As Bangladesh's export to India remains below the expectation despite having duty-free access, business leaders and economists said Bangladesh needs to look for alternative ways for closing the trade gap with its important neighbour, reports UNB.
Proper market analysis, producing products by analysing India's demand at competitive prices, removal of non-tariff barriers, and encouraging joint ventures and the idea of re-export can help boost Bangladesh's export to India, said industrialists.
"We'll encourage big Indian companies to have partners in Bangladesh," special adviser to India Bangladesh Chamber of Commerce and Industry (IBCCI) Abdul Matlub Ahmed said.
He said the big Indian companies can produce products here through joint ventures, and the products can be exported to India and elsewhere in the world availing of duty-free advantage apart from addressing Bangladesh's domestic demand.
Director General of Bangladesh Institute of Development Studies (BIDS) Dr Mustafa K Mujeri said Bangladesh needs to improve investment climate to allure Indian companies. "Or else, the Indian companies won't feel encouraged to come here."
Asked how Bangladesh's export to India can be increased, the economist said there are some non-tariff barriers that need to be removed.
Besides, Bangladesh needs to concentrate on the prospective products that have adequate demand in the Indian market, he added.
Matlub Ahmed, however, said having some non-tariff barriers to a big country like India are usual, and India assured them of removing the barriers once Bangladesh specifically mentions those.
BD can close trade gap with India \\\'thru\\\' alternative ways\\\'
FE Team | Published: July 05, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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