Economic Reporter :
Indian companies have begun showcasing their manufacturing capabilities with their Bangladesh partners in Dhaka in a first-ever ‘Indo-Bangla automotive’ show that began on Thursday.
Minister for Road Transport & Bridges Obaidul Quader inaugurated the three-day fair at International Convention City Bashundhara.
Indian High Commissioner Harsh Vardhan Shringla and Senior Secretary for Industries Md. Mosharraf Hossain Bhuiyan were also present.
Leading Indian manufacturers like Ashok Leyland, Bajaj Auto, Eicher Trucks and Buses, Hero MotoCorp, Honda Motorcycles, Mahindra & Mahindra, Maruti-Suzuki, Piaggio, Renault, Runner Automobiles, SML Isuzu, Tata Motors, TVS Motors, Yamaha and their Bangladeshi partners like ACI Motors, Bangladesh Honda, Ifad Autos, Karnaphuli, Niloy Motors, Nitol Motors, Rancon Motors, Rangs Motors, Runner Motors, TVS Auto Bangladesh and Uttara Motors are taking part in the show.
The High Commissioner said that given its “capacity, competence and geographical proximity to Bangladesh, Indian automotive industry is in an ideal position to meet this demand”.
India is the sixth largest producer of automobiles in the world with an average annual production of 24 million vehicles. Bangladesh is India’s fifth largest automotive market.
With economic growth of over 7 percent, greater disposable incomes, and improving road infrastructure, the demand for automobiles in Bangladesh has increased.
Automotive sector accounted for 7.1 percent of India’s GDP in 2015-16. India is also exporting more than 3.5 million vehicles annually, and Indian companies are increasingly gaining acceptance on a global scale.
The High Commissioner said India automotive companies can also “explore the possibility of working together with the business community and the government of Bangladesh to promote manufacturing in Bangladesh by setting up joint ventures here”.
Already, a number of Indian companies have set up operations in Bangladesh.
Tata Motors’ joint venture with the Nitol-Niloy Group has an assembly plant in Jessore; Hero MotoCorp is setting up a two-wheeler plant in Jessore; Ashok Leyland and Ifad Auto are also inaugurating their assembly plant on Thursday at Dhamrai.
Indian investments, including those in the automotive sector, registered with the Bangladesh Investment Development Authority are worth than $3 billion, the High Commissioner said.
“Rapid economic growth, growing trade and commercial ties, and economic integration between India and Bangladesh have created the right conditions for sectors such as automobiles in the two countries to come together to jointly explore new opportunities,” he said.
Indian companies have begun showcasing their manufacturing capabilities with their Bangladesh partners in Dhaka in a first-ever ‘Indo-Bangla automotive’ show that began on Thursday.
Minister for Road Transport & Bridges Obaidul Quader inaugurated the three-day fair at International Convention City Bashundhara.
Indian High Commissioner Harsh Vardhan Shringla and Senior Secretary for Industries Md. Mosharraf Hossain Bhuiyan were also present.
Leading Indian manufacturers like Ashok Leyland, Bajaj Auto, Eicher Trucks and Buses, Hero MotoCorp, Honda Motorcycles, Mahindra & Mahindra, Maruti-Suzuki, Piaggio, Renault, Runner Automobiles, SML Isuzu, Tata Motors, TVS Motors, Yamaha and their Bangladeshi partners like ACI Motors, Bangladesh Honda, Ifad Autos, Karnaphuli, Niloy Motors, Nitol Motors, Rancon Motors, Rangs Motors, Runner Motors, TVS Auto Bangladesh and Uttara Motors are taking part in the show.
The High Commissioner said that given its “capacity, competence and geographical proximity to Bangladesh, Indian automotive industry is in an ideal position to meet this demand”.
India is the sixth largest producer of automobiles in the world with an average annual production of 24 million vehicles. Bangladesh is India’s fifth largest automotive market.
With economic growth of over 7 percent, greater disposable incomes, and improving road infrastructure, the demand for automobiles in Bangladesh has increased.
Automotive sector accounted for 7.1 percent of India’s GDP in 2015-16. India is also exporting more than 3.5 million vehicles annually, and Indian companies are increasingly gaining acceptance on a global scale.
The High Commissioner said India automotive companies can also “explore the possibility of working together with the business community and the government of Bangladesh to promote manufacturing in Bangladesh by setting up joint ventures here”.
Already, a number of Indian companies have set up operations in Bangladesh.
Tata Motors’ joint venture with the Nitol-Niloy Group has an assembly plant in Jessore; Hero MotoCorp is setting up a two-wheeler plant in Jessore; Ashok Leyland and Ifad Auto are also inaugurating their assembly plant on Thursday at Dhamrai.
Indian investments, including those in the automotive sector, registered with the Bangladesh Investment Development Authority are worth than $3 billion, the High Commissioner said.
“Rapid economic growth, growing trade and commercial ties, and economic integration between India and Bangladesh have created the right conditions for sectors such as automobiles in the two countries to come together to jointly explore new opportunities,” he said.
