Two-day India Expo ends today

A two-day Indian trade fair kicked off in Dhaka yesterday to showcase footwear products and accessories, as Indian shoemakers count Bangladesh as a potential market.

Ninety-six delegates from 53 Indian companies are taking part in the show organised by the Federation of Indian Export Organisations (FIEO) at Sonargaon Hotel.

The Bangladesh corridor for Indian products plays a significant part in bilateral cooperation, Mashiur Rahman, economic affairs adviser to the prime minister, said while opening the show. The corridor was opened in 1947. After remaining closed for a year in 1971, the passage was reopened in 1972, Rahman said. “To many, the corridor seems something new, but it's not.”

A large trade bloc like Bangladesh, Bhutan, India and Nepal can work well even if a free trade agreement does not work, he said.

Countries always benefit from a large trade bloc, thanks to a higher number of customers and goods, according to Rahman.

The fair indicates how business has been increasing between the two countries, said Abdul Matlub Ahmad, president of the Federation of Bangladesh Chambers of Commerce and Industry.

Indian companies are keen to invest in Bangladesh as the latter enjoys duty-free benefits for all but 25 alcoholic and drug items, Ahmad said.

“The Indian entrepreneurs can invest here in different sectors which have higher value addition.” He urged the Indian investors to set up 64 shoe factories in 64 districts.

The duty benefits Bangladesh enjoys in 40 countries are encouraging India's small and medium enterprises to invest here, said Ramesh Kumar Agarwal, vice president and chairman for the eastern region of FIEO.

He said many Indian entrepreneurs have already showed their interest to invest in plastic-shoe and water purifying sectors.