Bangladesh could use India’s expertise to develop its small and medium-sized enterprises, analysts said at a discussion between IIC and FMC delegations at the Bangladesh Federation of Chambers of Commerce and Industry (FBCCI) office in Dhaka yesterday.
To expand cooperation, SME Foundation Director General Md Mafizur Rahman called for the signing of a memorandum between the SME Foundation and its Indian counterpart.
While presiding over the meeting, FBCCI President Md. Jashim Uddin said Bangladesh has a huge cluster based SME sector.
Both countries can gain advantages if Bangladesh can draw on India’s experience in thriving small and medium-sized enterprises (SMEs), he added.
The president of the FBCCI went on to say that about 80% of the enterprises operating in Bangladesh are SMEs and that there is no other option than SME growth to keep economic speed afloat.
He also suggested banks come forward to offer more loans to SMEs. Uddin also established a crusade of “one district, one product” and created groups based on the raw fabrics available in the districts.
Dr. Tamal Sarkar, Senior Advisor at the MSME Cluster Foundation (MSME) in India, gave a PowerPoint presentation highlighting the situation of Indian SMEs.
Echoing Bangladesh’s speakers at the event, he said India and Bangladesh share the common nature of SMEs, market need and culture.
Surendra Srivastava, former managing director of the Small Industry Development Bank of India (SIDBL) and consultant to FMC India, and Amit Kumar, director of CII, spoke at the meeting.
Mostofa Azad Chowdhury Babu, Senior Vice President of the FBCCI, Vice Presidents Md Amin Helaly and Md Habib Ullah Dawn, Director and Secretary General Mohammad Mahfuzul Hoque were present at the meeting.