While the verdict was termed as "win-win" situation by Bangladesh, India said it was "studying" the "full implications" of the verdict by the arbitration tribunal.
"The Arbitration Tribunal for Delimitation of Maritime Boundary between Bangladesh and India, established under Annex VII of the UN Convention of Law of the Sea (UNCLOS), rendered its award on July 7, 2014.
"We respect the verdict of the Tribunal and are in the process of studying the award and its full implications," the Spokesperson in the External Affairs Ministry said here.
Meanwhile, Bangladesh described the verdict a "win-win" situation for the parties as it resolved a long-standing bilateral conflict.
"By finally resolving a problem that had been an issue in the side of bilateral relations for so long and by doing so peacefully and according to international law, the award (judgement) enables both sides to move forward confidently into a new future and to build a new era of understanding and cooperation in the maritime sector," Foreign Minister A H Mahmood Ali said in Dhaka.