manufacturing environment, vibrant demography and favorable investment atmosphere prevailing here.