Prime Minister Narendra Modi has been invited to be the ‘honoured visitor’ on Bangladesh’s 50th Independence Day on 26 March, the day when the marauding Pakistani forces launched Operation Searchlight and allegedly perpetrated the worst type of brutalities and genocide within the erstwhile East Pakistan. Modi’s presence in Dhaka on the day will revive recollections of India’s all-out assist to the Bangladesh liberation battle in 1971when on the face of horrendous cruelties meted out to the hapless folks, greater than 10 million refugees needed to flee and take shelter in India the place they had been prolonged all cooperation and help by the folks and authorities of India.
Modi’s go to to Dhaka can be in reference to three epochal occasions – Mujib Borsho (delivery centenary of Sheikh Mujibur Rahman); 50 years of the institution of diplomatic ties between Bangladesh and India; and 50 years of Bangladesh liberation battle. The go to of the Indian Prime Minister can be his first go to to any overseas nation because the outbreak of Covid pandemic. This reveals the significance India attaches to Bangladesh.
Bangladesh-India relations are multifaceted in nature and rooted in a shared historical past, geographical proximity and commonality of their cultures. The emotional bonds stemming from contribution of India in direction of liberation of Bangladesh stay a dominant issue within the nation’s political, social and cultural internet. Economically and commercially, the 2 nations have gotten more and more nearer. In addition to, the dependence of Bangladesh on the frequent river waters stays an ever current reminder of the umbilical hyperlinks between the 2 nations.
Economics has performed a big position in enhancing bilateral relations between Bangladesh and India. Financial relations between these two nations have over the past couple of years turn out to be multifaceted, embracing commerce transactions, joint ventures, transit services and transport improvement.
Bangladesh occurs to be the recipient of India’s largest ever monetary help. Indian Prime Minister Narendra Modi throughout his final go to to Dhaka (June 6-7, 2015) introduced that India would offer Bangladesh a Line of Credit score of US $ 2 billion. Bangladesh can use the credit score in any approach it needs. The credit score carries lowest ever one per cent rate of interest with a reimbursement interval of 20 years and a 5-year grace interval.
Earlier, in August 2010 India gave Bangladesh $ 1 billion Line of Credit score for use in particular sectors particularly railways. The primary portion of this Line of Credit score was utilized in infrastructure and transport. $ 200 million of $ 1 billion Line of Credit score was later transformed in to a grant. Nearly, barring a negligible portion, the complete quantity has already been paid to Bangladesh. India has made it clear that no curiosity can be charged for $ 200 million that has been transformed in to grant. The remaining $ 800 million carrying one per cent curiosity is getting used to implement 14 initiatives, seven of which have already been accomplished. These embrace 11 initiatives valued at about $630m within the railways sector for the availability of locomotives, tank wagons, flat wagons and brake wagons to Bangladesh.
The personal sector initiative is available in parallel to the Indian authorities’s effort to bolster relations with Bangladesh. India’s Exterior Affairs Ministry has made it clear that India continues to see Bangladesh as a “very, crucial companion,” and it wish to take ahead plans for funding, commerce and joint ventures between the 2 nations. 38 Indian investments had been registered with the Board of Investments (BoI) in Bangladesh for about $183m within the previous years.
Main Indian firms similar to Bharti Airtel, Tata Motors, Solar Pharma, Asian Paints, Marico, Godrej, Venky’s Hatcheries, Parle Merchandise, Forbes and Marshall have invested in Bangladesh within the current previous. On the Bangladesh Funding and Coverage Summit held in Dhaka in 2016, two huge industrial teams of India, Reliance and Adani, dedicated to make large funding in Bangladesh to the tune of US greenback 1,100 crore.
As well as, Indian firms plan to speculate greater than $100m in numerous initiatives in Bangladesh. Numerous Indian and Bangladeshi firms signed proposals to arrange initiatives in sectors similar to limousine companies, manufacturing three-wheelers and software program improvement throughout street reveals held in Chennai and Mumbai just lately.
There are a selection of Indian investments in ready-made garment (RMG) sector like Ambattur Clothes, a Chennai-based firm that began operations in Bangladesh in 2007 and later arrange its personal manufacturing models by means of acquisitions. Helix Garment began operations in Bangladesh greater than a decade in the past. Client manufacturers like Marico and Godrej have consolidated their place in Bangladesh. Indian tire manufacturing large CEAT has tied up with Bangladesh’s A.Ok Khan Group to kind CEAT Bangladesh.
The rising resilience of Bangladesh economic system continues to draw Indian funding. The common financial progress fee within the nation has been over 7.0 % for the final couple of years. The nation has graduated to lower-middle earnings league from lower-income standing. The center class is rising steadily and creating demand for client items and companies. The nation has additionally graduated as creating nation.
This modification in Bangladesh economic system has not gone unnoticed by Indian businessmen and entrepreneurs and a few of them have include direct and joint investments in chosen service and manufacturing sectors. Bharti Airtel, for instance, acquired 70% stake in Warid Telecom Bangladesh. It has additional injected some $ 300 million in subsequent years and renamed it Airtel Bangladesh.
‘Regional connectivity isn’t solely strengthening friendship between Bangladesh and India but additionally proving to be a powerful hyperlink of enterprise’, Prime Minister Sheikh Hasina remarked whereas inaugurating ‘Maitri Setu’ (Friendship Bridge) nearly with the Indian Prime Minister Narendra Modi on March 9. The Indian Prime Minister expressed the view that connectivity between Bangladesh and India will show to be crucial for the north-east area of India and Bangladesh commerce as properly.
Sheikh Hasina lauded India for ‘constructing a affluent area collectively’ and wished for a ‘profitable operation and utilization of the Maitri Setu’. The opening of the bridge is a “testimony to Bangladesh authorities’s continued dedication to assist our neighbor India in strengthening connectivity within the area”, she stated.
In the course of the Indian Prime Minister Modi’s final go to to Dhaka in 2015, two MoUs had been signed to provide 4,600 Mega Watt (MW) electrical energy. Reliance Energy signed MoU with Bangladesh Energy Growth Board to provide 3000 MW by investing $ 3billion. Adani Energy would arrange two coal-fired vegetation with a complete capability of 1,600 MW by investing $ 1.5 billion.
Bangladesh and India have signed MoU to assemble a pipe line for provide of excessive velocity diesel from Numaligarh in Assam to Parbatipur in Bangladesh below a three way partnership undertaking between Numaligarh Refinery Restricted and Bangladesh Petroleum Company. As a goodwill gesture an preliminary consignment of two,200 tons of diesel has been transported from Siliguri in West Bengal to Parbatipur by 50 wagons of Indian Railways. The choice to assemble pipe line was taken throughout Modi’s final go to.
India’s state-owned Bharat Heavy Electricals Ltd (BHEL) is ready to signal an settlement to assemble the 1,320 megawatt (MG) thermal energy station in Khulna. BHEL outbid Larsen and Toubro (L&T) and two Chinese language firms to bag the contract for constructing $ 1.6 billion energy plant having a closing capability of two,640 MW. The Indian concern has emerged because the lowest bidder for this ‘Maitri’ (friendship) undertaking.
The Bangladesh-India Friendship Energy Firm Ltd (BIFPCL), a three way partnership between Bangladesh Energy Growth Board (BPDB) and India’s energy technology main Nationwide Thermal Energy Company (NTPC), had invited bids for turnkey development of two x 660 coal-fired tremendous thermal energy plant arising close to Mongla river port at Rampal, district Bagerhat, Khulna. This undertaking, often called “Maitri Tremendous Thermal Energy Undertaking”, is ready to be the most important in Bangladesh. The facility plant is a partnership between BPDB and NTPC which is able to share fifty-fifty possession of the plant in addition to electrical energy it produces. The undertaking is, nevertheless, presently going through opposition from some environmentalist teams.
On safety facets, Bangladesh-India relations have by no means been higher. Bangladesh has already addressed main points that remained issues of concern from India’s safety perspective for a protracted interval. Bangladesh has handed over to India numerous North East Indian insurgents who had been tenting and executing anti-India operations from Bangladeshi soil. Bangladesh authorities did this although there was no extradition treaty between the 2 sides. Anup Chetia, a serious United Liberation Entrance of Assam (ULFA) rebel and a continuing headache for Indian safety institution, has additionally been handed over to India by the nation.
Bangladeshi safety forces have seized large stockpiles of explosive supplies, damaged up quite a few camps and apprehended quite a lot of Indian insurgents. The arrests and seizures bear witness to vast unfold attain and presence of Indian insurgents in Bangladesh. Throughout BNP-Jamaat rule, Bangladesh state equipment continued to bask in actions endangering India’s safety by actively supporting and helping the ULFA that operated in Bangladesh with ISI backing and patronization.
Bangladesh was being seen as a sizzling vacation spot by the ISI in its try and wage a full-fledged battle in opposition to India. Pakistan needs North East India to stay in perpetual instability in order that it turns into simple for Pakistan to intervene and sever north japanese half from the remainder of India, thus fulfilling Pakistan’s long-cherished want to avenge its defeat and subsequent lack of its japanese half in 1971.
Prime Minister Sheikh Hasina has delivered on all of India’s considerations starting from safety to connectivity. India on its half has accomplished its greatest to reciprocate by giving precedence to provide Covid 19 vaccine to Bangladesh.
Most of the lengthy excellent issues that had existed because the partition of India in 1947 have been resolved. A very powerful of those being strengthening connectivity between the 2 nations by means of resuming the lengthy suspended rail, street and waterway hyperlinks. The alternate of enclaves and the lengthy standing border disputes had been additionally solved and the Indian Parliament confirmed a uncommon gesture of good-will when each homes of the Indian Parliament unanimously voted to ratify the Mujib-Indira accord of 1974 agreeing to alternate adversely situated enclaves and demark the boundaries.
Though a lot of the bilateral disputes between the 2 nations have now been resolved, Teesta river water sharing continues to stay a nagging drawback. The Indian Prime Minister Narendra Modi has repeatedly indicated that the issue can be resolved throughout his tenure. He identified that India works on a federal system and doesn’t take any determination bypassing the involved state authorities. West Bengal authorities which is a stakeholder must be satisfied earlier than taking determination on the Teesta water sharing.
Each the nations have improved not solely their diplomatic ties but additionally deepened their bonds on all fronts together with safety and border administration, commerce, commerce and funding, connectivity, vitality and energy, area, developmental initiatives, tradition and people-to-people exchanges. For the sake of deepening their ties, the 2 nations have signed about 100 agreements within the final couple of years. Most of those agreements should not merely renewal of earlier agreements but additionally initiation of cooperation in excessive expertise areas similar to area, civil and nuclear vitality, IT and electronics, cyber-security and blue economic system to call a number of.
There can be joint monitoring by the overseas places of work of the 2 nations to supervise implementation of all of the accords and agreements. Earlier there had been many agreements however not all of them reached the implementation stage. Now each the nations have determined to interact in shut monitoring of the implementation course of to make sure materialization of the agreements.