India and Germany on Wednesday signed a work plan for cooperation to strengthen quality infrastructure, reduce technical barriers to trade, enhance product safety and strengthen consumer protection.

 

The work plan 2022 was signed during the virtually held 8th annual meeting of the Indo-German Working Group on Quality Infrastructure, led by the Indian Ministry for Consumer Affairs, Food and Public Distribution, and the German Federal Ministry for Economic Affairs and Energy.

 

Consumer Affairs Secretary Rohit Kumar Singh and Deniela Bronstrup, Director General, Digital and Innovation Policy at the German Federal Ministry for Economic Affairs and Climate Action (BMWK) were present in the meeting.

 

'A Work Plan for the Year 2022 was agreed upon and signed by both sides…,' an official statement said.

 

The areas identified for collaboration include mobility, energy, circular economy, smart farming/ agriculture, medical devices, digitalisation (artificial intelligence, Industry 4.0 and other new technology areas), machinery safety, medical devices and equipment and market surveillance.

 

Speaking in the meeting, India’s consumer affairs secretary underscored the importance of a well-established and robust quality infrastructure which consists of standardisation, technical regulations and market surveillance for the success of the government’s initiative to transform India into a global manufacturing hub.

 

Stating that Germany is an important and trusted partner for India, the secretary expressed hope that the Work Plan 2022 signed virtually during the meeting would pave the way forward for collaboration towards well functioning and resilient systems of quality infrastructures.

 

He urged involvement of all the relevant stakeholders, such as different ministries, standardisation bodies and industry to learn from each other’s approaches on different aspects of quality infrastructure.

 

Germany’s Bronstrup said despite the challenging period, both sides continued cooperation under the framework of the Working Group.

 

'This is a great sign of strong relations between Germany and India and that both sides can draw benefits from exchange of information and expertise on issues of mutual interest to support bilateral trade,' he said.

 

The German side shared their initiatives at the International Telecommunication Union (ITU) and requested support for the German candidate for the position of Director Standards at ITU.

 

A publication — ‘United in Quality and Safety’ — was released providing information about the quality infrastructure in Germany and the European Union.

 

Outcome of the Global Quality Infrastructure Index (GQII) study conducted by the German side was also shared.

 

As per the GQII report, India is placed at seventh position on standardisation aspect, ninth for accreditation activities and 19th for metrology related activities.

 

India scored 95.6 out of 100 and is ranked at 10th place in the world for overall quality infrastructure environment in the country, the statement said.

 

This was followed by a panel discussion on ‘Digitalization and sustainability: key factors for an effective and modern Quality Infrastructure’ and a session on ‘Focus areas for cooperation within the Indo-German Working Group in 2022’.

 

The Working Group meets annually since 2013, and identifies areas of cooperation to support and strengthen quality infrastructure taking into account needs and requirements of relevant stakeholders from diverse technology areas so as to support bilateral trade.

The ‘Shashwat Bharat Krushi Rath’, a mobile knowledge centre, has been launched in Gwalior, Madhya Pradesh, to create awareness among farmers about globally-acclaimed sustainable, natural and chemical-free farming methods.

 

The mobile centre, inaugurated by Narendra Singh Tomar, Minister for Agriculture and Farmers Welfare, is a replica of the ‘Sustainable Farming and Rural Entrepreneurship Centre’ situated at The Eco Factory Foundation (TEFF), a Maharashtra-based non-profit organisation, near Pune.

 

A statement by TEFF said the centre will also provide information on appropriate market linkages, post-harvest technologies, government schemes. and policies related to agriculture and allied businesses/ start-ups.

 

The centre aims to strengthen farmers’ economy by imparting education on sustainable agriculture practices and to establish sustainable farms.

 

It will demonstrate the worth of sustainable farming from the grassroots level. It will touch on points such as the calendar of the plantation – what crops and when to grow them, how to grow their produce with the available natural resources in their farm, market linkages – how to add value to their business in an efficient way, how to sell their produce in the market, and other aspects.

 

The statement said the idea is to take the mobile centre across the country. ‘Shashwat Bharat Krushi Rath’ will travel across the villages of India in the coming months, it said.

 

Quoting Anand Chordia, founder of TEFF, it said: 'We are certain that this initiative will be a model project that will uplift the social and environmental morale and will bring economic viability to farmers. We wish to benefit the largest number of farmers with the takeaways of Sustainable Farming and Rural Entrepreneurship Centre.'

Jordan’s state grain buyer has issued an international tender to buy 120,000 tonnes of milling wheat sourced from optional origins, European traders said on Wednesday.

 

The deadline for submission of price offers is Feb. 23, with shipment sought in a series of possible combinations in 60,000 tonne consignments.

 

Possible shipment combinations are July 16-31, Aug. 1-15, Aug. 16-31 and Sept. 1-15.

 

The tender continues a period of active grain importing by Jordan.

 

The country has also issued a tender for 120,000 tonnes of animal feed barley, closing on Feb. 22.

 

In its last wheat tender on Feb. 1, Jordan’s state grains buyer purchased 60,000 tonnes after also seeking offers for 120,000 tonnes.

The Food Safety and Standards Authority of India (FSSAI) will soon come out with fresh regulations for two important everyday consumption items - bread and beer.

 

Beer brands will have to disclose the calorie count per bottle or can while bread makers will be allowed to label products as 'multigrain', 'whole wheat', and 'brown' bread only if the items have specified amount of multigrain or whole wheat in them, FSSAI CEO Arun Singhal said.

 

'With disclosure of calorie count on bottles, consumers can opt for lower calorie beer,' he told ET.

 

At present beer containers mention the alcoholic content by weight.

 

A bread can be labelled whole wheat if it contains at least 75% whole wheat, brown bread if it contains 50% whole wheat, multigrain if it has 20% multigrain, and garlic bread if it has at least 2% garlic in it, Singhal said.

 

Both regulations to be notified in the next two to three months.

 

Last year, the regulator came out with a directive that all liquor bottles will carry cautionary messages of 'Drinking is injurious to health' and 'Don't drink and drive' on their labels, similar to the one on tobacco or cigarette packets.

 

The food authority had in 2018 notified a separate regulation for alcoholic drinks called the Food Safety and Standards (Alcoholic Beverages Standards) Regulation, 2018 that applies on all distilled alcoholic beverages (brandy, country liquor, gin, rum, vodka and whisky, liqueur or alcoholic cordial), wines and beer.

 

FSSAI has signed memorandums of understandings (MoUs) with several states to strengthen the food safety and security systems.

The Indian economy is poised to grow at the quickest pace among the league of large nations on the back of various initiatives taken by the government in Budget 2022-23, said the Finance Ministry's Monthly Economic Review.

 

'The current year may as well end with an economic reset manifest of a post-COVID-19 world...Manufacturing and Construction will be the 'growth drivers', triggered by the PLI schemes and public capex in infrastructure,' the review report said.

 

Agriculture, which continues to see a constant increase in net sown area and crop diversification, will strengthen food buffers while benefiting farmers through generous volumes of procurement at remunerative minimum support prices and income transfers through PM KISAN scheme, it added.

 

Observing that the IMF in its January 2022 update has lowered its global growth estimate for 2022, it said India is yet the only large and major country listed by the IMF whose growth projection has been revised upwards in 2022-23.

 

'In a testimony to the resilience of its people and the farsightedness of its policymaking, the Indian economy that contracted by (-)6.6 per cent in 2020-21 is now projected in 2022-23 to grow the quickest among the league of large nations,' it said.

 

The report said the Budget 2022-23 has strengthened the direction set for India's economy by the previous year's budget.

 

The capex budget, higher by 35.4 per cent over current year's budget estimates and rising to 4.1 per cent of GDP after inclusion of grants-in-aid to states for capital works, will power the seven engines of Gatishakti to reduce the infrastructure gap and facilitate private investment in the country, it said.

 

On the impact of third wave of COVID-19, it said, overall economic activity remained resilient and this is reflected in robust performance of several high frequency indicators like power consumption, PMI manufacturing, exports and e-way bill generation.

 

'Once the uncertainty and anxiety caused by the Covid-19 virus recedes from people's minds, consumption will pick up and the demand revival will then facilitate the private sector stepping in with investments to augment production to meet the rising demand. Barring external shocks – geo-political and economic – this scenario should play out for the Indian economy in 2022-23,' it said.

 

The Budget has targeted a nominal GDP growth of 11.1 per cent in 2022-23 with a GDP deflator of 3.0-3.5 per cent. The implied real growth component of just about 8 per cent is close to the forecast in Economic Survey, 2021-22 as well as 7.8 per cent projected by the Monetary Policy Committee (MPC) of the RBI in its meeting of February 2022.

 

The unchanged repo and reverse repo rate along with the MPCs accommodative stance prioritise growth during these uncertain times and reinforce the investment orientation of the budget.

 

India Pulses and Grains Association (IPGA), the nodal body for India’s pulses trade and industry, successfully hosted virtual celebrations on the 4th World Pulses Day on behalf of India conveying a global message of ‘Go Green with Pulse Protein’.

 

The event brought together international audiences for a common goal of creating awareness of the benefits of pulses as well as drive the agenda of increase in consumption. The live event highlighted the role of pulses as the most sustainable crop in the world.

 

IPGA hosted a live webinar on Thursday, February 10, 2022 from 3pm IST onwards with eminent speakers like; Amitabh Kant, CEO, Niti Aayog as chief guest, Dr S K Malhotra - agriculture commissioner, Ministry of Agriculture and Farmers Welfare and Sunil Kumar Singh, additional managing director, NAFED as key note speakers.

 

Some of the other eminent speakers were Cindy Brown - president, GPC, Greg Cherewyk, president - Pulse Canada, Sachin Khurana, India representative, USA Dry Pea & Lentil Council, Robynne Anderson - president, Emerging Ag Inc., professor Rajiv K Varshney - research programme director, Accelerated Corp Movement, ICRISAT, Varun Deshpande - managing director, The Good Food Institute India, Vastal Lilani – president, Overseas Agro Traders Association Myanmar and Dr Roshani Sanghani - allopathic doctor hormone specialist- Aasaan Health Solution, Sunil Patwari - president, Singapore Pulses Federation and Yogesh Thorat, MD, Maha FPC. Akanksha Ghai (BVeg Foods), Tarak Badkas (Altein Ingredients), Chandni Jafri (Earth Craft Shop) Chirag Sabunani (Supplant Foods) are the panelists for discussion on Smart Protein: A new frontier in pulse innovation. Manisha Gupta, editor- Commodities and Currencies, CNBC 18 was the moderator at the event.

 

Speaking on the occasion, Kothari, said, 'I am convinced that it is time for India to focus on pulses and oilseeds as we did with cereals during Green Revolution. Pulses deserve the similar kind of policy, research and investment support. With the current govt attention, India’s production of pulses has reached a new high of 23-25 mn tons. Most of the dal mill units are too small and do not enjoy scale of economies. The govt. should consider instituting a ‘Dal Mill Modernisation Fund’. To modernise Dal mills. Despite being the world’s largest producer, our per capita availability is low even as per nutritional standards. Hence, it is important that we boost domestic consumption of pulses primarily to fight widespread malnutrition and under-nutrition.'

 

Kant said, 'Food production, food security and climate change are interlinked. Changing climate will continue putting pressure on agriculture ecosystem. Droughts, hurricanes and floods will continue to pose threat to agriculture and in turn food security. Future of food is certainly pulses and they can play a key role in addressing the problem of food security. Pulses are drought-resistant, are affordable sources of protein and also help keep soil healthy. Pulses moreover, have genetic diversity and this paves the way for development of more pulse varieties that are climate-change resilient. Pulses production has increased from 8.4mn tonne in 1961 to 25 million tonne in 2021. This indicates there is lot of untapped potential in pulses cultivation through technological breakthroughs.'

 

Dr Malhotra said, 'Multi-pronged strategy needs to be followed for agriculture production and development, particularly for pulses. In 2015-16, total production was 16.2 million tonne for pulses against a 25million tonne of requirement. Then a roadmap was made to achieve productivity-led growth. This could only be achieved by coming up with new varieties with high yielding in nature with special resilience towards drought and other climatic conditions. This was implemented under the National Food Security Mission Programme by following a cluster-approach as part of which, better quality of seeds were demonstrated and provided to farmers. Mission approach for promotion of pulses helped for large-scale adoption which resulted in high yield. With this programme, we have reduced import-dependence of pulses to an extent that we are now exporting pulses. We have reached to self sufficiency from pulses deficiency. The next year 2023 will be celebrated as International Year for Millets and pre preparations are on. We seek support from all stakeholders for success. My compliments to IPGA for good organization of the World Pulses Day 2022 event.'

 

Singh said, 'Government of India has been taking a slew of initiatives to boost pulse production. If the pulse production reaches 30 million MT, it would be a good way to provide pulses at an affordable price. This cannot be achieved through one part of the value chain alone and therefore, underlines the role from farm level to retail level so that this cheap source of protein is available to the poor to help reduce malnutrition. We at NAFED have been supported by Government of India through fund, policy and infrastructure support. Now, it is our responsibility on how we continue to support them. Lot of work needs to be done to enhance research to meet agriculture and climate challenges which are reducing production level or damaging produce.'

 

Research experts on the other hand, emphasised the potential of agriculture innovation and breakthroughs by coming up with a climate change-resilient variety of pulses. Elaborating on the research conducted on these lines, Varshney said, 'Genomics and breeding innovations are one of the most effective ways of coming up with high-yielding pulse crop varieties. India has come a long way however; improvement of crop is a must. Research should be focussed in the direction of improving qualities such as pest resistance, enhanced productivity, disease resistance, sustainability, environmental stress-resistant and greater nutritional value. It is important to put in research to enhance crop productivity to meet the pulse production targets by 2030.'

 

Thorat said, 'Sustaining production of pulses requires research into field crop varieties that can help climatic changes crop varieties remain resilient. Biofortification of pulses and increasing their productivity from a nutritional point of view is a key challenge. More research in addition to policy support from Government programmes is a must to achieve this. Yet another concern is making these pulse products reach the market. Partnership with farmers and farmer producer organisations and industrial players for primary and secondary processing. Schemes and programmes by incentivising private players will help undertake this.'

 

Deshpande said, 'Protein sourced from animals poses a great challenge from a sustainability standpoint, especially in the wake of climate change. We do need to think about where we’re getting our food, especially protein and diversify the protein supply going away from animals. We may need to produce 50-70% more meat by 2050 – which clearly suggests an increase in meat demand. Finding a smarter protein supply is absolutely important in such a time and in a bid to achieve this, we need to encourage people to consume pulses albeit, giving them a smarter protein solution than pushing for changing their dietary habits radically.'

 

Lilani said, "On this 4th World Pulses Day, we at OATA Myanmar send our best wishes to all in the pulse industry. We look forward to seeing a happy mix of import volumes and reasonable rates supported with stable and long-term trade policies through the course of this year which shall go a long way in the furtherance of plantings and trade between the two countries."

The Second Advance Estimates of production of major crops for the year 2021-22 have been released by the Ministry of Agriculture and Farmers Welfare. Record foodgrains production of 316.06 million tonnes is estimated. Union Minister for Agriculture and Farmers Welfare Shri Narender Singh Tomar said that the new record of foodgrains production in the country is the result of hardwork of farmers, efficient research of scientists and farmer friendly policies of the Government.

 

As per 2ndAdvance Estimates for 2021-22, total Foodgrains production in the country is estimated at record 316.06 million tonnes which is higher by 5.32 million tonnes than the production of foodgrain during 2020-21. Further, the production during 2021-22 is higher by 25.35 million tonnes than the previous five years’ (2016-17 to 2020-21) average production of foodgrains.

 

Total production of Rice during 2021-22is estimated at record 127.93 million tonnes. It is higher by 11.49 million tonnes than the last five years’ average production of 116.44 million tonnes.

 

Production of  Wheat during 2021-22is estimated at record 111.32 million tonnes. It is higher by 7.44 million tonnes than the average wheat production of 103.88 million tonnes.

 

Production of Nutri / Coarse Cereals estimated at 49.86 million tonnes, which is higher by 3.28 million tonnes than the average production.

 

Total Pulses production during 2021-22is estimated at 26.96 million tonnes which is higher by 3.14 million tonnes than the last five years’ average production of 23.82 million tonnes.

 

Total Oilseeds production in the country during 2021-22is estimated at record37.15 million tonnes which is higherby 1.20 million tonnes than the production of 35.95 million tonnes during 2020-21. Further, the production of oilseeds during 2021-22 is higher by 4.46 million tonnes than the average oilseeds production.                                         

 

Total production of Sugarcane in the country during 2021-22is estimated at 414.04 million tonnes which is higher by 40.59million tonnes than the average sugarcane production of 373.46 million tonnes.

 

Production of Cottonis estimated at 34.06 million bales (each of 170 kg) is higherby 1.12 million bales than the average cotton production of 32.95 million bales. Production of Jute & Mesta is estimated at 9.57 million bales (each of 180 kg). 

The apex food authority has issued a direction regarding the declaration of percentage contribution to Recommended Dietary Allowance (RDA) for different age groups on the label of the product.

 

It has clarified that in case of food for specific age group or physiological condition, respective RDAs may be considered for the purpose of labelling.

 

According to the FSSAI, 'It is clarified that in the case of foods which are targeted to a specific age group or physiological condition, respective RDAs may be considered for declaring per serve percentage (%) RDA based on the recommended dietary allowance specified by the Indian Council of Medical Research.'

 

FSSAI, in a statement, has pointed out that it had received representations from the stakeholders regarding declaration of percentage contribution to RDA in case of foods targeted to specific age groups.

 

It is pertinent to mention that the Labelling and Display Regulations 2020, stipulate labelling of nutritional information per 100g or 100ml or per single consumption pack of the product and per serve percentage contribution to RDA calculated on the basis of 2000kcal energy, 67g total fat, 22g saturated fat, 2g trans fat, 50 g added sugar and 2000mg of sodium (5g salt) for average adult per day, on the label.

Algeria’s state grains agency OAIC has issued an international tender to buy milling wheat to be sourced from optional origins, European traders said on Monday.

 

The tender sought a nominal 50,000 tonnes, but Algeria often buys considerably more in its tenders than the nominal volume sought.

 

The deadline for submission of price offers is Feb. 16, with offers having to remain valid until Feb. 17.

 

The wheat is sought for shipment in two periods from the main supply regions including Europe: April 1-15 and April 16-30.

 

If sourced from South America or Australia, shipment is one month earlier.

 

Algeria is a vital customer for wheat from the European Union, especially France, but it has been turning its back on French wheat recently as it seeks to diversify to other suppliers.

 

In its last wheat tender on Jan. 26, the OAIC made a relatively small purchase of 60,000 to 80,000 tonnes expected to be sourced from the Black Sea region after seeking shipment to two ports only.

Bangladesh is one of the  India’s largest trade partner in the region. Trade  Volume is increasing day by day. Even, the bilateral trade between the two countries grew at an unprecedented rate of 14 per cent during the COVID-19 pandemic. Media reports said that despite the COVID-19 pandemic, bilateral trade was at an unprecedented rate of 14 per cent from 9.46 billion US dollars in 2019 to 10.78 billion dollars in 2021.

 

Bangladesh mainly exports products including readymade garments, jute and jute-processed products, leather-processed products, plastic products, fish, soft drinks, copper and edible oil while goods including rice, raw cotton, onion, motor vehicles, boilers, machinery, milk, dairy products, electronic products and iron were imported from India. There is huge potential to increase the trade Volume between Bangladesh and Indian. There is a huge demand of Indian products in Bangladesh. On the other hand, the demand of Bangladeshi products is increasing day be day. Now Indian consumers want to consume Bangladeshi products. Border markets  are the best example to understand it. 

 

 According to media reports,  India exports to Bangladesh was US$7.91 Billion during 2020 (United Nations COMTRADE database on international trade). In the last one year, Bangladesh-India trade has increased by 94%. At the end of the current financial year, Bangladesh’s exports to India are expected to reach 2 billion for the first time. India is keen to take this trade relationship to a new height.

 

Bangladesh’s stable economic development is creating new opportunities for India’s northeastern states and work on a CEPA trade agreement is ongoing. The two countries are celebrating 50 years of India-Bangladesh friendship and India’s President Ram Nath Kovind completed a successful visit to Bangladesh last year.

 

2021 marks the golden jubilee of the liberation of Bangladesh and fifty years of India-Bangladesh diplomatic ties. India’s President Ram Nath Kovind is currently on a three-day state visit to Bangladesh from December 15 to 17, 2021; this is his first state visit since the outbreak of the COVID pandemic. 

 

Speaking on the state of bilateral ties in November, India’s Defense Minister Rajnath Singh affirmed that India Bangladesh relations are going through a golden phase. As Bangladesh attains 'developing nation' status (upgrading from 'less developed country' status), India has reiterated its commitment to deepen trade and economic ties with Bangladesh as partners rather than competitors. That Bangladesh is India’s biggest trade partner in South Asia, with a volume of over US$10 billion, is testimony to this commitment. In the same pursuit, both countries are working to finalize a Comprehensive Economic Partnership Agreement (CEPA).

 

Bangladesh’s holistic development is also viewed positively by New Delhi with new opportunities arising along India’s northeast region. Bangladesh and India share a 4096-kilometer-long (2545 miles) international border, the fifth-longest land border in the world, including 262 km (163 mi) in the state of Assam, 856 km (532 mi) in Tripura, 318 km (198 mi) in Mizoram, 443 km (275 mi) in Meghalaya, and 2217 km (1378 mi) in West Bengal.

 

Economic and commercial partnership between India and Bangladesh

According to various Indian and Bangladeshi media reports, Bangladesh may become India’s fourth largest export destination in FY22, jumping five places in two years. This comes as the economic boom of the eastern neighbour continues to fuel India’s exports growth.

 

Indian media outlet ‘Business Standard’ wrote last year that the first seven months of FY22, exports to Bangladesh grew 81 per cent over the same period in the preceding year to $7.7 billion. This makes it India’s fourth largest export market behind the US, UAE and China.

 

Bangladesh is India’s biggest trade partner in South Asia and India is the second biggest trade partner of Bangladesh. Bilateral trade between India and Bangladesh has grown steadily over the last decade and the exports of Bangladesh have tripled over the last decade to cross US$1 billion in 2018-19. In FY 2019-20, India’s exports to Bangladesh were US$8.2 billion and imports were US$1.26 billion.

 

 The two countries now should concentrate on people-to-people contact, trade, business and connectivity as the issues became increasingly important for the two sides. India could be a major supplier of yarn and cotton to the garment industry in the near future.

 

A deeper economic and trade engagement becomes all the more relevant, given the success of phenomenal and uninterrupted supply chains during the pandemic. An augmented connectivity infrastructure is imperative to actualize the bilateral trade and investment potential between the two countries. India’s Commerce and Industry Minister Piyush Goyal has recognized five focus areas to bolster bilateral economic ties – technology, connectivity, entrepreneurship, health, and tourism. Bangladesh is also important for aiding India’s connectivity in the Southeast Asian region through Chittagong and Mongla ports.

 

Indian and Bangladeshi companies signed agreements worth nearly $10 billion for Indian investment, mainly in the power and energy sectors, during a visit of Prime Minister Sheikh Hasina to India in April 2017.

 

And with Indian economic zones coming up at Mongla and Mirsarai, the amount of FDIs from the neighbouring nation is bound to increase manifold.

 

Both India and Bangladesh are also working towards holding the first meeting of the India Bangladesh CEOs Forum to provide policy level inputs in various areas of trade and investment and also to facilitate exchanges among the business communities of both the countries. Additionally, a bilateral textile industry forum has also been constituted to facilitate cooperation in the textile sector.

 

According to the data of media outlets, With Bangladesh being the central pillar of India’s Neighbourhood First policy, Dhaka is New Delhi’s largest trade partner in South Asia and bilateral trade between the two countries grew at an unprecedented rate of 14 per cent during the COVID-19 pandemic. the COVID-19 pandemic, bilateral trade was at an unprecedented rate of 14 per cent from 9.46 billion US dollars in 2019 to 10.78 billion dollars in 2021. Joint energy space is steadily emerging, India and Bangladesh’s electricity grids are interconnected from east and west with more than 1160 megawatts of powers way across from India and Bangladesh.The ?346 crore Pipeline Project, signed in 2018, will connect Siliguri in West Bengal in India and Parbatipur in Dinajpur district of Bangladesh. The work on the India-Bangladesh Friendship Pipeline, a project that will enable the two countries to integrate their energy needs, is progressing well and could be inaugurated next year. ( The NDTV, the Hindu, Foreign Secretary Harsh Vardhan Shringla )

 

Despite COVID-19 restrictions, the trade between India and Bangladesh crossed $10 billion. . India had sent over one crore COVID-19 vaccines to the country and has extended concessional credit lines of about $8 billion, the highest for any single country. India is also developing two Indian economic zones at Mirsarai and Mongla. Prime Minister Narendra Modi’s invitation to 50 young entrepreneurs from Bangladesh will further augment our ties. Over 350 Indian companies are now registered in Bangladesh. The India-Bangladesh CEO Forum will meet soon for the first time, even as the two countries work towards finalising a Comprehensive Economic Partnership Agreement (CEPA) to deepen trade and economic ties as partners rather than competitors.

 

India stands 'shoulder to shoulder' with the country’s leadership and people in their development journey.

 

Noting that India-Bangladesh supply chains worked uninterrupted through the pandemic, Improving connectivity is 'imperative' for expanding and realising the potential for bilateral trade and investments. The two countries’ leaders have brought Delhi and Dhaka closer and can together bring economic prosperity to South Asia. ( The Hindu, Commerce and Industry Minister Piyush Goyal)

 

India and Bangladesh have signed a Memorandum of Understanding (MoU) for the construction of a high-speed diesel pipeline from Nonmilitary in Assam to Parbatipur in Bangladesh, a joint venture between Numaligarh Refinery Limited and Bangladesh Petroleum Corporation. As an indication of goodwill, an initial consignment of 2200 ton of diesel has already been transported from Siliguri in West Bengal to Parbatipur in 50 wagons by the Indian Railways

 

Furthermore, India-Bangladesh cooperation in the power sector too has become an important aspect in this bilateral relationship. Bangladesh is currently importing 1160 MW of power from India. The Joint Working Group (JWG)/Joint Steering Committee (JSC) on power provides an institutional framework to promote bilateral cooperation in cross border trade of electricity.

 

How is India aiding Bangladesh as a development partner?

 

Presently, Bangladesh remains India’s biggest development partner. Over the past eight years, India has extended three Lines of Credits (LOC) to Bangladesh, amounting to US$8 billion for development of infrastructure in various sectors, including roads, railways, shipping, and ports. Additionally, India has also been providing grant assistance to Bangladesh for various infrastructure projects, including construction of Akhaura-Agartala rail link, dredging of inland waterways in Bangladesh, and construction of India-Bangladesh Friendship Pipeline.

 

Further, High Impact Community Development Projects (HICDPs) also form an important part of India’s developmental assistance to Bangladesh, with India having funded 68 HICDPs, including construction of, academic buildings, cultural centers, skill development and training institutes, student hostels, and orphanages etc. in Bangladesh. 16 additional HICDPs are being implemented.

 

Although there is a huge trade deficit between Bangladesh and India. As a big partner, India has been enjoying the major trade volume but India should consider this with its highest sincere consideration. Bangladesh is a well trusted ally of India. India should give more duty free access of Bangladeshi products.

 

This growing trade and economic ties are very important for the two fraternal ties. India and Bangladesh are really eternal friends. Their bondage is based on strong neighbourly spirit. However, this growing trade and economic ties will definitely benefit the people of the two countries. India and Bangladesh can benefit from growing trade and economic ties. We hope that thus bilateral growing trade and economic ties reflects better bilateral understanding.