Modi, Hasina must lay ground for borderless economy between India, Bangladesh

[Imran Khan]

one nation one economy no borders . borders did nto make any sense

 

[Chhatrapati]

I am not so sure this is a good idea as the BD economy is likely to do so much better than India over the coming decades.

The economy of Bangladesh is way too on the lower side of complexity to outperform anyone. Not to mention your overreliance on the LDC quota and your inability to diversify. I wouldn't bet too much on BD and be cautiously optimistic.

 

[SpaceMan18]

The economy of Bangladesh is way too on the lower side of complexity to outperform anyone. Not to mention your overreliance on the LDC quota and your inability to diversify. I wouldn't bet too much on BD and be cautiously optimistic.

Eh true but again the country is definitely trying to diversify it's economy by going into electronics and maybe even EVs in the future and certain Mega projects will be done which will make the economy grow even faster.

Bangladesh will be forced to diversify it's economy by 2024 , it's infrastructure definitely needs some help lol

 

[UKBengali]

The economy of Bangladesh is way too on the lower side of complexity to outperform anyone. Not to mention your overreliance on the LDC quota and your inability to diversify. I wouldn't bet too much on BD and be cautiously optimistic.

This is what has been said for the last 1-2 decades - that BD economy is not diversified enough and growth was believed to come crashing down by 2020. It is 2021 and BD is still powering ahead very strongly.

Guess what? BD is a diversified economy when it comes to internal economy, it is just exports that are the problem. BD companies dominate the pharmaceuticals and electronics sectors in the home market by quite some distance from foreign competitors.

BD is making progress on the export front, although at this stage it cannot be seen as the garment sector is so huge. Electronics, IT and Pharmaceuticals are growing exports at a lot faster rate than garments over the last few years, although their tiny size in comparison to garments means it is not obvious the diversification that is slowly happening to BD's export basket.

As for India, it would never be able to keep up with the economic speed and efficiency of a unitary state like BD that does not have a multitude of ethnicities all fighting for their corner in the Indian Union. Look at India's growth over the last decade compared to what was projected and obvious that the projections for India were too optimistic.

BD make not become appreciably wealthier than India as a whole in terms of per capita income as I think India will do decently in GDP growth over the next few decades, but there is every chance it could be the economic engine in its region and then becoming a magnet to attract millions of Indians who have little economic opportunity in the NE states,W Bengal and the BIMARU states that fall ever more behind the rest of India.

BD has nothing to gain by becoming a dumping ground for those millions that will be left behind in India with a lack of opportunity unless they move to BD in the coming decades.

 

[SpaceMan18]

This is what has been said for the last 1-2 decades - that BD economy is not diversified enough and growth was believed to come crashing down by 2020. It is 2021 and BD is still powering ahead very strongly.

Guess what? BD is a diversified economy when it comes to internal economy, it is just exports that are the problem. BD companies dominate the pharmaceuticals and electronics sectors in the home market by quite some distance from foreign competitors.

BD is making progress on the export front, although at this stage it cannot be seen as the garment sector is so huge. Electronics, IT and Pharmaceuticals are growing exports at a lot faster rate than garments over the last few years, although their tiny size in comparison to garments means it is not obvious the diversification that is slowly happening to BD's export basket.

As for India, it would never be able to keep up with the economic speed and efficiency of a unitary state like BD that does not have a multitude of ethnicities all fighting for their corner in the Indian Union. Look at India's growth over the last decade compared to what was projected and obvious that the projections for India were too optimistic.

BD make not become appreciably wealthier than India as a whole in terms of per capita income as I think India will do decently in GDP growth over the next few decades, but there is every chance it could be the economic engine in its region and then becoming a magnet to attract millions of Indians who have little economic opportunity in the NE states,W Bengal and the BIMARU states that fall ever more behind the rest of India.

BD has nothing to gain by becoming a dumping ground for those millions that will be left behind in India with a lack of opportunity unless they move to BD in the coming decades.

BD needs to think like South Korea if it wants to succeed , BD can become developed but sadly too much obstacles like corruption and leadership who's pro Indian.

I don't see South Korea being dictated by Japan why tf should we be dictated by India

 

[fitpOsitive]

Modi, Hasina must lay ground for borderless economy between India, Bangladesh

Be it geography, climate, economy or culture, Bangladesh, West Bengal and Northeast India form a natural sub-region.

SANDIP GHOSE26 March, 2021

File image of PM Narendra Modi with Bangladeshi Prime Minister Sheikh Hasina | Photo: @narendramodi | Twitter

Prime Minister Narendra Modi’s visit to Bangladesh is expected to be momentous, both in optics and substance. Though the contexts are vastly different, the mood is being compared with the Mujibur Rahman–Indira Gandhi days. Undeniably, the trust quotient between the two countries has risen during the tenures of Modi and Bangladesh Prime Minister Sheikh Hasina. The chemistry between the two leaders is palpable. This arises primarily from India’s unflinching support to the Sheikh Hasina government in the face of domestic opposition and meddling by external actors. In turn, Dhaka has earned the confidence of Delhi by demonstrating low tolerance for radicalism and greater sensitivity to India’s security concern.

It is little surprise, therefore, that the Indian Prime Minister is at the centre of the celebrations of Bangladesh’s 50 years of independence, which will also be attended by leaders of other SAARC countries. It is no mean honour that Narendra Modi will be addressing the people of Bangladesh from the historic National Parade Ground in Dhaka on the occasion of Bangladesh’s National Day. An elegant way of signalling to the world that the special bond between the two countries remains strong even after five decades.

As per standard protocol for high-profile State visits, there will be a series of agreements and pious declarations about the friendship between the people and shared cultural heritage. More serious discussions on security and border issues will, of course, happen in camera. The perennial subjects of river water sharing and land transit corridors will grab headlines. On this trip, for good measure — with an eye on the Bengal and Assam elections — a couple of temple visits have also been thrown in. However, one is not sure how high will trade and commerce be on the agenda, besides some routine agreements and statements of intent on tariff concessions, market access and joint initiatives in few areas like energy, gas and ports.

The best way to step up the bilateral relationship would be through a quantum shift in the trade and economic architecture of the two countries. The impact of collaborative strategy will not only maximise synergies but have a positive fall out on other strategic areas as well.

Two elementary data points bring home the huge potential that is waiting to be unlocked.

Formalise the informal trade

First, the value of ‘informal’ trade between India and Bangladesh is equal to, and by some estimates even greater than, formal trade. Interestingly, studies reveal that the goods and commodities engaged are not products of the bordering areas. In the case of ‘informal exports’ from India, a bulk of the material comes from far away states in the western and northern parts of the country. A large proportion of goods coming in via Bangladesh are products of third countries. Of course, these statistics do not include trade in contraband items and illegal exports such as livestock.

Second is the huge trade imbalance. Although India features at the top of Bangladesh’s import list, in terms of exports, it ranks way down at number ten or eleven – even below countries like Belgium and the Netherlands. There are also some glaring anomalies. For example, even though Bangladesh exports small quantities of rice seeds (mostly speciality breeds), the bulk of its own imports of rice seeds are from China. This is counterintuitive if not unreal.


Be it geography, climate, economy or culture, Bangladesh, West Bengal and North-East India form a natural sub-region. Without dissolving the artificial boundaries created in the non-sovereign domains, the area will remain forever trapped in a suboptimal equilibrium. Time and circumstances are conducive for breaking that status-quo and both countries must seize the moment.

New phase of collaboration

India’s Look East Policy has gained momentum with the Modi government grasping the geo-strategic importance of the region. This is evident in the development work undertaken, particularly in creating vital infrastructure that was languishing for a long period. Bangladesh on its part too – riding on the back of a stable polity – has leap-frogged on both economic and human indices. It is clearly a star of South Asia.

Therefore, the two countries are now well placed to give shape to a new phase of collaboration based on mutual trust and self-confidence. However, this would be possible only by integrating supply and value chains – leveraging natural and human potential with a borderless economy to make both countries Atmanirbhar.


India’s potential for being a large market for Bangladesh will not be realised just by tariff adjustment. For export of value added goods into India, Bangladesh needs a marketing infrastructure. Why can’t, for example, India’s Khadi and Village Industries Commission partner with Bangladesh to market each other’s products, instead of competing in the international market? Possibilities like this abounds.

Some initiatives being undertaken by the Modi government in eastern and north Eastern India can be easily extended to Bangladesh with reciprocal advantage. A couple of programmes come to mind at once. The Blue Revolution India is looking at developing inland fisheries, fish landing harbours on rivers and fish processing units, which have equal relevance for Bangladesh. The two countries can develop an international tourism circuit starting from the Sunderbans in the south to Bhutan, Sikkim, Arunachal in the north. There can be lateral extensions to Myanmar in the east and Bengal and Odisha coasts to the west.

Healthcare, education and labour mobility

Two other areas that offer great opportunity are education and healthcare. Prior to 1947, Dhaka and Kolkata were the twin centres of education in the east. Some of the intellectual stalwarts of post-Independence India (Satyen Bose, R.C. Majumdar, Leela Roy, Buddhdev Bose, Meghnad Saha, among others) came from the erstwhile East Bengal. Not only can this exchange re-start, but with the emphasis of education in local languages in the New Education Policy, there is scope for developing common curriculum in Bengali for higher studies.

There is a large inflow of medical tourists into India from Bangladesh, belonging to different economic strata. Majority of them come through informal channels routed through agents and touts. The affluent Bangladeshis now travel to countries like Thailand, Singapore and to the West for treatment. There is scope for both investment by private players from India to set up hospitals in Bangladesh as well as regularise all medical tourism into India. Why can’t AIIMS look at a Dhaka facility in collaboration with the Bangladesh government?

Finally, coming to the controversial area of labour mobility.

In this day and age of digital identity, if there is will, both countries can find a way to facilitate legitimate movement of people across borders for employment against proper contracts and work-permits. There will, of course, be a certain percentage of leakages and people slipping through the net as it happens with other countries that share land borders. But, the situation will be in far better control than today’s rampant illegal immigration.

Unless there is growth in bona-fide earning and employment in the economically deprived border areas, they will forever remain under the clutches of nefarious operators. This menace will only grow because the border is porous (and hence, fertile) ground for breeding criminality and insurgency.

In shaping any partnership, the meeting of minds is a pre-condition. But matching of wavelengths is also critical. Narendra Modi and Sheikh Hasina are endowed with the vision to forge a holistic strategy to make the region an economic powerhouse.

Sandip Ghose is a marketing executive and popular blogger on current affairs. He tweets @SandipGhose. Views are personal.

Edited by Anurag Chaubey

Modi, Hasina must lay ground for borderless economy between India, Bangladesh

Be it geography, climate, economy or culture, Bangladesh, West Bengal and Northeast India form a natural sub-region.

www.google.com

Modi, Hasina must lay ground for unification.

 

[Chhatrapati]

This is what has been said for the last 1-2 decades - that BD economy is not diversified enough and growth was believed to come crashing down by 2020. It is 2021 and BD is still powering ahead very strongly.

Guess what? BD is a diversified economy when it comes to internal economy, it is just exports that are the problem. BD companies dominate the pharmaceuticals and electronics sectors in the home market by quite some distance from foreign competitors.

And it's still true, your economic diversification is still on the backburner. It takes decades for a country to set manufacturing of Pharma and become a viable export partner, lest IT.

BD is making progress on the export front, although at this stage it cannot be seen as the garment sector is so huge. Electronics, IT and Pharmaceuticals are growing exports at a lot faster rate than garments over the last few years, although their tiny size in comparison to garments means it is not obvious the diversification that is slowly happening to BD's export basket.

As for India, it would never be able to keep up with the economic speed and efficiency of a unitary state like BD that does not have a multitude of ethnicities all fighting for their corner in the Indian Union. Look at India's growth over the last decade compared to what was projected and obvious that the projections for India were too optimistic.

BD make not become appreciably wealthier than India as a whole in terms of per capita income as I think India will do decently in GDP growth over the next few decades, but there is every chance it could be the economic engine in its region and then becoming a magnet to attract millions of Indians who have little economic opportunity in the NE states,W Bengal and the BIMARU states that fall ever more behind the rest of India.

BD has nothing to gain by becoming a dumping ground for those millions that will be left behind in India with a lack of opportunity unless they move to BD in the coming decades.

Your claims are all in here, there is nothing on paper that shows you magically switched from exporting garments to exporting IT services and Pharma. All in the future.

Coming to India, India is never in competition with Bangladesh on any economic indicators. Your economy is still heavily dependent on the LDC quota you're provided with. I don't even want to start with the old BIMARU states or your outlandish dream of Indians coming to work in BD.

Eh true but again the country is definitely trying to diversify it's economy by going into electronics and maybe even EVs in the future and certain Mega projects will be done which will make the economy grow even faster.

Bangladesh will be forced to diversify it's economy by 2024 , it's infrastructure definitely needs some help lol

To manufacture EV one must have at least one natural resource or a market that favours EV, BD has none. You can't simply manufacture EV like stitching clothes. Start small, build bikes that can be exported, cars, trucks etc...

Yeah, 3 years your diversification needs to accelerate at a pace that's impossible for even countries like Vietnam. Good luck.

 

[Azadkashmir]

it is time hasina baby hooks up in public with modi sarkar.

 

[Bilal9]

You are talking as if BD has become a 1st world country like Sweden, Norway, etc where Indians will now start jumping over border, go by boats and enter illegally to avail all the 1st class benefits of a 1st world country. Bohot badhiya!
Just to let you know, UK where you are living in and BD are different countries.

GDP per capita for Bangladesh is already higher than that of India. Only a few states in India have economies better than Bangladesh still - and this will change.

Bangladesh exceeds Indian HDI markers in so many different areas. 2/3's of Indians don't do their business in toilets. While open defecation rate in Bangladesh is close to zero.

So many Illegal Indians in Dhaka, lakhs of them, doing low level jobs.

You'd know all this if you were better informed.

I get your point, but you can definitely close your borders when BD surpasses India immensely in economic growth and the gap is enormous (which I doubt will happen).

When one makes a statement, there has to be a basis to it.

I'd like to know why you doubt Bangladesh will surpass India in economic growth.

First - your bhakts want to lay barbed wire across the border, now they want to "open" borders. Why will it be always your whim only?

We should have some say so.

 

[Bilal9]

This is what has been said for the last 1-2 decades - that BD economy is not diversified enough and growth was believed to come crashing down by 2020. It is 2021 and BD is still powering ahead very strongly.

Guess what? BD is a diversified economy when it comes to internal economy, it is just exports that are the problem. BD companies dominate the pharmaceuticals and electronics sectors in the home market by quite some distance from foreign competitors.

BD is making progress on the export front, although at this stage it cannot be seen as the garment sector is so huge. Electronics, IT and Pharmaceuticals are growing exports at a lot faster rate than garments over the last few years, although their tiny size in comparison to garments means it is not obvious the diversification that is slowly happening to BD's export basket.

As for India, it would never be able to keep up with the economic speed and efficiency of a unitary state like BD that does not have a multitude of ethnicities all fighting for their corner in the Indian Union. Look at India's growth over the last decade compared to what was projected and obvious that the projections for India were too optimistic.

BD make not become appreciably wealthier than India as a whole in terms of per capita income as I think India will do decently in GDP growth over the next few decades, but there is every chance it could be the economic engine in its region and then becoming a magnet to attract millions of Indians who have little economic opportunity in the NE states,W Bengal and the BIMARU states that fall ever more behind the rest of India.

BD has nothing to gain by becoming a dumping ground for those millions that will be left behind in India with a lack of opportunity unless they move to BD in the coming decades.

Excellent logical and factual post!

Could not have said it better myself.

 

[UKBengali]

I don't even want to start with the old BIMARU states or your outlandish dream of Indians coming to work in BD.

Dude, BD has 3 times the per capita of Bihar. BD itself may only end up maybe 1.5-2 times the per capita of India average in 2-3 decades but the gap between it and some of the neighbouring Indian states is and will be huge and that is the problem with open borders.

BD is just a few tens of kms away from Bihar and do you think the impoverished masses will want to trudge all the way to Delhi and Mumbai or you think it makes sense for them to migrate to neighbouring BD when there are open borders between the 2 countries? Now maybe some Hindus will not want to go to predominantly Muslim BD but that will not be the case for the 10s of millions of Indian Muslims that live around BD.

Open borders can only help India but not BD and that is why it must not happen as regards BD's interest. Yes, some Indians that BD has a specific economic need for can come and work in BD like they already do(along with maybe a million or more illegals) but no open borders please.

 

[Bilal9]

To manufacture EV one must have at least one natural resource or a market that favours EV, BD has none. You can't simply manufacture EV like stitching clothes. Start small, build bikes that can be exported, cars, trucks etc...

Yeah, 3 years your diversification needs to accelerate at a pace that's impossible for even countries like Vietnam. Good luck.

Your overconfidence in India's status as a manufacturing power is only matched by how little you know about your own country (namely piss poor logistics, inbuilt inefficiencies with sweatshops and ramshackle small scale manufacturing to start with) and regrettably - about Bangladesh.

People in Bangladesh are not chest beaters like Indians. We wouldn't claim something if it weren't factual.

 

[Shorisrip]

Your overconfidence in India's status as a manufacturing power is only matched by how little you know about your own country (namely piss poor logistics, inbuilt inefficiencies with sweatshops and ramshackle small scale manufacturing to start with) and regrettably - about Bangladesh.

People in Bangladesh are not chest beaters like Indians. We wouldn't claim something if it weren't factual.

There wouldn't be these comparisons to start with if the Indian political establishment and state-controlled media didn't vilify Bangladesh and Bangladeshis, from being called termites to half of Bangladesh becoming empty if Muslims fall under CAA etc. Lot of Indians, especially the BIMAROU bhaiyyas and northeastern tropical gooks that support the BJP live in a fantasy world thinking Bangladeshis will go to these places with horrendous living standards.

 

[Bilal9]

Your claims are all in here, there is nothing on paper that shows you magically switched from exporting garments to exporting IT services and Pharma. All in the future.

There is no magic switching. Both (or all) can proceed in parallel. By country size (1/8th the size of India by population) we are doing fine, even now.

I know it is in Indian interest to diss Bangladesh as a source for imports - but this won't hold much in the future. Apparel is already lost for India, IT services and Pharma are going to fall too.

In Bangladesh, more than 120 companies export information and communications technology (ICT) products worth nearly $1 billion to 35 countries. It is expected that this will increase to $5 billion by 2021.

By 2030, Bangladesh will be the 24th largest economy. Here's how ICT is driving that growth

The growing strength of the ICT Industry underpins four vital pillars that will support Bangladesh’s transformation to a digital economy by 2021, and a knowledge economy by 2041.

www.weforum.org

This was provided by Times of India,

Coming to India, India is never in competition with Bangladesh on any economic indicators.

As far as export volume to be compared - no. But qualitatively, Bangladesh exports are far and away preferred in overseas markets in first world if quality is considered. India however does great in the third world (especially Africa), owing that India's exports are low grade products meant for price markets. No one can beat India in Hajmola, Kesh Taila and Paan Ghutka exports.

Your economy is still heavily dependent on the LDC quota you're provided with.

Calling BS on that. LDC quota did help in EU, but in US we lost GSP many years ago. Exports to US are still rip-roaringly hot.

I don't even want to start with the old BIMARU states or your outlandish dream of Indians coming to work in BD.

BIMARU is always going to be afflicted with BIMAR.

This is UP school entrance exams ongoing and passing of exam cheater notes. Excellence in education.

Bangladesh has lakhs and lakhs of illegal Indian workers.

I don't know what delusion you live in, but India is not America. Majority of bhookhey nangey people in India need to make a better living if they get paid more in Bangladesh. Not every Indian is as lucky as you are.

http://www.dailyindustry.news/4-5-lakh-indians-working-illegally-bangladesh/

This was a long time ago - the illegal Indian numbers are probably many times more in magnitude...

There wouldn't be these comparisons to start with if the Indian political establishment and state-controlled media didn't vilify Bangladesh and Bangladeshis, from being called termites to half of Bangladesh becoming empty if Muslims fall under CAA etc. Lot of Indians, especially the BIMAROU bhaiyyas and northeastern tropical gooks that support the BJP live in a fantasy world thinking Bangladeshis will go to these places with horrendous living standards.

Agree 100%. These people are living in total ignorance. Ignorance is bliss.

I mean Pharma and IT have been long time stand-ins in the portfolio of Bangladesh exports.

Our Pharma factories are way better equipped than their kanjoosi operations. API park is now finished and we will see who will stop us in Pharma....

These f*ckers are so lazy, they don't even know how to use Google. Aya hai mera IT expert...

 

[Chhatrapati]

Your overconfidence in India's status as a manufacturing power is only matched by how little you know about your own country (namely piss poor logistics, inbuilt inefficiencies with sweatshops and ramshackle small scale manufacturing to start with) and regrettably - about Bangladesh.

People in Bangladesh are not chest beaters like Indians. We wouldn't claim something if it weren't factual.

Nothing as usual apart from temper tantrums.

It is expected that this will increase to $5 billion by 2021.

Yeah, we also expect to land on Mars.

As far as export volume to be compared - no. But qualitatively, Bangladesh exports are far and away preferred in overseas markets in first world if quality is considered. India however does great in the third world (especially Africa), owing that India's exports are low grade products meant for price markets. No one can beat India in Hajmola, Kesh Taila and Paan Ghutka exports.

Yeah, obviously, when you can't compare in quantity you bring up the quality. Give me one Bangladeshi MNC with over a billion-dollar in profit. Just one.