New delhi: India’s leading industry body, the Confederation of Indian Industry (CII), has underscored the potential of the proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India to substantially elevate bilateral trade and investment. The agreement aims to transcend mere trade in goods, encompassing services, investment facilitation, technology collaboration, and skills development.
According to United News of Bangladesh, there is a notable synergy between Bangladesh’s ‘Bangladesh First’ strategy and India’s development pursuits, highlighting significant prospects for deeper economic collaboration. During an interaction with a Bangladesh media delegation at CII’s headquarters in New Delhi, CII’s Senior Vice President (Int’l Business), Pankaj Tandon, emphasized the pivotal phase in Bangladesh-India relations. This phase is deemed crucial for not only maintaining existing ties but also for crafting the future landscape of economic partnership to bolster Bangladesh’s long-term growth and competitiveness.
Tandon elaborated that the ‘Bangladesh First’ approach, at its essence, focuses on domestic capacity building, job creation, productivity enhancement, export diversification, digital transformation, and long-term resilience. He clarified that this strategy is not inward-looking but is about fortifying national capabilities through strategically crafted partnerships.
Describing Bangladesh as India’s largest trading partner in South Asia, Tandon highlighted that India is Bangladesh’s second-largest trading partner in Asia, with bilateral trade reaching approximately US$13.5 billion in the 2024-25 fiscal year. He pointed out that economic cooperation forms the foundation of bilateral relations, suggesting that expanding market access, reducing non-tariff barriers, and enhancing border infrastructure could significantly propel trade.
Tandon also noted the complementary nature of Bangladesh’s industrial strength and India’s manufacturing and services sectors, which could pave the way for integrated regional value chains. He identified sector-specific opportunities in textiles and apparel, medical tourism, food processing, agricultural value chains, the digital economy, startups, energy cooperation, and MSME linkages as promising avenues for expanded collaboration.
Additionally, he indicated that Indian expertise in digital public infrastructure, fintech, renewable energy, manufacturing excellence, and sustainable development could aid in Bangladesh’s economic transformation. Tandon reaffirmed CII’s dedication to collaborating closely with partner organizations in Bangladesh to enhance business-to-business engagement and strengthen economic cooperation between the two neighboring nations.
Other notable speakers at the event included CII senior director Manish Mohan, President of Diplomatic Correspondents Association, Bangladesh (DCAB) AKM Moinuddin, and former DCAB president and the Daily Sun Editor Rezaul Karim Lotus.