New delhi: India’s leading industry body, CII, has expressed its view that the new Government of Bangladesh’s ‘Bangladesh First’ strategy aligns well with India’s development experience, highlighting significant opportunities for enhanced economic collaboration.
According to Bangladesh Sangbad Sangstha, Indian industry veteran Pankaj Tandon mentioned during an interaction with a visiting Bangladesh media delegation at the Confederation of Indian Industry (CII) headquarters in New Delhi that the current phase of Bangladesh-India relations is crucial. This phase is pivotal not only for maintaining existing ties but also for fostering the next stage of economic partnership to aid Bangladesh’s long-term growth and competitiveness.
The media delegation is currently visiting India. Tandon emphasized that ‘Bangladesh First’ focuses on domestic capacity building, job creation, productivity enhancement, export diversification, digital transformation, and long-term resilience. He clarified that the strategy aims to strengthen national capabilities through well-designed partnerships rather than adopting an inward-looking approach.
Highlighting the economic ties between the nations, Tandon described Bangladesh as India’s largest trading partner in South Asia, with India being Bangladesh’s second-largest trading partner in Asia. The bilateral trade is valued at approximately US$13.5 billion for the 2024-25 fiscal year. He noted that economic cooperation is the backbone of bilateral relations and suggested that expanding market access, reducing non-tariff barriers, and improving border infrastructure could significantly boost trade.
Tandon further explained that Bangladesh’s industrial strength and India’s manufacturing and service sectors complement each other, creating opportunities for integrated regional value chains. He mentioned the proposed Comprehensive Economic Partnership Agreement (CEPA) as a significant step in enhancing trade and investment growth, which would encompass services, investment facilitation, technology cooperation, standards, and skills development.
Discussing sector-specific opportunities, he pointed out that textiles and apparel remain central to Bangladesh’s economy, even as it graduates from the least developed country status. Future competitiveness will depend increasingly on productivity, compliance standards, machinery, and design capabilities. He also identified areas such as medical tourism, food processing, agricultural value chains, digital economy, startups, energy cooperation, and MSME linkages as promising for expanded collaboration.
Tandon highlighted that Indian expertise in digital public infrastructure, fintech, renewable energy, manufacturing excellence, and sustainable development could support Bangladesh’s economic transformation. He reaffirmed CII’s commitment to working closely with partner organizations in Bangladesh to deepen business-to-business engagement and enhance economic cooperation between the two neighboring countries.
CII senior director Manish Mohan also addressed the gathering, contributing to the discussion on strengthening economic ties.