The proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India could help expand bilateral trade and investment between the two countries, particularly in services, technology and skills development.
Pankaj Tandon, a member of the South Asian Committee of the Confederation of Indian Industry (CII), made the remarks while addressing a meeting with a visiting Bangladesh media delegation at its headquarters in New Delhi on Monday.
He noted that the current phase in Bangladesh-India relations is crucial not only for sustaining existing ties but also for shaping the next stage of economic partnership to support Bangladesh's long-term growth and competitiveness.
"We see strong alignment between the new government of Bangladesh's 'Bangladesh First' approach and India's own development experience," he said.
He explained that the "Bangladesh First" approach emphasises domestic capacity building, job creation, productivity enhancement, export diversification, digital transformation and long-term resilience.
"Importantly, this is not an inward-looking strategy. It is about strengthening national capabilities through well-designed partnerships," Mr Tandon added.
Describing Bangladesh as India's largest trading partner in South Asia, he said India remains Bangladesh's second-largest trading partner in Asia, with bilateral trade standing at around $13.5 billion in the 2024-25 fiscal year. Economic cooperation remains the backbone of bilateral relations, he said, adding that expanding market access, reducing non-tariff barriers and improving border infrastructure could significantly boost trade.
Bangladesh's industrial strengths and India's manufacturing and services sectors complement each other, creating opportunities for integrated regional value chains, he added.
Textiles and apparel will continue to play a central role in Bangladesh's economy even after its graduation from least developed country status, he said, noting that future competitiveness will increasingly depend on productivity, compliance standards, machinery and design capabilities.
He identified medical tourism, food processing, agricultural value chains, the digital economy, start-ups, energy cooperation and MSME linkages as promising areas for expanded collaboration.
Mr Tandon also said Indian expertise in digital public infrastructure, fintech, renewable energy, manufacturing excellence and sustainable development could support Bangladesh's economic transformation.
Responding to a Financial Express query on Bangladesh's ready-made garment exports through land ports, which are currently restricted by India, he said the CII could work jointly on the issue once Bangladeshi chambers formally raise it.
He reaffirmed CII's commitment to working closely with Bangladeshi organisations to deepen bilateral business-to-business engagement and strengthen economic cooperation.
Geetanjali Nataraj from CII made a presentation, while her colleague Manish Mohan also spoke at the event.
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