India and Bangladesh are two fast-growing economies while one has recently become the 5th largest economy in the world, pushing back the United Kingdom, the other has turned out to be a stable, growing, and robust economy in South East Asia to say the least. Even during the pandemic when the largest and strongest economies of the world, including those in the regions, were facing the heat, Bangladesh was achieving new heights with an increase recorded in its GDP. In such a scenario, the visit of Bangladesh Prime Minister, Sheikh Hasina to India needs to be seen from a broader perspective, revolving around the increase in the trade between the two countries coupled with measures for regional stability.
As her visit continues, India has made it clear that both the countries have decided to extend cooperation in various sectors including IT, space, and nuclear energy, which interests the youngsters and are the sectors where there is an increased investment globally—pushing them to the driving seat of the economies around the world. With world investing and doing more in these sectors, India and Bangladesh, too, have started doing their bit which is not only aimed at strengthening the regional economic ties but also to make some good of losses, too. Over the years, while there has been a considerable increase in the people-to-people cooperation between the two countries, India has always seen Bangladesh as its biggest development and trade partner in the region, and the same calls for taking more measures to strengthen the cooperation on various fronts, such as an increase in the trade, especially in the sectors where both the countries are excelling.
What is more important to note here is that India needs to pull Bangladesh towards it especially because of Chinese influence in the region as there has already been enough of it from Pakistan’s side under the CPEC and to keep up being the role models for neighborhood diplomacy for the greater good of both the countries. For better economics and better ties, both countries have expressed their commitment to fighting terrorism, while India also raised the issue of the protection of minorities. At the same time, Hasina has been bold enough to raise the issue of the Teesta water dispute which has been there for a long time and is an issue of grave concern for Bangladesh. The dispute is a political issue in Bangladesh and Hasina would look forward to solving it once and for all which would not only favor her in domestic politics but also going to level up India and Bangladesh ties as well.
As global affairs witness a power shift, India needs Bangladesh, and Bangladesh needs to focus on strengthening ties with India further for maintaining balance and staying in the race of getting better, economically, with every passing day.
