The Union Finance Minister, Mr Pranab Mukherjee, said on Saturday that trade relations with Bangladesh are improving and India will take adequate measures to correct the imbalance, if any.
“The overall relation, including trade, is improving with Bangladesh and there is a need to improve trade relations as India exports more than it imports from that country,” Mr Mukherjee said, inaugurating a car pass project between India and Bangladesh at the land customs station at Petrapole in North 24 Parganas in West Bengal. The bilateral trade between India and Bangladesh grew by 45 per cent to $5.099 billion in 2010-2011 (July-June period), against $3.507 billion corresponding period in 2009-10.
In 2010-11, India's exports to Bangladesh stood at $4.586 billion, while its imports from that country were just about $ 0.512 billion.
India's move to allow a large number of items to enter from Bangladesh at zero duty taken last November will help correct the trade imbalance between the two countries to some extent, Mr Mukherjee said.