March 10, 2021 3:15:18 am
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.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.