Indo-Bangla automakers can set up joint ventures: Shringla | 2017-02-02 |

Indo-Bangla automakers can set up joint ventures: Shringla

Staff Correspondent     2nd February, 2017 11:41:01 printer

Indo-Bangla automakers can set up joint ventures: Shringla

Indian High Commissioner in Dhaka Harsh Vardhan Shringla on Thursday said the Indian automakers can explore the possibility of working together with the businesses and the government of Bangladesh to promote car manufacturing in Bangladesh by setting up joint ventures here. 


“A number of Indian automobile manufacturers have already set up plants in Bangladesh and others are in the process of establishing their presence here,” said the Indian envoy.


Shringla made the remarks while addressing the inauguration of the first-ever ‘Indo-Bangla Automotive show’ at International Convention City Bashundhara (ICCB) in the capital.


He said Indian investments, including those in the automotive sector, registered with the Bangladesh Investment Development Authority (BIDA) are worth more than $3 billion.


He also said rapid economic growth, growing trade & commercial ties, and economic integration between India and Bangladesh have created the right conditions for sectors such as automobiles in the two countries to come together to explore new opportunities jointly.


Referring to the success of the ‘Make in India’ campaign, the Indian High Commissioner said the Indian automotive industry has the expertise to share and ‘Make with Bangladesh’.


Minister for Road Transport and Bridges Obaidul Quader inaugurated the three-day expo. The Society of Indian Automobile Manufacturers (SIAM) is organising the fair to expand and strengthen the presence of Indian automobile industry in neighbouring countries.


Senior Secretary for Industries Md. Mosharraf Hossain Bhuiyan,

FBCCI President Abdul Matlub Ahmad, India-Bangladesh Chamber of Commerce and Industry (IBCCI) President Taskeen Ahmed, SIAM President Vinod K. Dasari, Bangladesh Automobile Assemblers & Manufacturers Association (BAAMA) President Hafizur Rahman Khan and Bangladesh Motorcycle Assemblers & Manufacturers Association (BMAMA) President Matiur Rahman attended the event, among others.


While addressing the function, Senior Industries Secretary Mosharraf Hossain Bhuiyan said, “Our government now is taking a keen interest in having a policy which will encourage our entrepreneurs to not only assemble but also manufacture, we will work on the development of the policy.”


Development of industry will not only help Bangladesh cater to the domestic market but also help us enhance exports, he added.


“There is great prospects for the automobile industry as our per capita income is increasing. I would urge the Indian manufacturers to help Bangladeshi entrepreneurs,” said the Industries Secretary.


FBCCI President Abdul Matlub Ahmad said, “This is one of the best days for the Bangladeshi automotive industry as India is displaying its auto industry’s capabilities which have evolved as one of the best and most appropriate for markets like Bangladesh.”


He also said the expo is very important for Bangladeshi entrepreneurs to interact with Indian manufacturers and join hands with them and bring new technology to Bangladesh.


Vinod K. Dasari, president of the Society of Indian Automobile Manufacturers (SIAM) and Managing Director of Ashok Leyland, said, “We assure that India will extend whole-hearted support to help develop the automotive industry in Bangladesh, including the development of critical Safety Regulations like Bus Body & Truck Body code to reduce accidents”.


He also announced the inauguration of an Ashok Leyland assembly plant in Dhamrai later in the day.


Tata Motors’ joint venture with the Nitol-Niloy Group has an assembly plant in Jessore and Hero MotoCorp is setting up a two-wheeler plant in Jessore.


Leading Indian and Bangladeshi manufacturers like Runner Automobiles, Ashok Leyland, Bajaj Auto, Eicher Trucks and Buses, Hero MotoCorp, Honda Motorcycles, Mahindra & Mahindra, Maruti-Suzuki, Piaggio, Renault, SML Isuzu, Tata Motors, TVS Motors, Yamaha and their Bangladeshi partners like ACI Motors, Bangladesh Honda, Ifad Autos, Karnaphuli, Niloy Motors, Nitol Motors, Rancon Motors, Rangs Motors, Runner Motors, TVS Auto Bangladesh and Uttara Motors are taking part in the show.