Commerce Minister Tofail Ahmed launched the vehicle at a function at Ruposhi Bangla Hotel in Dhaka on Wednesday.
Nitol Motors Limited, sole distributor of Tata vehicles in Bangladesh, has fixed the price of the car at Tk 800,000.
But it will be selling the vehicle at Tk 700,000 until Friday as a special promotional price.
Prime Minister’s Economic Affairs Advisor Mashiur Rahman, FBCCI President Kazi Akram Uddin Ahmed, Tata Motors Head of International Business Johnny Oommen, and Nitol-Niloy Group Chairman Abdul Matlub Ahmad and Managing Director Abdul Moshabbir Ahmed were present at the ceremony.
Tata Motors introduced the 624cc Nano as a low-cost vehicle in India several years back to attract the middle-class people but the car failed to secure the desired market.
At the launch in Bangladesh, Tata and Nitol Motors urged the government to withdraw the supplementary duty on import of cars under 700cc.
The minister called on the entrepreneurs to manufacture cars in Bangladesh instead of importing them.
Now importers have to pay 45 percent supplementary duty on cars under 700cc engine.
Matlub Ahmed said: “The price of Nano will go down by Tk 110,000 at customer level if the supplementary duty is withdrawn.
“The low-income people will be buying the car more easily because of that (withdrawal of supplementary duty).”
One can purchase the four-seat car in instalments too. For that, one has to pay Tk 299,000 first up and the rest in 42 monthly instalments of Tk 19,500.
Tofail Ahmed said: “Bangladesh is advancing. We hope we’ll be a middle-income nation by 2021.
“We want this sort of cars will be made in Bangladesh. Entrepreneurs will take initiatives for that and the government will be by them.”
Mashiur Rahman and Kazi Akram echoed the views of the commerce minister.
“We want Nano to be manufactured in Bangladesh,” Rahman added.
Oommen hoped that Bangladeshi people would like Nano.
Moshabbir Ahmed highlighted the features of the vehicle. He said it is fuel efficient and can turn in only 4 feet space.
Before the launching ceremony, Nitol Motors organised a press conference on Nano where Matlub Ahmed and Oommen spoke.
Ahmed said Nano had a ‘safe box’ for keeping money or other valuables. “Nano Twist is the lone car in the world to have safe box.”
Nano offers warranty of two years for 15,000-kilometre run.
Oommen said 120,000 Nano cars were sold in India and 6,000 in Sri Lanka and Nepal.
According to Tata, Nano Twist is powered by a 624cc, multi-point fuel-injected, water-cooled and naturally-aspirated two-cylinder gasoline engine with two valves per cylinder.
The air-conditioned Nano has air extraction grill, C pillar trim and black dash in rear bumper.
Its overall length is 3099 mm, width 1495 mm, height 1652 mm and wheelbase 2230 mm.
The car is available in six colours -- damson purple, peal white, royal gold, papaya orange, silver and dazzle blue.