India's private sectors on Monday exchanged 13 agreements and Memorandums of
Understanding (MoUs) worth nearly US$ 10 billion in the power, energy,
logistics, education and medical sectors during a business event.
A 237-member business delegation from Bangladesh, led by President of the Federation of Bangladesh Chambers of Commerce Industry (FBCCI) Abdul Matlub Ahmad, interacted with nearly 150 members from the Indian business community at the forum.
The Forum also included a session on 'Synergies in India-Bangladesh Economic Relations' which included presentations by State Minister of Foreign Affairs of Bangladesh, Chairman of the Bangladesh Investment Development Authority and sharing of experience by senior representatives of the Indian industry operating in Bangladesh.
Sheikh Hasina was the chief guest at the Forum which was also attended by Minister of State for Petroleum and Natural Gas of India, Dharmendra Pradhan.
The Prime Minister spoke about the achievements of Bangladesh in the last few years in the socioeconomic sphere and invited Indian businessmen to take full advantage of Bangladesh's steady economic growth, high demographic dividend, competitive business cost and large consumer base.
She also invited Indian companies to invest in the special economic zones in Mongla, Bheramara and Mirsarai which have been exclusively dedicated for Indian investors.
Dharmendra Pradhan highlighted the growing engagement between India and Bangladesh in different sectors, including power and energy, and also underlined the economic potential of the sub-region, including India's eastern and northeastern states, and Bangladesh.
Agreements and MoUs exchanged at the Business Event are Facility Agreement between Bangladesh India Friendship Power Company Limited (BIFPCL) and EXIM Bank of India for debt financing construction of 1320 MW Maitree Power Project in Rampal, Bangladesh; Implementation Agreement and Power Purchase Agreement between Reliance Power and Ministry of Power, Energy and Mineral Resources for the first phase (718 MW) of the 3000 MW power project at Meghnaghat; Supplementary Agreement between NTPC Vidyut Vyapar Nigam Limited (NVVN) and Bangladesh Power Development Board for supply of additional 60 MW of power from Tripura to Bangladesh; MoU between NTPC Vidyut Vyapar Nigam Limited (NVVN) and Bangladesh Power Development Board for supply of power from Nepal; Implementation Agreement between Adani Power (Jharkhand) Limited and Bangladesh Power Development Board; and Power Purchase Agreement between Adani Power (Jharkhand) Limited and Power Grid Company of Bangladesh Limited for supply of power from 1600 MW Power Plant in Jharkhand.
They also include Heads of Understanding on LNG Terminal Use between Petronet LNG Limited, India and Bangladesh Oil, Gas and Mineral Corporation, (Petrobangla); MoU between Reliance Power and Petrobangla for setting up 500 mmscfd LNG terminal at Kutubdia Island; MoU between India Oil Corporation Limited (IOCL) and Petrobangla for LNG Cooperation; Agreement between Numaligarh Refinery Limited (NRL) and Bangladesh Petroleum Corporation (BPC) for sale and purchase of Gasoil; MoU between Container Company of Bangladesh Limited and Container Corporation of India Limited to Promote and Expand Cooperation between India and Bangladesh in the field of container transportation; MoU between Tamil Nadu Veterinary Sciences University, Chennai, India and Chittagong Veterinary and Animal Sciences University, Chittagong, Bangladesh; MoUbetween Viswabharati, Santiniketan, India and Northern University of Business and Technology, Khulna, Bangladesh; and MoU between Tata Medical Centre, India and Directorate General Medical Service, Bangladesh Armed Forces.