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Gurugram, August 9 (HS). The Progressive Federation of Trade and Industry (PFTI) has also expressed full apprehension that trade will be affected due to the situation in Bangladesh. PFTI Chairman Deepak Maini said that although an interim government has been formed in Bangladesh, it may take a long time for the situation to become normal.
He said that this has strengthened the possibility of India's industry and business world being negatively affected. In the financial year 2023-24, the total value of 1154 items imported by India from Bangladesh was $ 2.02 billion, while in the financial year 2022-23 this figure was $ 1.97 billion. At the same time, many items are also exported from India to Bangladesh. Talking about the garment industry, it has a lot to do with Bangladesh.
Deepak Maini said that Bangladesh is a big trading partner of India. India is the second largest trade partner for Bangladesh after China. India has a lot of investment in Bangladesh. Akhaura-Agartala rail link, Khulna-Mongla Port rail line and Maitree Thermal Plant. Akhaura-Agartala which is the first major train service. This rail service plays an important role in connecting Northeast India with Bangladesh. Indian Railways has invested about 1,000 crores in the rail infrastructure of Bangladesh under the Line of Credit program. PFTI Chairman says that many types of products are also imported and exported from Haryana. There are more than 50 garment exporters of Delhi-NCR who set up their units in Bangladesh and export their products to India or other countries. All of them have invested about 2000 crores there. All of them are holding their breath in the current situation of Bangladesh.
According to Deepak Maini, Adani Group also has huge investments in Bangladesh. Adani Power had signed a 25-year agreement with Bangladesh Power Development in 2017. It is too early to say what will happen to this investment. Dabur, Marico, Hero MotoCorp, TVS Motor have also invested heavily in Bangladesh.
Bangladesh's dependence on India is so high that it cannot leave India under any circumstances. Hero MotoCorp and TVS have their assembling plants in Bangladesh. Indian telecom company Airtel has a 28 percent investment in Bangladesh's telecom company Robi Axiata. Recently, trade in rupees was started between India and Bangladesh. Prime Minister Narendra Modi, in his third term, signed an agreement on this with former Bangladesh Prime Minister Sheikh Hasina on June 22.
