HC says India committed to usher in development of Bangladesh
By Our Correspondent, 13/09/2018, New Delhi

High Commissioner to Bangladesh Harsh Vardhan Shringla said, "India is the committed development partner of Bangladesh. For the last few years, the cooperation between the two countries has been unprecedentedly expanded."On Wednesday, he was delivering a speech at the international exhibitions of Textile and Textile Industry sector, International Convention City Bashundhara in Dhaka.Jatiya Sangsad Speaker Shirin Sharmin Chowdhury, State Minister for Jute and Textiles, Mirza Azam MP, FBCCI President Shafiul Islam Mohiuddin, President of Indian Chamber of Commerce Rudra Chatterjee also spoke on the occasion.Shringla said, "The garment industry is making a great contribution in the economy of Bangladesh.

84 per cent of Bangladesh's export earnings come from this industry. This sector is contributing 15 per cent to the GDP of Bangladesh."The exporters of Bangladeshi garment industries had increased in the market of India due to the duty-free quotas in 2011, the High Commissioner said.The export growth increases 115 per cent more in the fiscal year 2017-18 than 2016-17, the High Commissioner added. India is now one of the emerging markets of Bangladesh's export market.India is one of the largest suppliers of raw materials in Bangladesh's ready-made garment industry. About one-fourth of the demand for cotton and yarn in this country comes from India. 25 per cent of India's cotton, yarn and fabric exports come from Bangladesh.Textile engineering industry of India is one of the most important sources of garment machinery in Bangladesh.

Highlighting India as the committed development partner of Bangladesh, High Commissioner Shringla said that the Indian third credit line was upgraded to $5 billion during the visit of Prime Minister Sheikh Hasina to India in April 2017.The total credit of the Indian credit line has increased to 8 billion in Bangladesh.This is the largest Indian credit line than any country. He said that the cooperation between the two countries improved. He also mentioned the jointly inauguration of three development projects by the Prime Minister of Bangladesh Sheikh Hasina, Indian Prime Minister Narendra Modi, Chief Minister of West Bengal Mamata Banerjee and Chief Minister of Tripura Biplob Kumar Dev.The 19th Textech Bangladesh, 14th Dhaka International Yarn and Fabric Show and the 33rd Dye-Bangladesh Expo will continue till September 15.