Stating that he was conscious of the huge trade imbalance, Prime Minister Narendra Modi on Saturday assured that India would do everything to bridge the deficit between the two neighbouring nations.
“I am conscious of the huge trade imbalance, despite duty free and quota free access to Bangladesh in India on all but 25 items. Yet, I have assured Prime Minister that we will do everything we can to bridge the deficit,” Prime Minister Modi said during the joint press briefing with his Bangladeshi counterpart Sheikh Hasina.
“Indian investments in Bangladesh will help. I will also try to make trade smoother and easier, including at the border. The agreement on standards and testing is a step in that direction,” he added.
Stating that power supply from India to Bangladesh will grow from 500 MW to 1100 MW within two years, Prime Minister Modi said both nations can do more together in the power sector.
“Power supply from India to Bangladesh will grow from 500 MW to 1100 MW within two years. The 1320 MW Rampal power project is making progress in accordance with your laws and regulation. We can do more together in power sector, here and in India,” he added.
The Prime Minister also lauded Bangladesh’s decision to allow transit of power equipment and food-grain to the northeast.
“Connectivity is the catalyst for deeper engagement. Bangladesh’s decision to allow transit of power equipment and food-grain to the Northeast echoes the strength of your human values and our shared economic opportunities,” he said.
Prime Minister Modi further stated that connectivity by road, rail, rivers, sea, transmission lines, petroleum pipelines and digital links will increase and added some of the pathways to this future have been unveiled today.