Bangladeshi investors will soon be able to pump money into India, with New Delhi likely to remove a blanket ban soon and allow Bangla FDI on merit.
?We have been reviewing these restrictions with a view to enabling FDI from Bangladesh into India on a case-to-case basis, subject to security clearance. I am hopeful that Bangladesh businessmen will receive some good news in this regard soon?, minister of state for commerce Jairam Ramesh said on Sunday.
Ramesh was speaking at the launch of the India-Bangladesh Chamber of Commerce & Industry by Iajuddin Ahmed, President of Bangladesh, in Dhaka.
Jairam also reiterated India?s request for allowing transit routes to the north-east region. He said apart from helping India, such routes would also provide Bangladesh with enormous trading opportunities with India?s N-E region and thus help Bangladesh to reduce its trade deficit with India.
The minister highlighted India?s intention to undertake joint projects with Bangladesh and also suggested a possible bilateral agreement on multi-modal transportation systems, including on container traffic, to facilitate joint projects. He requested Bangladesh to consider opening additional land customs stations to enable greater two-way trade. On the perception in Bangladesh that when India?s imports themselves are growing significantly, Bangladesh?s exports to India are hampered by a large number of non-tariff barriers, he said, ?We complain that Dhaka also has a number of non-tariff barriers, which it is unwilling to improve the connectivity and that many of our proposals to deepen commercial ties are pending with you for a long time.? ?Together we must resolve to the issues and put our economic relationship on fast trak to make up for lost time and missed opportunities?, he said. He further said, ?India is setting up testing facilities for hilsa fish at Petrapole since Bangladesh businessmen had told him during his last visit that the lack of such facilities at Petrapole constituted a non-tariff barrier.?