“India Inc is investing an estimated $11 billion in various ventures in Bangladesh,” Indian High Commissioner Harsh Vardhan Shringla said.
Prominent among these companies are Reliance Industries, the Tata Group, Ashok Leyland, Hero MotoCorp, Airtel, Marico, Godrej, VIP Industries, Ceat Tyres, Ambattur Clothing, Sahara, L&T and the Adani Group.
India having already invested 3.0 billion dollars in many projects and considering the infusion of another 11 billion dollars, a top diplomat said.
The High Commissioner met various high officials and dignitaries of India and discussed India-Bangladesh issues.
He said that a large number of important projects are being implemented jointly in Bangladesh or being executed under India’s Line of Credit funding.
“With the completion of these ongoing and proposed projects, the current India-Bangladesh annual trade volume of $6.5 billion would increase significantly,” Harsh said.
To boost trade and economy, India has already built two Integrated Check Posts (ICPs) on the India-Bangladesh borders at Agartala and Petrapole (in West Bengal), he added.
The envoy said that India-Bangladesh relations have improved extensively in the last five years and are much better than in the last 30 years.
He said that after increasing bus services between the cities of Bangladesh and India, two new rail links — Agartala (India)-Akhaura (Bangladesh) and Kolkata (India)-Khulna (Bangladesh) — are being developed.
The High Commissioner said that India has liberalised its visa procedures to a large extent and the Dhaka mission is issuing, on an average, 3,500 tourist visas per day, according to a news agency report.