DHAKA, Oct 19, 2022 (BSS) - Bangladesh may use the Indian experience in the development of their Small and Medium Enterprises (SMEs). 

Speakers opined this at a discussion meeting held on Wednesday morning with CII and FMC delegation at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said a press release.

For developing cooperation, SME Foundation Managing Director Md Mafizur Rahman called for signing an MoU between SME foundation and its counterpart in India.

 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."

 Eighty percent of the businesses operating in Bangladesh are SMEs, he added. 

Hence, he said, there is no alternative to SME development to keep the economic pace afloat. 

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

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

Senior advisor of the Foundation of MSME Cluster (FMC) in India Dr. Tamal Sarkar made a power point presentation highlighting the development of Indian SMEs. 

Echoing the 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, he added.

Former GM 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.