Indian industrialists seek to tap into B\\\'desh manufacturing sector: Amu

FE Report | Published: January 30, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Industries minister Amir Hossain Amu Wednesday said major Indian industrialists are interested to invest in the manufacturing sector of Bangladesh to bolster business relations between the two countries.
"Major Indian industrialists want to invest in Bangladesh specially in various import substitute small and medium sectors like spare parts, accessories and in heavy industries like tyres under joint or public private partnership," said the minister.
He made it clear that the Indian intention to invest in this country is not to serve their interests only, also in accordance with the priority set by Bangladesh. There is no concrete proposal right now as India is close to holding its national election after which it can decide on various issues, the minister added.
Mr Amu was briefing journalists after a courtesy meeting with the Indian high commissioner Pankaj Saran at his ministry in the city.
The minister said there was no discussion on any specific issue with the Indian envoy as it was a primary meeting after his taking over the office and they will later work out on this issue.
Mr Amu said Indian entrepreneurs are ready to invest in any sector decision on which will be taken after bilateral talks.
The minister said discussions were held on various barriers in exporting Bnagladeshi products to India, removal of barriers in bilateral trade, cooperation in ICT sector and strengthening of Bangladesh Standards and Testing Institution (BSTI).
The industries minister said Indian High Commissioner (HC) praised the floruishing of pharmaceuticals and the SMEs of Bangladesh. The envoy suggested developing a strong ICT sector in Bangladesh using the creativity of the young generation. The Indian envoy assured of continued support in the development process of any industrial sector including ICT.
Mr Amu told the reporters, the Indian HC emphasised on development of Bangladesh's manufacturing sector by reducing import dependability. Prominent Indian entrepreneurs want to invest in a modern industrial sector of Bangladesh for which different chambers and trade bodies can take initiative to hold effective dialogues.
When asked his comment on enhancing the performance of the sugar mills, the minister said there is capacity constarint in sugarcane production in the country. There is a demand for more than 1.4 million metric ton sugar annually while the country can produce only on an average 0.1 million metric ton. This creates scope for the private sector importers supply sugar by importing or refining sugar even at lower price than the state-owned mills.
"This has created the scope for the private scetor traders to control the sugar market. Now we are working on it," said the minister, adding: he is working to identify the bottlenecks of his ministry on which he will act soon by preparing a concrete proposal and submit to the prime minister.