India to Import Vehicles from Bangladesh?

This question may put on stand various critics and car companies in India, raising the only one question from their end, whether the cars produced in India aren’t upto the mark for which we needed to import vehicles from Bangladesh? To their answers, the cars from India were taxed heavily in Bangladesh in the recent times with a reason to that neighboring country been getting burdened under the weight of heavy imports from our nation, and hence affecting the economical figures extensively. So to curb down the imports from India they started promoting their own vehicles, and reflected consumers to stop buying India-made vehicle to evade the burden of imports from economical scenario. Now, a report on internet is said the Indian government to be considering the import of automobiles from Bangladesh (we mean they can ply on Indian roads by directly entering the nation) to ease up the heck of import-export fiasco and let our carmakers cash in that market, which would then balance the situation of trade between both the countries.

“Once the (new) minister is here, we will move a cabinet note to unilaterally allow motor vehicles from Bangladesh into the Indian Territory, which will lead to significant reduction in transaction costs for imports and exports,” said a commerce department official.

India to Import Vehicles from Bangladesh?

The said blueprints of increasing Bangladeshi vehicles plan inhibits fiery flakes when the Prime Minister designate Narendra Modi went saying, he will improve ties with the neighboring countries as being a head of SAARC, and invited all of them to his swearing-in ceremony today.

This isn’t the first time the India and Bangladesh are getting closer to this sort of deal. Earlier, it too had come close to signing a bilateral Motor Vehicles Agreement (MVA), which would have enabled vehicles from both sides to enter and ply within the other’s territory. The two countries then agreed to work towards concluding the MVA in a peaceful manner when Prime Minister Manmohan Singh visited Bangladesh in 2011 and held talks with his counterpart Sheikh Hasina. However, Bangladesh has not responded to the draft MVA till date, prompting the Indian side to act on it unilaterally.

Let’s see what the new PM of India will designate the future of the automotive industry of both the nations. Reportedly, Bangladesh Prime Minister Sheikh Hasina is said to miss Modi’s swearing-in ceremony.

Source: ET

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