'Make in India' vision linked with neighbours

India wants to strengthen its partnership with Bangladesh to develop both economies, as it believes that its growth and prosperity are interlinked with its neighbours, particularity in South Asia, Indian High Commissioner in Dhaka Pankaj Saran said yesterday.

India wants to march ahead and develop synergies, integration, and inter-connectivity, so that the vision for prosperity can be realised together, said Saran.

He spoke at a programme organised by the High Commission of India, along with India-Bangladesh Chamber of Commerce and Industry, at Indira Gandhi Cultural Centre in Dhaka to mark the launch of the 'Make in India' campaign by Prime Minister Narendra Modi in New Delhi yesterday.

Participants saw the live telecast of the launch of the programme, where Modi unveiled his ambitious plan to turn India into a global manufacturing hub.

“What we have heard was a call for transformation of the manufacturing sector in India, which is also part of the vision of the Indian government that the prosperity of India and South Asia are commonly linked,” Saran said.

India is ready to develop, progress, and walk in a new direction, on a new path, Saran said.

“At the same time, India is convinced that it can do so only in cooperation with its neighbours, particularly with a county like Bangladesh, which is a growing economy in the South Asian subcontinent.”

He urged Bangladesh to produce power in India. The Bangladesh government has already identified and expressed interest in prospective hydro power stations in the North Eastern states of India, he said.

“We have been discussing the issue of producing power in India with Bangladesh's power ministry and they have deep interest.”

India allows 100 percent foreign direct investment in the power sector, he said.

He urged the different ministries to start talks on business that will bring a positive impact in the lives of people.

India is one of the biggest destinations for Pran, said Ahsan Khan Chowdhury, deputy managing director of Pran Group, a leading food processor.

The company has invested in India to tap its food and plastic markets.

“We all want to be a bigger corporate. If we want to be a bigger corporate in India, we first have to do more business with India.”

“I think the condition of doing business with India is to start operating in India; make for India and make in India. I think it will be good services to their consumers and jobs will be created in India,” Chowdhury said.

“We are very competitive in India. I think foreign investors can enjoy a lot of potential and facilities offered by the country and we are focusing on diversifying our products there.”

The Indian prime minister highlighted 'trust', which is important not only in government but also in the private sector, said Abdul Matlub Ahmad, chairman of Nitol-Niloy Group, a distributor of Tata Motors, India's biggest automaker.

“The most important thing required by businesses to flourish is trust. If there is a gap, then the government can intervene, but we must start with trust. We want to trust all our countrymen,” Modi said in New Delhi.

Modi wants more investment in the manufacturing sector, which is wonderful news for Bangladesh and India, said Ahmad referring to the Indian prime minister's new definition of foreign direct investment (FDI).

Modi said: “People are talking about FDI but I see things differently. FDI is also a responsibility of the people of India. My definition of FDI for the people of India is First Develop India.”

“We need to move our government to allow us to invest in India and we should tie up with Indian companies, where we can have larger and bigger investment,” Ahmad said.