The Tata Group's agreement with one of the largest conglomerates in Bangladesh, the Nitol Niloy group, to make footwear and bicycles is likely to bear fruit soon.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
The plant is expected to go into production by this year-end with 1,000 tractors.
Storage battery major Exide Industries Ltd has dropped its plan to set up a manufacturing facility in Bangladesh and also put on hold its joint venture with a Malaysian firm to set up a reclamation plant in India.
Indian two-wheeler majors Hero MotoCorp and Bajaj Auto are the biggest beneficiaries of this surge and, between the two, they are estimated to control about half of the local market there
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