Indian High Commissioner Vikram K Doraiswami said Bangladesh is a good home for investment and that’s why the Indian companies that have already invested, they are reinvesting in this country.
“The Foreign Direct Investment (FDI) of Indian companies in Bangladesh is over US$ 3 billion. The investment of Indian companies in Bangladesh is increasing. If you look, the companies that have already invested in the country, they are reinvesting,” he said.
The Indian High Commissioner said this while speaking at a seminar for ‘Business and Economic Journalists’ at Indian High Commission in Dhaka on Sunday.
Indian High Commission in Dhaka organized the seminar to discuss the immense scope for improving bilateral trade relations between India and Bangladesh.
Vikram K Doraiswami said there is huge trade potential between Bangladesh and India if Dhaka improves process of ease of doing business and completes the development of connectivity.
“India is giving duty free access to its market almost all products except 25 products of Bangladesh, including alcohol, to reduce the trade gap between the neighbouring nations since 2011,” he added.
Doraiswami said Bangladesh’s export does is not dependents on single product rather the export is diversifying, like plastic, food processing, leather and etc.
The data of bi-lateral trade shows that the trade is still in favour of India but the situation is improving year on year as the export of Bangladesh is increasing, he said. The Indian envoy said now India is the top export destination of Bangladesh with $1279.67 million in fiscal year 2019-20 followed by Japan with $1183.64 million.