Relocate to Bangladesh, IBCCI urges Indian industries

Abdul Matlub Ahmed, president of the India-Bangladesh Chamber of Commerce and Industry, speaks at a press conference, organised in connection with the upcoming Indo-Bangla Trade Fair-2011 at Sonargaon Hotel in Dhaka yesterday. Indrajit Lahiri, secretary general of IBCCI, and Kazi Wahidul Alam, chief coordinator for the fair, were also present. Photo: Triune

India-Bangladesh chamber of commerce and industry (IBCCI) yesterday urged the Indian entrepreneurs to shift their production base to Bangladesh to use its duty and quota free market facilities.
“Indian industrialists can enhance their global competitiveness by transferring production bases to Bangladesh as it has duty and quota free market access in the major global markets as a least developed country,” said Abdul Matlub Ahmad, president of IBCCI.
The Indian entrepreneurs should consider Bangladesh as a production hub as it will ensure competitive price of their products, he added.
Indrajit Lahiri, secretary general of IBCCI, said: “Indian investors can gain the competitive edge by shifting their production base here as it will help them enjoy the low cost advantage.”
Ahmad, who is also the chairman of Nitol-Niloy Group, said, “The good news is that some Indian companies have already started relocating to Bangladesh. For example, Arvind Ltd and SRA group of India has already signed deals to start operation.”
He was speaking at a press conference on Indo-Bangla Trade Fair 2011 at Sonargaon Hotel in Dhaka yesterday.
IBCCI will organise a trade show styled “The second Indo-Bangla Trade Fair 2011”, with support from the Indian High Commission in Dhaka.
The joint trade show will start on Thursday at Sonargaon Hotel in Dhaka and end on Saturday with special focus on trade and investment between the two countries.
More than 40 leading Indian and Bangladeshi companies such as Tata Motors, Asian Paints, Arvind Ltd, Marico, Otobi, Bashundhara Group, BSRM Steels and Energypac will display their products in the fair.
Dilip Barua, minister for industries, is expected to inaugurate the three-day fair at the opening ceremony. Mashiur Rahman , advisor to the prime minister, will be present as the chief guest, while S Hiato, minister for industries, Mizoram Government of India, Rajeev Singh, director general of Indian chamber of commerce, and Rajeet Mitter, Indian High commissioner in Bangladesh, will be present as special guests.
A seminar on “Strengthening Indo-Bangladesh Business Ties: North-East India Perspective” will also be held on the sideline of the fair.
A delegation of 25 members of Confederation of Indian Industry will take part in the fair to explore the business opportunities in Bangladesh.
The fair will remain open for the visitors from 10am to 8pm with an entry fee of Tk 20.