A high-powered Indian business delegation is now here to discuss with government high-ups and business leaders commercial issues that include restrictions on cross-border trade amid diplomatic tensions.
Chandrajit Banerjee, director-general of the Confederation of Indian Industry (CII), is leading the 18-member delegation representing 14 business groups.
Among the 18 members are Rakesh Swamy, group president of Godrej Industries, Suchitra K Ella, co-founder and managing director of Bharat Biotech International Ltd, Binayak Chatterjee, founder and managing trustee of The Infravision, Param Shah, chief executive officer of Arvind Ltd, P J Rajesh, chief operating officer of LMW Global, Rajesh Gupta, regional head of Mahindra Group, Krishna Khatowani, South Asia head of Godrej Consumer Products, Deepak Sharma, group head (international operations) of Forbes Marshall, and M S Guru Prasad, group head (international operations) of Apollo Hospitals.
The two-day visit from Monday happens to come amid strained political and trade ties between the two neighbouring countries since the political changeover in Bangladesh, with bilateral trade and commerce disrupted by restrictions on the use of each other's ports.
The meetings are expected to further strengthen the longstanding economic and commercial engagement between Bangladesh and India and to explore opportunities for expanding bilateral trade, investment and industrial cooperation.
Discussions during the visit will also focus on addressing issues of mutual interest and mutual benefit, identifying emerging areas of cooperation, and facilitating greater engagement between businesses of the two countries.
The delegation is scheduled to meet today (Tuesday) senior members of the government of Bangladesh, including Amir Khosru Mahmud Chowdhury, Minister of Finance and Planning, Khandakar Abdul Muktadir, Minister of Commerce, and Shama Obaed Islam, State Minister for Foreign Affairs.
It will also attend a Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) luncheon and hold discussion with the Bangladesh Investment Development Authority (BIDA).
The luncheon will be graced by Abdul Awal Mintoo, Minister for Environment, Forest and Climate Change, as chief guest.
During the luncheon, the delegation will interact with leading Bangladeshi businesses and industry representatives.
Also, the delegation may meet Prime Minister Tarique Rahman today (Tuesday) before leaving Dhaka on Wednesday morning, sources said.
The visit is being seen as significant as Bangladesh seeks foreign investment and jobs. "Businesses in both countries seek to sustain commercial ties," a commerce official said.
A senior official of commerce ministry said bilateral trade relations between Bangladesh and India were facing fresh strains as New Delhi imposed anti-dumping duties and non-tariff barriers on key Bangladeshi exports.
"The restrictive measures targeted jute goods and land-port apparel shipments," he added.
"The visit will focus on job creation, market access, non-tariff barriers, trade facilitation and investment, with Bangladesh also seeking greater Indian investment," he told the FE.
Meanwhile, uncertainty looms over Prime Minister Tarique Rahman's possible New Delhi visit following an invitation from Indian Prime Minister Narendra Modi.
Trade restrictions and lingering political tensions have further strained ties between the two next-door neighbours. India has barred Bangladeshi goods from transiting through its airports, while Bangladesh has restricted Indian yarn import through land ports.
The Indian business delegation visit to Bangladesh is maiden since the fall of the Sheikh Hasina government in the August-2024 uprising.
Bilateral trade between Bangladesh and India currently stands at more than US$12.70 billion by official count, with Bangladesh's exports to India accounting for only about $1.76 billion.
Bangladesh's trade deficit with India widened to $9.21 billion in the fiscal Year (FY) 2025-26 from $7.86 billion a year earlier, according to data from the National Board of Revenue (NBR).
Total bilateral trade rose to $12.72 billion in FY26 from $11.39 billion in FY25, driven mainly by higher imports from India.
Bangladesh's imports from India increased to $10.96 billion in FY26 from $9.62 billion, while exports edged down to $1.76 billion from $1.77 billion.
Bilateral trade peaked at $15.68 billion in FY2021-22, when Bangladesh's imports from India reached $13.69 billion. The trade deficit also hit a five-year high of $11.70 billion that year.
The deficit narrowed to $7.72 billion in FY2022-23 and further to $7.43 billion in FY2023-24 before widening again in the following two fiscal years.
Bangladesh's exports to India also peaked at $1.99 billion in FY2021-22 but remained below $1.8 billion in each of the subsequent four fiscal years in a climb-down.
