India to push Tata-plan

The Indian government is using its decision to allow foreign direct investment (FDI) from Bangladesh, to push for a speedy-clearance of the Tata Group’s plans to invest in Bangladesh.

A notification has now been issued to allow FDI from Bangladesh through the Foreign Investment Promotion Board (FIPB), commerce-minister Jairam Ramesh, has said.

“The Tata investment would be the single largest FDI in Bangladesh, more than all the FDI the country has received till now,” Mr Ramesh told the Economic Times.

India likely to allow FDI from Bangladesh

The Indian government today indicated; it may soon allow foreign direct investment (FDI) from Bangladesh on a selective basis and after security checks.

India currently prohibits FDI from Bangladesh for security reasons.

“We have been reviewing these restrictions with a view to enabling FDI from Bangladesh into India on a case-to-case basis, subject to security clearance,” said minister for commerce Jairam Ramesh.

Bangladesh has been concerned by the trade imbalance between the two neighbours which is heavily in favour of India.

News via PTI

China pips India to bag oil project

NEW DELHI: After stalling gas exports and stonewalling a billion-dollar transnational energy corridor to India, Dhaka has invited Beijing to develop its oil sector and build roads and pipelines that will allow China to ship out exports and import crude, respectively, through two ports in Bangladesh.

Report from > The Times of India

Bangladesh has sought Chinese investments to develop gas reserves and set up industries for making value-added products, such as petrochemicals. It has suggested building roads to connect Kunming with Chittagong and Lhasa with Chalna ports, establishing two regional trade routes via Bangladesh.