Tell us what you want: India’s apex chamber to Bangladesh businesses

The India’s apex business body, Confederation of Indian Industry or CII, has urged Bangladesh business leaders to tell them what barriers they face while exporting to India as they want to help narrow down the trade gap.

CII Principal Adviser Sushanta Sen while interacting with a group of Bangladesh journalists on Wednesday said a lot of interest had been generated among the Indian businesses for the upcoming state visit of Prime Minister Sheikh Hasina.

The two-way trade has crossed $6 billion marks, but it is heavily tilted towards India.

India has provided duty-free quota-free access to Bangladesh on all tariff lines except tobacco and alcohol under SAFTA since 2011. Even then Bangladesh exported only $689.62 million in the last fiscal year. Some businesses, however, complain that they face non-tariff barriers.

Sen said they are ready to take up these obstacles to the authorities in India.

“Bangladesh must tell what they want,” he said. “They need to tell much more what they tell us now. We can take those issues to the authorities”.

“We are saying this sincerely and honestly,” he said, adding that Indian businesses are showing a lot of interest to invest in Bangladesh.

“Once they invested, they will export that from Bangladesh then it can reduce the trade gap,” he said, and also suggested Bangladesh finding new products to export such as leather, ceramics apart from readymade clothes which are also being made by India.

“Indian market is open for all. You are getting duty free access now. Why don’t you look at new products,” he said.

He said during Bangladesh prime minister’s visit they will host a business meeting on April 10 where at least 500 business people from both sides would convene.

Apart from chamber leaders, all the founders of big Bangladeshi companies such as Bashundhara and Square would accompany the prime minister.

Indian giants will also join them.

“There are a lot of happiness from the Indian side now about Bangladesh. Bangladesh had done many things for the benefit of India,” he said.

He also suggested Bangladesh invest in northeast Indian states which are bordered with Bangladesh.

CII Regional Director – International South and Central Asia Manish Mohan and Economic Policy and Research Director Shobha Ahuja were also present during the interaction.