India, Bangladesh vow to work together in textile business.

DHAKA: The absence of minister of commerce Anand Sharma at the 'India Show' in Dhaka has not been a big dampener as the warmth of both Indian and Bangladeshi business communities marked the day celebrated in Bangladesh as the countdown to its independence when India had formally joined the freedom war on December 3, 1971.

Even as a majority of the local newspapers and FM channels hailed India's role in Bangladesh's independence, on Day One of the India Show, representatives from corporate India and the Bangladeshi business community evinced interest to work for a long-lasting friendship on the business front, beginning with the textile and garments sector.

The India Show is organized by leading industry body Ficci and the ministry of commerce under the umbrella of 'Maitree Bandhan' , an initiative of The Times of India and Prathom Alo, a leading newspaper in Bangladesh, to bring the two countries closer.

The Ficci national committee member on textiles, and managing director of TT Ltd, Sanjay K Jain, said, "We are strong in textile and fabrics and Bangladesh is strong in garments and gradually emerging as a major power in readymade garments (RMG).

We should work together to fight China." Incidentally, the garment exports from India now stand at around $13-14 billion per annum but Bangladesh has already crossed $20 billion in RMG. Textile is the single-largest export item from India to Bangladesh with a volume of $1,081 million in 2010-11 .

Abdul Matlub Ahmed, chairman of Nitol Niloy Group, and president India-Bangladesh Chamber of Commerce , said, "You have an advantage in textile, we have in garments. Then why shouldn't we work together? It is good that now Indian companies are showing interests about Bangladesh ," he added.


Source :  timesofindia.indiatimes.com