'India’s experiences in SME development can be used in Bangladesh'

Bangladesh may use the Indian experience in the development of their small and medium enterprises, analysts said today.

They spoke at a discussion between CII and FMC delegation at the office of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

For developing cooperation, SME Foundation Managing Director Md Mafizur Rahman called for signing an memorandum of understandung between SME foundation and its Indian counterpart.

While chairing the meeting, FBCCI President Md Jashim Uddin said, Bangladesh has huge potential in the cluster-based SME.

Both the countries can benefit if Bangladesh can harness the Indian experience in flourishing SMEs, he said.

Around 80 per cent of the businesses operating in Bangladesh are SMEs. Hence, there is no alternative to SME development to keep the economic pace afloat, the FBCCI president added.

He also urged the banks to come forward to disburse more loans to SMEs.

He also recommended implementing a "one district, one product" campaign and developing clusters based on raw materials available in the districts.

Senior Adviser of the Foundation of MSME Cluster (FMC) in India Dr Tamal Sarkar came up with a power point presentation highlighting the development of Indian SMEs.

Echoing the event's Bangladeshi speakers, he said both India and Bangladesh share the common nature of SMEs, market demand and culture as well.

Therefore, Indian experience may appear to be effective to improve the Bangladeshi SME scenario.

Former general manager of Small Industry Development Bank of India (SIDBL) and FMC India's consultant Surendra Srivastava and CII director Amit Kumar also spoke at the meeting.

FBCCI Senior Vice President Mostofa Azad Chowdhury Babu, Vice-Presidents Md Amin Helaly, Md Habib Ullah Dawn, Directors and Secretary General Mohammad Mahfuzul Hoque were also present in the meeting.