Use duty-free access of local products to Indian market: Saran

Indian High Commissioner in Dhaka has urged businessmen to make “full use” of the duty-free access of Bangladeshi products to the Indian market. India had announced duty-free access to all Bangladeshi products except 25 in 2011. Since then, Bangladesh’s exports to India peaked at $563 million in the last fiscal. But the envoy, Pankaj Saran,  Monday said “there seems to be drop in the current fiscal”. There will be teething troubles of entry but all of us know of the success stories that are already emerging,” he said. He was addressing the quarterly luncheon meeting of one of the oldest chamber Metropolitan Chamber of Commerce and Industry (MCCI) at its office in Dhaka. The envoy said there were many other factors like institutional framework, trade agreement, dispute settlement, ease of travel and information that influence trade. He sought MCCI leaders support to increase bilateral trade and investment, and said “you are an influential and essential voice in policy-making. Above all, you are critical stakeholders in Bangladesh’s economic success”, according to a news agency.