Bangladeshi investors seek Modi’s support for land in Gujarat

Dhaka

Reuters reports that in a meeting on Sunday at Dhaka, the Federation of Bangladesh Chamber of Commerce and Industry told Modi it was seeking 50 acres of land either free of cost or at a nominal price in Gujarat.

“We told him that we want to set up warehouses and retail shops, and for that we will invest $25 million. The purpose is to sell and distribute our garments products directly,” said Matlub Ahmed, president of the Chamber.

“If we get this facility, then our sell will rise to $1 billion from the present $300 million in the next three years.”

After the meeting, he told Reuters that Modi had promised “all cooperation and support” for the proposal.

Indian Prime Minister Narendra Modi gave his support on Sunday to a Bangladeshi proposal to invest $25 million in selling Bangladeshi garments in India, the main Bangladeshi business group said. Modi promised to help to reduce India’s huge trade surplus with Bangladesh.

(Inputs from Reuters)