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Eight memoranda of understanding (MoUs) worth $75 million (around Rs 450 crore) were signed between Indian firms and their Bangladesh counterparts here.
The MoUs, covering sectors such as textiles, finance, infrastructure, information technology and manufacturing, were signed by corporations at the India-Bangladesh Investors' Meet, organised by the Confederation of Indian Industry (CII).
A deal worth $5 million was signed for joint partnership between ARD Group and Nittol Center for three-wheelers, while a $20-million pact was inked between the Arma Group of companies and UBE Industries for Infrastructure.
Euro India Cylinders Ltd and Dhaka Cotton Co have reached a manufacturing deal worth $12.5 million.
Similarly a $2.5-million MoU was signed between Nittol plastic Industries and Container Seals and Industries for the plastic industry, while a $30-million agreement was concluded between Arvind Ltd and Nittol Motors Ltd for the textile sector.
"The future project ventures which we have planned will synergise the India-Bangladesh relationship in the right direction," said Syed Abdus Samad, executive chairman, Board of Investment, Bangladesh.
N K Ranganath, former chairman of the CII's Tamil Nadu chapter, said the government of Bangladesh facilitated and provided all 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 key sectors such as chemical industries, engineering and services.
