Eight MoUs worth $ 75 million were signed between Indian firms and Bangladesh companies in Chennai. The MoUs were across sectors including textile, finance, plastic, infrastructure, IT & technology, software development and manufacturing. The MoUs were signed by corporates at India-Bangladesh Investor’s Meet organised by the Confederation of Indian Industry (CII).
MoU worth an initial sum of $5 million was signed for joint partnership between ARD Group and Nittol Center for 3 wheelers, one worth $20 million was signed between Arma Group of companies and UBE industries for Infrastructure, $12.5 million was signed between Euro India Cylinders Limited and Dhaka Cotton Company for the Manufacturing Industry.
Similarly $2.5 million was signed between Nittol plastic Industries and Container seals and Industries for the Plastic Industry, $ 5 million was signed between Good Lift tyre and FAS Finance and Investment Limited for tyres, $ 30 million was signed between Arvind Limited with Nittol Motors Limited for the textile sector.
Param Projects signed an MoU with Aamra Technologies Limited for global outreach in the market for E-commenrce as an expression of Interest and Novel Soft Pvt Ltd signed an MoU with Aamra Technologies for Software Development.
Syed Abdus Samad, Executive Chairman, Board of Investment, Bangladesh said in order for both the countries to progress, the future project ventures which we have planned will synergise the India-Bangladesh relationship in the right direction.
N K Ranganath, Past Chairman, CII, Tamil Nadu, said Government of Bangladesh facilitates and provides all the support to the potential investors from India. With this encouragement there are 270 direct and joint venture proposals from India constituting $2.5 billion worth of investment in the major sectors including Agro-based, Chemical industries, engineering and Service sector which in turn have created 51,653 jobs in Bangladesh.
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