Friday, 19th April, 2024
Friday, 19th April, 2024

Razzaque seeks India’s investment in agro-processing, agro-mechanization

Agriculture Minister Dr Muhammad Abdur Razzaque on Tuesday sought India’s invest in public-private sector in agro-mechanization and agro-processing in Bangladesh.

“We want to see India’s cooperation in agricultural processing. Indian companies can set up manufacturing plants in the economic zone of Bangladesh,” he said.

The minister made the call at a digital conference between the two countries to enhance India-Bangladesh mutual cooperation in the field of agriculture this afternoon.

The agriculture minister added that the market for agricultural machinery in Bangladesh is around 1.2 billion dollars a year, which is growing at a rate of 10 per cent per year.

If India invests in this huge market both publicly and privately, both countries will get the benefit, he said, adding that establishment and assembly of agricultural machinery in Bangladesh will create employment in the country and on the other hand farmers will be able to buy machinery at lower prices also.

The conference was jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the Confederation of Indian Industry (CII) at the FBCCI Auditorium here.

The minister said Bangladesh is moving towards agricultural mechanization.

The government has provided combined harvesters, reapers and other agricultural equipments to the farmers with 50 to 70 percent subsidy through Taka 200 crore this year, he said, adding that in addition to that a project worth Tk 3,000 crore has been taken through which about 51,000 agricultural equipments will be provided.

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