Railway connectivity between India and Bangladesh would enhance cross-border trade and strengthen the bilateral relations between the two nations, industrialist Anand Mittal has said.
Mittal, the Director of the PCM Group, said to and fro movement of the people would provide an impetus to business relations.
“In order to improve relations between India and Bangladesh, business team from Bangladesh should visit India and a team from India should also go there once a year. If there is an understanding of culture between the two countries then it will provide an impetus to business. The relations will also improve if there will be to and fro movement of people and goods,” said Mittal.
Recently, there was significant improvement in the trade relations between the two countries.
In 2010-11, two-way trade crossed the USD five billion mark as a result of a significant increase in Bangladesh’s exports to India (68 percent over the previous year) and India’s exports to Bangladesh (43 percent over the previous year).
Currently, Bangladesh imports over four billion dollars worth of products from India, while India import less than one billion dollars worth of products annually.
Furthermore, traditional economic and cultural links between India and Bangladesh have been greatly enhanced with Prime Minister of Bangladesh, Sheikh Hasina visiting India in January, 2010 followed by a return visit by Prime Minister Manmohan Singh in September 2011.
Mittal also said that a high-speed train would be set up if Bangladesh ties up with India.
“If they (Bangladesh) tie up with India then they will get a high speed train and it will run smoothly,” he added.
Taking into account the trade imbalance between the two countries in favour of India, Singh during his visit to Bangladesh announced the removal of all 46-textile items from the sensitive list and zero duty access in all these 46 items for Bangladesh exports to India.