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Wednesday, April 14, 2021

National income may gain 8% from connectivity with Bangladesh: World Bank

“This is especially true as the region begins its economic recovery from the Covid. Ultimately, connectivity offers the promise of long term sustainable and inclusive growth,” said Junaid Ahmad, World Bank country director in India.

By: ENS Economic Bureau | New Delhi |
March 10, 2021 3:15:18 am
Small savings scheme interest rate cut, PPF interest rate cut, govt cuts interest on savings, Senior Citizens Savings Scheme interest rate cut, indian expressInterest rates for small savings schemes are notified on a quarterly basis.

Seamless transport connectivity with Bangladesh has the potential to increase India’s national income by as much as 8 per cent and Bangladesh’s by 17 per cent, according to a new World Bank report. With the eastern sub-region poised to become an “economic growth pole” for South Asia, it is important for countries to invest in connectivity to achieve this potential, according to the financial institution’s India head.

“This is especially true as the region begins its economic recovery from the Covid. Ultimately, connectivity offers the promise of long term sustainable and inclusive growth,” said Junaid Ahmad, World Bank country director in India.

The World Bank’s previous analysis indicates that India’s exports to Bangladesh can increase by 126 per cent, and Bangladesh’s exports by 182 per cent, if the countries signed a free trade agreement. “This analysis found that improving transport connectivity between the two countries could increase exports even further, yielding a 297 per cent increase in Bangladesh’s exports to India and a 172 per cent increase in India’s exports to Bangladesh,” it stated in a release.

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