Industry & Economy
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Textiles
India, Bangladesh to boost ties in textile sector
Our Bureau
Mr Mahmudur Rahman, Executive Chairman, Board of Investment, Bangladesh, calling on the Minister of State for Commerce and Industry, Mr E.V.K.S. Elangovan, at his chamber in the Capital on Tuesday. — Ramesh Sharma
New Delhi
,
July 13
INDIA and Bangladesh have explored the idea of forming strategic alliances in the textile sector as to fully realise the potential in the post-MFA (multifibre arrangement) scenario from January 1, 2005.
This was hinted at a meeting between Mr Mahmudur Rahman, Executive Chairman of the Board of Investment, Bangladesh, and the Minister of State for Commerce and Industry, Mr. E.V.K.S. Elangovan.
In the meeting, Mr Rahman said that India has a very strong primary textile sector whereas Bangladesh has strength in the clothing sector. "If both the countries have alliance in textile sector, then it will be a win-win situation for us", he said.
The two-way trade has increased from Rs 810 crore in 1991-92 to Rs 6,917.37 crore in 2003-04 (April to February), an official release said.
Inviting Indian businesses to invest in Bangladesh, Mr Rahman assured the Indian industry that the BOI would clear any proposal within 72 hours of application.
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