About 100 cos participating in India Show in Dhaka
Around 100 companies, including Tata Motors, Ashok Leyland and BHEL, will showcase their products in the 'India Show' which is starting tomorrow at Dhaka in Bangladesh, industry body Ficci said Sunday.
New Delhi: Around 100 companies, including Tata Motors, Ashok Leyland and BHEL, will showcase their products in the 'India Show' which is starting tomorrow at Dhaka in Bangladesh, industry body Ficci said Sunday.
In the three-day event, about 100 companies will exhibit items such as textiles and handicrafts, automobile and spare parts, garment, consumer products, jewellery, health care, education, information technology and light engineering, Ficci, which is organising the fair, said.
A 50-member business delegation, headed by Minister of State for Commerce and Industry D Purandeswari, would visit the neighbouring nation and is expected to interact with Bangladesh Prime Minister Sheikh Hasina, the chamber said.
There is a lot of investment and trade potential between the two countries which needs to be explored, Ficci President R V Kanoria said.
"The show would facilitate business partnerships between India and Bangladesh businessmen and tap new opportunities," he said.
The potential areas of investments by Indian firms in Bangladesh include automobiles, manufacturing, textiles, tourism, food processing and energy, he said.
To strengthen the framework for trade and investment, both the nations had signed a treaty on bilateral investment and protection.
Also, Ceat and Marico have announced their plans to invest in Bangladesh.
Investments by companies like Bharti Airtel and Tata's International Ltd in Bangladesh stood at about USD 850 million till 2010-11.
Further, Kanoria said, the delegation would also take up issues related to tariff and non-tariff barriers to bilateral trade, customs cooperation, visa and finance during interactions with senior Bangladesh leaders.
Besides, the delegation is expected to meet Bangladesh Minister for Finance Abul Maal Abdul Muhith, Foreign Minister Dipu Moni and Minister for Industries Dilip Barua, the chamber said.
The bilateral trade between the two nations is about USD 4.3 billion. However, the trade balance is in favour of India.
Kanoria said that for a sustainable bilateral exchange, Bangladesh needs to diversify exports to India.
India's exports to Bangladesh include cotton, cereals, nuclear reactors, boilers and machinery. While imports from the neighbouring country comprise edible fruit and nuts, fish, apparel and textiles articles.