Black_cats
ELITE MEMBER
- Dec 31, 2010
- 10,032
- -5
India on project-opening spree amid China’s attempt to woo Bangladesh
ANI
Recently China not only tried to lure Bangladesh via trade concessions, which critics dubbed a 'dual-deficit and debt trap', but also tried to use Bangladesh population for anti-Covid vaccine trial.
Synopsis
As part of the latest initiative, 10 broadgauge (BG) locomotives were handed over to Dhaka by external affairs minister S Jaishankar and railways minister Piyush Goyal on Monday.
By Dipanjan Roy Chaudhury, ET Bureau
Last Updated: Jul 28, 2020, 08:24 AM IST
2
New Delhi: India has taken a slew of initiatives, including launch of a multi-modal link via Chittagong port to Bangladesh, over the past two weeks for strengthening the trade ties amid China’s bid to increase influence in the country’s eastern neighbourhood.
As part of the latest initiative, 10 broadgauge (BG) locomotives were handed over to Dhakaby external affairs minister S Jaishankar and railways minister Piyush Goyal on Monday.
Recently China not only tried to lure Bangladesh via trade concessions, which critics dubbed a 'dual-deficit and debt trap', but also tried to use Bangladesh population for anti-Covid vaccine trial. Last week, Dhaka put on hold its earlier decision to allow the trial.
India and Bangladesh are jointly working to enhance rail connectivity by developing some crucial projects as well as by restoring some old rail links, said sources.
Atotal of 17 railway sector projects have been included in the Line of Credit (LoC) assistance extended by India to Bangladesh, with a commitment of $2.44 billion.
India has offered all LoCs to Bangladesh at a rate of interest of 1% per annum, repayment over 20 years with a moratorium for five years. Last Friday, the first container train to connect the two countries through Petrapole-Benapole border in West Bengal departed India. This train carried 40 containers of fast-moving consumer goods cargo and 10 containers of fabrics.
ADVERTISEMENT
In June, Bangladesh railways had increased its monthly allocation of freight trains to Indian Railways by about a third. For the first time the Indian Railways ran a special parcel train beyond the country’s borders to Benapole in Bangladesh with dry chillies from Andhra Pradesh.
Last week the two countries also marked another historic achievement towards strengthening India Bangladesh maritime partnership. The first time ever movement of container cargo from Kolkata to Agartala through the Chattogram Port was successfully concluded. With this, the distance and time taken in transportation of goods for India, particularly the north-eastern states, will get reduced. It will enhance business services and revenue generation in Bangladesh, said people in the know.
This movement was undertaken under the agreement on use of Chattogram and Mongla Ports for movement of India’s transit cargo through Bangladesh.
Of total LoC exposure of India of more than $30 billion to 64 countries, $8 billion has been given to Bangladesh, making it the largest recipient (26%). India has also given an outright grant to Bangladesh totalling $155 million focused on projects relating to sanitation, waste management and urban planning.
https://www.google.com/amp/s/m.econ...o-woo-bangladesh/amp_articleshow/77206516.cms
ANI
Recently China not only tried to lure Bangladesh via trade concessions, which critics dubbed a 'dual-deficit and debt trap', but also tried to use Bangladesh population for anti-Covid vaccine trial.
Synopsis
As part of the latest initiative, 10 broadgauge (BG) locomotives were handed over to Dhaka by external affairs minister S Jaishankar and railways minister Piyush Goyal on Monday.
By Dipanjan Roy Chaudhury, ET Bureau
Last Updated: Jul 28, 2020, 08:24 AM IST
2
New Delhi: India has taken a slew of initiatives, including launch of a multi-modal link via Chittagong port to Bangladesh, over the past two weeks for strengthening the trade ties amid China’s bid to increase influence in the country’s eastern neighbourhood.
As part of the latest initiative, 10 broadgauge (BG) locomotives were handed over to Dhakaby external affairs minister S Jaishankar and railways minister Piyush Goyal on Monday.
Recently China not only tried to lure Bangladesh via trade concessions, which critics dubbed a 'dual-deficit and debt trap', but also tried to use Bangladesh population for anti-Covid vaccine trial. Last week, Dhaka put on hold its earlier decision to allow the trial.
India and Bangladesh are jointly working to enhance rail connectivity by developing some crucial projects as well as by restoring some old rail links, said sources.
Atotal of 17 railway sector projects have been included in the Line of Credit (LoC) assistance extended by India to Bangladesh, with a commitment of $2.44 billion.
India has offered all LoCs to Bangladesh at a rate of interest of 1% per annum, repayment over 20 years with a moratorium for five years. Last Friday, the first container train to connect the two countries through Petrapole-Benapole border in West Bengal departed India. This train carried 40 containers of fast-moving consumer goods cargo and 10 containers of fabrics.
ADVERTISEMENT
In June, Bangladesh railways had increased its monthly allocation of freight trains to Indian Railways by about a third. For the first time the Indian Railways ran a special parcel train beyond the country’s borders to Benapole in Bangladesh with dry chillies from Andhra Pradesh.
Last week the two countries also marked another historic achievement towards strengthening India Bangladesh maritime partnership. The first time ever movement of container cargo from Kolkata to Agartala through the Chattogram Port was successfully concluded. With this, the distance and time taken in transportation of goods for India, particularly the north-eastern states, will get reduced. It will enhance business services and revenue generation in Bangladesh, said people in the know.
This movement was undertaken under the agreement on use of Chattogram and Mongla Ports for movement of India’s transit cargo through Bangladesh.
Of total LoC exposure of India of more than $30 billion to 64 countries, $8 billion has been given to Bangladesh, making it the largest recipient (26%). India has also given an outright grant to Bangladesh totalling $155 million focused on projects relating to sanitation, waste management and urban planning.
https://www.google.com/amp/s/m.econ...o-woo-bangladesh/amp_articleshow/77206516.cms
