Tuesday, 28 March, 2023

Set up factories in Bangladesh to produce agro-machinery

Razzaque urges Indian companies

  • Staff Correspondent
  • 28 January, 2023 12:00 AM
  • Print news
Set up factories in Bangladesh to produce agro-machinery
Agriculture Minister Muhammad Abdur Razzaque visits a stall at a three-day ‘Indo-Bangladesh Agri Mechanisation Summit’ at the International Convention City Bashundhara (ICCB) in the capital on Friday. —SUN PHOTO

Agriculture Minister Muhammad Abdur Razzaque has called upon the agro- machinery producing companies of India to set up their factories in Bangladesh to reduce production cost and take privilege in foreign direct investment (FDI).

“The present government led by Prime Minister Sheikh Hasina gives extra priority in food security of the country. If the agro-equipment manufacturers of India set up their factories in Bangladesh, we are ready with attractive package for FDI to generate more employments,” Muhammad Abdur Razzaque said while inaugurating an international agro-machanisation expo in the capital on Friday.

Tractor and Mechanisation Association (TMA) under Confederation of Indian Industry are organising the three-day expo titled “Indo-Bangladesh Agri Mechanisation Summit” at International Convention City Bashundhara (ICCB) in the capital.

Indian High Commission in Dhaka and Federation of Bangladesh Chambers of Commerce (FBCCI) are partners of the expo to share knowledge on agro-machanisation and technological innovations sectors in this region.

In his speech, Abdur Razzaque mentioned that Bangladesh now become self-sufficient in producing food grains.

“However, now the agenda of the government is to ensure food security which not only includes grain availability but also at an affordable price with high nutritional value and safe for consumption,” he said.

Razzaque also said that there is a shortage of agricultural workers in Bangladesh, especially during cultivation.

“Bangladesh is a disaster-prone country by nature. So, we have given subsidy to agriculture in 70 percent in Haor area to maintain production. That’s why, our modernisation and mechanisation of agriculture is very important to maintain production smoothly,” he said.

India High Commissioner Pranay Verma said the summit will help the development of agricultural between the two neighbouring countries.

“Agriculture has a significant contribution to the economy of both the countries. Hence, there is a huge scope for collaboration in this arena, he said.

The envoy further mentioned that the leading agro-mechanisation companies of India are interested to set up  their factories in Bangladesh.

“India is the largest export destination of Bangladesh in Asia. At the same time, Bangladesh is the largest business partner of India in South Asia. Bangladesh is a very close friend of India and both the countries are working together in various sectors,” Verma added.

FBCCI president Jashim Uddin said the recent development of Bangladesh on connectivity, use of inland waterways, transit, and transshipment through the two ports- Chattogram and Mongla towards Northeast India are very promising in terms of economic growth.

“We have special facilities for agriculture-based manufacturing units and Indian businesses can take advantage of this opportunity through joint collaboration and investment in the designated economic zones,” he said.

Jashim also invited the Indian business community to attend the upcoming Bangladesh Business Summit scheduled to be held in March.

TMA chairman Bharatendu Kapoor, president Hemant Sikka, metal managing director Sadid Jamil and ACI agro link managing director Fareyzul Haque Ansarey spoke on the occasion.