2 more Indian cos to invest in Bangladesh jewellery sector

After Malabar Gold and Diamonds, two other renowned companies of India have expressed interest to invest in jewellery sector in Bangladesh.

Dwarka Gems Dwarka Gems Ltd and Niraj Jewellers of India signed Expression of Interest (EOI) with Nazabi Group and Manna Sarder Pvt Ltd of Bangladesh in this regard, said IBCCI.

Besides, Indian entrepreneurs have expressed their interest in boosting bilateral trade and commerce through large-scale joint venture investments in Bangladesh.

On August 28, Bangladesh Investment Development Authority (BIDA) Executive Chairman Md Sirazul Islam unveiled the information while speaking at a press conference at BIDA conference room in the city, said a press release.

In his speech, Sirazul Islam said entrepreneurs from India are very interested in investing in Bangladesh and they offered to jointly invested Tk 800 crore with Bangladeshi institutions.

Recently, a conference titled "Trade and Investment Prospects between India and Bangladesh" was held in Jaipur, India. It was organised by the Confederation of Indian Industry (Cll) and India Bangladesh Chamber of Commerce and Industry (IBCCI). Press briefing was organised to inform about the outcomes of the conference.

Sirazul Islam said the conference generated interest among the participants and at the end, nine memorandum of understandings (MoUs) and Expressions of Interests (EoIs) were signed between parties mostly for joint ventures ranging from three-wheeler (cargo) manufacturing, generators, and mustard oil plant to solar power to jewelry.

"The amount involved is around Tk 800 crore. The enthusiasm shown in Jaipur led me to believe that Prime Minister's visit to Delhi in September, 2022 will create more interest among Indian investors," he added.

Among others, IBCCI President Abdul Matlub Ahmed also spoke on the occasion.