'Connectivity initiatives by B'desh, India to reduce cost of trade'

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Dhaka, Aug 12 (IANS) Indian High Commissioner in Dhaka, Riva Ganguly Das said ,the excellent state of Indo-Bangla bilateral relations and the recent connectivity initiatives taken by both the countries in railways and inland waterways will help to reduce the cost of trade.

Das highlighted the "Atmanirbhar Bharat" scheme unveiled by Indian Prime Minister Narendra Modi and said, "Atmanirbhar Bharat Abhiyan is based on five pillars - Economy, Infrastructure, Technology-driven system, Vibrant demography, and Demand."

While speaking at a webinar organised by High Commission of India (HCI), Dhaka and India- Bangladesh Chambers of Commerce & Industry (IBCCI) Das urged the Indian business leaders to explore opportunities for collaboration and joint ventures including for exports to third countries.

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

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

"Atmanirbhar Bharat will allow India to identify and promote industries and sectors where it has the potential and capability to scale up and become globally competitive," she added.

According to Riva Ganguly Das, this will help India to become part of global value chains in collaboration with partner countries.

She said this opens huge opportunities for Indo-Bangla businesses to look at sectors where India can collaborate.

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

The change in the world economic scenario is pushing India and Bangladesh as lands of great investment opportunities, he said.

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

Industry leaders across different sectors of the economy of Bangladesh attended the webinar from Iffad Group, Tata Motors, SBI Bangladesh, Indofil, and Shorthi Enterprises among others deliberated on the new opportunities in global trade and the regional scenario.

--IANS

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