India calls Bangladesh most important economic and largest trade partner in South Asia

Foreign Secretary Harsh Vardhan Shringla on Tuesday called Bangladesh a “central pillar” of India’s Neighbourhood First policy and stated that Dhaka is New Delhi’s largest trade partner in South Asia. While speaking at a special Ministry of External Affairs briefing, Shringla said that India is Bangladesh's most important economic partner as well as the largest trade partner. The Foreign Secretary went on to say that the bilateral trade between the two nations grew at an unprecedented rate of 14% during the COVID-19 pandemic.    

"Bangladesh is a central pillar of our Neighbourhood First policy. It is also the relationship where this policy intersects the element of our Act East policy. India today, is Bangladesh's most important economic partner and Bangladesh is India's largest trade partner in South Asia. India is the second-largest trade partner of Bangladesh," Harsh Vardhan Shringla said.

Recalling PM Narendra Modi’s visit to the neighbouring country earlier this year, Shringla said that Bangladesh is the only country that is visited by PM Modi, President Ram Nath Kovind and EAM S Jaishankar. He added that the two nations jointly even commenced Maitree Diwas on December 6, which is jointly celebrated with New Delhi and Dhaka and also in capitals all over the world. “Both Prime Ministers issued a special message on this occasion,” Shringla said. 

“In March, our Prime Minister paid a State visit to Bangladesh to join the Triveni of celebration. It is the measure of importance that we accord to our relations with Bangladesh that it is the destination of the first post-pandemic visits both President and Prime Minister. It is also the only country visited by the PM, President and Foreign Minister in the short period of time in the recent past,” he said. 

India-Bangladesh 'better connected than ever'

Further, the Foreign Secretary informed that despite the pandemic, bilateral trade was at an unprecedented rate of 14% from USD 9.46 billion in 2019 to USD 10.78 billion in 2021. Shringla stated that Bangladesh is also “one of our most important" development partners both in terms of value and range of cooperation. “We extend our total global development assistance under lines of credit to Bangladesh,” he added.  

Additionally, the Indian minister said that the two countries have been extending various projects to bring direct benefits to the local community. India and Bangladesh are “better connected than ever before”. Road, rail, air, river and coastal connectivity is increasing and multi-model transports that utilise more than one of these channels is today very much possible, he said. Moreover, Shringla added that joint energy space is steadily emerging, electricity grids are interconnected from east and west with more than 1160 megawatts of power way across from India and Bangladesh. 

Now, to further enhance the ties between the two neighbouring nations, President Ram Nath Kovind has embarked on a three-day State visit to Bangladesh starting from today. According to ANI, the visit is in the context of the 50th Victory Day celebrations in Dhaka for which Bangladesh President Abdul Hamid invited Kovind in a bid to represent India as a guest of honour. 

(With inputs from ANI)