Search Result for : India Bangladesh Trade

The Dollar Business Bureau The Petrapole-Benapole Integrated Check Post (PBICP) is a major route for India-Bangladesh bilateral trade. India and Bangladesh have agreed to operate the PBICP  24x7, with effect from 01st August 2017 in order to ensure easy movement of cargo across the border. Land Ports Authority of India (LPAI) and Central Board of Excise and Customs (CBEC), the implementing agencies on the Indian side, have issued necessary instructions in this regard.  The 24x7 operationalization of Petrapole-Benapole ICP is expected to be a significant milestone towards expeditious clearance of cargo and, hence boost the bilateral trade between the two countries. 

The Dollar Business Bureau RITES Ltd, a Public Sector Unit under Indian Railway Ministry, traded over 60 advanced passenger coaches with Bangladesh Railways. The Ministry of Railways, in a release, stated that the RITES delivered 60 Broad Gauge coaches (LHB category) to Bangladesh as a part of the agreement inked for 120 coaches. Bangladesh Prime Minister Sheikh Hasina, along with Harsh Vardhan Shringla, High Commissioner of India and Bangladesh’s Railway Minister Mazbul Haque, flagged off an intercity train comprising the LHB coaches at Dhaka. Two trains, encompassing 12 coaches each, will be employed to operate between Dhaka and Rajshahi. The 12 coaches are inclusive of 2 power cars, 2 AC chair cars, 2 first AC sleeper cars and 6 non-AC chair cars. These modern stainless ...

The Dollar Business Bureau The government is planning to establish three multi-modal waterport hubs to accelerate shipment of goods within India as well as facilitate trade flows with neighbouring countries. The three waterports will be developed in Sahibganj in Jharkhand, Haldia in West Bengal and Varanasi in Uttar Pradesh, Union Minister of Road Transport and Highways Nitin Gadkari said. “The ministry is working towards establishing a ‘waterport’ – a waterways port – in Sahibganj in the state of Jharkhand that will accelerate import and export of goods between India and Bangladesh,” Gadkari said. Inland waterways make a paltry 3% of the entire transportation in India. China carries 47% of its total transportation through Inland waterways, while the European Union conducts 44% ...

The Dollar Business Bureau Nirmala Sitharaman, Minister of Commerce, Government of India, will inaugurate the third border “haat” (local market) between India and Bangladesh in Tripura today, a move which aims to improve local trade and people contact between the two countries. However, in the long term, such haats could help boost Bangladesh’s exports to India and bridge the huge trade deficit it has with India. According to the Ministry of Commerce, India’s imports from Bangladesh stands at around $484 million compared to exports of around $6.1 billion, and the trade deficit in favour of India has almost tripled in the last five years. Representatives from both sides have acknowledged that such a huge trade deficit is unsustainable, ...