SDB received ABF’s “Corporate Client Initiative of the Year” award, commemorating the success of the Bank’s Dulani Business Center…reports Asian Lite News
The Social Development Bank (SDB) has been honored by Asian Banking & Finance (ABF) — the leading industry organization serving Asia’s financial services sector — for its commitment to empowering small and micro-enterprises across the Kingdom of Saudi Arabia via Dulani Business Center, an SDB-affiliated that provides incubation, capacity building and care for small and micro enterprises.
At a special ceremony held in Singapore, in the presence of over 300 executives from more than 200 banks and 40 countries, SDB received ABF’s “Corporate Client Initiative of the Year” award, commemorating the success of the Bank’s Dulani Business Center in achieving three main standards: distinctive qualitative achievements, effectiveness in performance, and finally the achieved impact on the target groups.
The center has also helped to raise greater awareness of the social responsibility of individuals, entities and enterprises across the Kingdom, calling attention to how they can contribute to and transform society and the national economy for the better. Dulani Business Center’s initiatives have benefited over 100,000 individuals, with 45% of them being women. These initiatives encompassed over 518 development and training programs, along with conducting more than 39,000 consultation sessions, achieving a satisfaction rate exceeding 90%.
The total number of beneficiaries has increased 48% compared to the previous year. Studies and monitoring reports prepared by Dulani Business Center validate the effectiveness and impact of specialized developmental interventions. These developmental interventions encompass various areas, including financing preparation programs, as well as specialized programs in sectors like e-games, e-commerce, franchising, and so forth.
Eng. Mr. Ibrahim Al-Rashid, CEO of SDB, said: “Winning the award was the result of the emphasis on national entrepreneurship and the necessity to effectively support it. Dulani Business Center serves this purpose through high-quality developmental interventions, which involve nurturing small enterprises, exploring opportunities in established sectors, accelerating the growth of promising industries, and providing a diverse range of experiences. Our team comprises specialists from various industries who contribute to the success of both male and female entrepreneurs. This award serves as a testament to the efficiency of our operations and their alignment with international best practices in the entrepreneurial industry, empowering entrepreneurs to thrive.”
The center is recognized as one of the pioneering government empowerment programs designed to assist the community in initiating their own projects and fostering their success and growth across all regions of the Kingdom. It offers a range of services, including online resources, programs, and in-person advisory sessions at the center’s headquarters. These comprehensive offerings aim to create a positive impact by generating more job opportunities and enhancing the contribution of small and emerging projects to the Kingdom’s GDP.
India has managed to steer the G-20 in a way that establishes New Delhi’s credentials as a platform where even bitter rivals can participate. Within the SCO, India is resisting efforts to get the organisation to take sides in the ongoing Cold War 2.0., writes Prof. Madhav Das Nalapat
When India took over the year-long rotating Presidency of the G-20 last November from Indonesia, the global faultlines typified in the Russia-Ukraine conflict since 24 February 2022 were visibly expanding. Given that the G-20 included both sides involved in the conflict, the Sino-Russian alliance as well as the G-7, it was apparent that tensions within the larger group would escalate as 2023 progressed. Rather than follow the conventional route and give the rotating presidency little domestic importance and despite the challenges that would come up during that period, Prime Minister Narendra Modi took the decision to showcase India’s presidency to the people of India.
In that way, two messages were conveyed, the first being that India was clearly at the Top Table so far as the international order was concerned. Till recently, it had been the UN Security Council that had been considered as the world order’s apex body, but the reluctance of the PRC to admit as a Permanent UNSC Member the world’s most populous country (and what will soon be its third largest economy) has ensured that the premium that the UNSC once enjoyed in the public mind had dimmed into insignificance.
Students from G-20 countries take part in a peace march from Rajghat to Red Fort, in New Delhi (Photo IANS Anupam Gautam)
The permanent veto-wielding membership of just 5 countries in the UNSC now functions as a divided house. While there were illusions about getting China to join hands with the G-7 where pressure on Russia was concerned were high among its members throughout the past year, such optimism has been shown to be unrealistic.
CCP General Secretary Xi Jinping seeks to substantially expand the SCO and BRICS so as to include not just anti-western countries but countries that are veering away from support to the US and its allies, such as seems the situation with Saudi Arabia. The purpose is to create not just an alternative but an opposition to what the CCP considers a western-dominated global order. When Xi talks of multipolarity, what he means in practice is the replacement of the fading unipolarity of the US with that of China. Similarly, to Xi, a BRICS currency swap agreement means not the use of the South African rand, the Brazilian real and the Indian rupee, but the replacement of the US dollar with the RMB in intra-bloc trade.
Through the prominence given in 2023 to the G-20 within India,the other lesson that the Prime Minister intended to convey to the 1.4 billion people of the country was that international peace, stability and progress were not possible in the absence of coordinated efforts at protecting them. And that in the task of ensuring the three objectives of stability, peace and progress, India has a keystone role.
Across India, the holding of G-20 events and the dissemination of information about the group has better opened the gaze of people in India to the world, and so far as the G-20 is concerned, opened multiple corners of India to what is arguably the most consequential multilateral organisation at present. Under the Modi Presidency, the orbit of the G-20 has been lifted to a much higher trajectory in terms of global significance than was the case earlier. When President Lulaof Brazil takes over the rotating presidency from Prime Minister Modi later this year, it will be a G-20 on a much higher trajectory than was the case just a year earlier.
It is certain that Brazil will emerge as a worthy successor to India, so that the higher trajectory gets maintained during its presidency and hopefully afterwards. Assisted by External Affairs Minister Subrahmanyam Jaishankar, Prime Minister Modi is successfully navigating through the rocky shoals and choppy waters of changing international relationships, including those that have been exacerbated by the Russia-Ukraine war.
New Delhi, July 04 (ANI): Prime Minister Narendra Modi at SCO Summit via video conferencing, in New Delhi on Tuesday. Russian President Vladimir Putin, Iran President Ebrahim Raisi and others also seen. (ANI Photo)
While continuing to be a customer of Russian products such as oil, India has continued on the path of deepening security and defence cooperation with the US, Japan and other like-minded countries. Rather than get lost in a welter of conflicting objectives in the way that NATO has done since almost the start of the 21st century, India has remained focused on its key priorities, which include the Global South, food security and the defence of the Indo-Pacific against expansionist powers seeking to wrest land, air and sea space from other countries.
In the task of expansion of space at the expense of other countries, apart from the US itself, the biggest challenge CCP General Secretary Xi Jinping is facing is from India. In Galwan in early 2020, the Indian Army showed that man-to-man, its soldiers are more than a match for their PLA counterparts. India has an inexhaustible reservoir of young people, of whom potentially tens of millions can be trained to deploy as a deadly force in situations of kinetic combat.
Prime Minister Modi through Defence Minister Rajnath Singh, is ensuring just such an expansion of speedily deployable additional man (and woman) power in the uniformed services, including through the Agnipath program. This is in the process of being tweaked so as to make it better able to fulfill the objectives for which it was set up. As have the newly created tri-service theatre commands, another long needed innovation. The Indian armed forces are well on the way to becoming the most capable in the world, including in the essential task of helping protect the Indo-Pacific against predatory powers.
In a way that countries across both sides of the Atlantic failed to do during the 1930s, making a kinetic global conflagration inevitable, the process of building up a coalition capable of deterring the country that is the world’s biggest security challenge in the 21st century needs to succeed. That progress is being made in such a task is clear from the reinvigoration of the Quad by Shinzo Abe and Narendra Modi in 2017, and in the deepening collaboration kinetic and otherwise between like-minded Indo-Pacific countries threatened by expansionist powers, such as India with Vietnam, the Philippines and Indonesia.
India took over the G-20 and SCO in a year that has been unusually problematic in many ways, and yet has managed to steer the G-20 in a way that establishes New Delhi’s credentials as a platform where even bitter rivals can participate. Within the BRICS, India is resisting efforts to get the organisation to take sides in the ongoing Cold War 2.0 that is taking place, a task in which it is being joined by Brazil and South Africa, neither of which wants the BRICS to become an entity controlled by a bloc that is opposed to another bloc. As for SCO, mindless expansion would destroy its coherence, and needs to be avoided despite pressure from one of its members. Choppy waters, rough seas. Piloting safely in such geopolitical seas is being carried out with energy and efficiency during this particularly turbulent year by the current 2023 Chair of G-20 and SCO, India.
For his part, Marcos said in a speech that he discussed with the EU chief “economic relations with particular focus on revitalising trade” between the two regions…reports Asian Lite News
The Philippines and the European Union (EU) on Monday agreed to revitalise trade and relaunch free trade agreements (FTA) talks.
The two sides forged the new cooperation during a meeting between Philippine President Ferdinand Marcos Jr. and EU Commission President Ursula von der Leyen in Manila.
As the first-ever EU Commission president to visit the Southeast Asian country in nearly six decades, von der Leyen said her visit signals accelerating “a new era of cooperation” between the EU and the Philippines, vowing to bring the bilateral trade relations “to the next level”.
For his part, Marcos said in a speech that he discussed with the EU chief “economic relations with particular focus on revitalising trade” between the two regions.
Marcos welcomed resuming negotiations for Philippine-EU free trade, adding that his administration would work with the bloc’s experts to achieve the bilateral FTA, the first round of which took place in 2016 in the Philippines.
Marcos also thanked the EU’s long-term support for his country, particularly on the EU’s recognition of a seafarer certificate issued by the Philippines that will benefit over 50,000 Filipino seafarers working onboard EU-flagged vessels.
The Kremlin’s reaction comes as Russia wrapped up the second Russia-Africa summit in Saint Petersburg last week which was attended by representatives of 49 countries, including 17 heads of state…reports Asian Lite News
A day after videos showing protesters in Niger chanting pro-Russia and anti-France slogans went viral on social media, Moscow on Monday reacted cautiously saying that it remains seriously concerned about the situation in the West African nation and hopes for prompt restoration of the rule of law in the country.
Niger President Mohamed Bazoum was ousted in a military coup led by General Abdourahamane Tchiani, the commander of the country’s presidential guard, on July 26 in fresh trouble for the terror-infested Sahel region. The activities of state institutions have been suspended, borders have been closed, and a curfew has been introduced throughout the country.
“We are monitoring it the situation in Niger very closely, especially in the context of the fact that over the past week we have actually been very closely involved in African affairs together with the Africans. Of course, what is happening there is of serious concern,” Russian President Vladimir Putin’s Press Secretary Dmitry Peskov told local media on Monday.
The Kremlin’s reaction comes as Russia wrapped up the second Russia-Africa summit in Saint Petersburg last week which was attended by representatives of 49 countries, including 17 heads of state.
“We are in favour of the prompt restoration of the rule of law in the country. We are in favour of restraint on all sides, which would help avoid casualties. Of course, we want Niger to restore constitutional order as soon as possible and to continue to work for coping with the enormous tasks that face that country on the way of its development,” added Peskov.
On Sunday, thousands of protestors gathered outside the French embassy in the country’s capital Niamey, waving Russian flags and chanting slogans against the French who ruled the landlocked country until 1960 and still retain a significant influence through numerous agreements.
Interestingly, the Yevgeny Prigozhin-led Wagner group, which continues to increase its influence in the region, including in the Central African Republic (CAR) and neighbouring Mali, has hailed Niger’s military coup.
Peskov, however, made it clear that the Kremlin’s assessment of the situation in Niger and Prigozhin’s words about what is happening in that country should not be put in the same semantic row.
Meanwhile, France has called for an end to the “unacceptable violence” observed on Sunday, stating that the security of its diplomatic premises in Niamey lies with the host State with the Nigerien forces having an obligation to ensure the security under the Vienna Conventions.
Paris said that democratically-elected by the people of Niger, Mohamed Bazoum is the only President of Niger and France does not recognize the authorities resulting from the putsch led by General Tchiani.
With Niger holding large reserves of uranium, as many as 30 French companies are active in the country covering all economic sectors, particularly in services, distribution and in the mining sector.
Niger mainly imports from France electrical equipment, computers and equipment and pharmaceutical products. In return, the first three Nigerien products exported to France are: non-ferrous metals, metal ores and various chemical products.
The inspection tour by the Chinese President was made ahead of China’s Army Day which falls on August 1…reports Asian Lite News
Chinese President Xi Jinping has stressed the need to speed up efforts to boost the modernization of the armed forces, Xinhua News Agency reported.
Xinhua is China’s official state news agency. Xi, who is also the general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission (CMC), made the remarks on Wednesday in southwest China’s Sichuan Province while inspecting the air force of the Western Theater Command of the People’s Liberation Army (PLA).
The inspection tour by the Chinese President was made ahead of China’s Army Day which falls on August 1.
Xi on behalf of the CPC Central Committee and the CMC, extended sincere greetings to all the officers and soldiers of the air force of the command, as well as festival greetings to service personnel of the PLA and the People’s Armed Police Force, civilian personnel posted in the military, and members of militia and reserve forces, according to Xinhua News Agency.
He said it is imperative to remain committed to accomplishing the various tasks entrusted by the Party and the people.
Xi stressed the need to enhance military preparedness and ensure airspace security by thoroughly carrying out regular air defence. He demanded an accelerated pace of pushing new equipment and forces to form combat forces. The new equipment and forces should be integrated into the current combat systems, he added.
The Chinese president called for continuous efforts to carry out training under real combat conditions.
The Party must maintain leadership over the armed forces in ideological, political, and organisational terms, Xi stressed.
Xi ordered strict steps to improve Party conduct and enforce Party discipline, and concrete efforts to carry out the education campaign among the armed forces to break new ground for its development, as per Xinhua News Agency. (ANI)
Bhatt said, approval has been given, since March 2023 for the induction of women officers into Artillery units as well as Remount and Veterinary Corps…reports Asian Lite News
‘Yes, Sir’, the government has a plan to increase the number of women in the Indian Army, Minister of State for Defence Ajay Bhatt informed the Rajya Sabha on Monday while responding to a query of a member.
Informing about the major initiatives, the Minister said 20 vacancies for Women Army cadets per year have been allotted in National Defence Academy, Pune with effect from July 2022. He said that Short Service Commission has 90 vacancies for women including 10 additional vacancies increased with effect from June 2023.
However, Bhatt said, approval has been given, since March 2023 for the induction of women officers into Artillery units as well as Remount and Veterinary Corps.
He said the entry of women officers as pilots in Army Aviation commenced with effect from June 2021, and the enrolment of women in other ranks in the Corps of Military Police in the Indian Army commenced in 2019.
As per the Minister, the total number of women in Indian Army medical cadres, as on July 1, 2023, is 1,212 in Army Medical Corps (AMC); 168 in Army Dental Corps (ADC); 3,841 in Military Nursing Service (MNS).
He also added that the total number of women officers in the Indian Army (excluding AMC, ADC and MNS) as on January 1, 2023 is 1,733.
Bhatt was responding to the query of CPI MP Sandosh Kumar P when he asked about the number of women in Indian Army medical and non-medical cadres; and the government’s plan to increase the number of women in the Indian Army. (ANI)
The Naval Chief had arrived in Muscat on Sunday and was welcomed by Rear Admiral Saif bin Nassir bin Mohsin Al-Rahbi…reports Asian Lite News
Indian Navy Chief Admiral R Hari Kumar is on a three-day visit to Oman with the aim of consolidating existing bilateral defence relations and high-level discussions with military leadership of Oman.
During his visit, the Chief of Naval Staff will call on Gen Sultan bin Mohammed Al-Nu’amani, Minister of Royal Office. He will hold bilateral discussions with his Oman counterpart Rear Admiral Saif bin Nasser bin Mohsen Al-Rahbi, Commander of the Royal Navy of Oman (RNO) and with Major General Matar bin Salim bin Rashid Al Balushi, Commander of the Royal Army of Oman, Ministry of Defence said in the press release. He will also be visiting key defence and training installations in Oman.
“Indian Navy and Royal Navy of Oman engage with each other under numerous Foreign Cooperation avenues, which include operations, training and exchange of Subject Matter Experts in various fields,” the Ministry of Defence said in the press release.
The Naval Chief had arrived in Muscat on Sunday and was welcomed by Rear Admiral Saif bin Nassir bin Mohsin Al-Rahbi, Commander, Royal Navy of Oman and India’s Ambassador to Oman Amit Narang.
Coinciding with a visit to the Chief of Naval Staff, the indigenous guided missile destroyer INS Vishakhapatnam arrived at Port Sultan Qaboos in Muscat. Various naval cooperation events with Oman Royal Navy are planned with Maritime Partnership Exercise culminating on August 3.
Indian Navy spokesperson tweeted, “Adm R Hari Kumar #CNS, is on a 3-day official visit to Oman On arrival in Muscat on #30Jul 23, he was welcomed at the airport by RAdm Saif bin Nassir bin Mohsin Al-Rahbi, Commander Royal Navy of Oman & H.E. @Amit_Narang, Ambassador of India to the Sultanate of Oman @Indemb_Muscat.”
In another tweet, it said, “During the visit, the CNS is scheduled to meet the military leadership & interact with institutions of higher defence studies. He would also review bilateral defence cooperation matters with his counterparts in Oman.”
The indigenously built destroyer INS Visakhapatnam entered Oman on Sunday to enhance the maritime partnership between Indian Navy and Royal Oman Navy, informed Indian Navy officials. The Indian Navy and Royal Oman Navy are working together to address security challenges in the region and the warship is part of the Western Naval Command Fleet, the officials added.
Earlier in June, National Security Advisor Ajit Doval, who paid an official visit to Oman called on Oman’s Sultan and Prime Minister Sultan Haitham bin Tarik. NSA Doval also delivered a personal message of greetings from Prime Minister Narendra Modi, the Ministry of External Affairs (MEA) said in a statement.
NSA Doval also held discussions with General Sultan bin Mohammed Al Nomani, Minister of the Royal Office and Oman’s Foreign Minister Sayyid Badr bin Hamad Al Busaidi.
“The discussions enabled a high level review of the multifaceted bilateral relations between India and the Sultanate of Oman with focus on strengthening mutually beneficial cooperation in key areas for economic & technological development, mutual security and regional stability,” the Ministry of External Affairs (MEA) said in a statement.
NSA Doval’s visit to Oman demonstrates the strong bilateral relationship between the two nations and the importance of Oman as a key partner for India in the Gulf. NSA Doval’s visit highlights India’s commitment to strengthening its strategic partnership with Oman.
The 13th edition of the bilateral naval exercise Naseem Al Bahr was conducted in Oman in 2022 and the next edition is scheduled in 2024, according to a statement.
The navies of India and Oman also engage extensively under the aegis of various multilateral constructs such as Indian Ocean Naval Symposium (IONS). The ties between Indian Navy and Royal Navy of Oman is in consonance with the Government of India’s vision of ‘Security and Growth for All in the Region’ (SAGAR). (ANI)
The main roadblock to adopting the convention proposed by India in 1996 is the dispute over the definition of terrorists…writes Arul Louis
A UN counter-terrorism official has decried the failure of the General Assembly to agree on a global agreement to fight terrorism proposed by India.
Raffi Gregorian, the Director of the UN Office of Counter-Terrorism (UNOCT), told the Security Council on Monday, “Unfortunately, there has not yet been consensus at the General Assembly on the draft Comprehensive Convention on International Terrorism, including in relation to how the definition of terrorism would precisely apply in situations of armed conflict.”
Neither does the Assembly give the UNOCT “the mandate to investigate or ascertain the conduct of states and other actors, nor to determine what constitutes an act of terrorism, whether by a state, a group or an individual,” he added.
This despite the Assembly setting up the UNOCT “with the clear intention of helping member states implement General Assembly and Security Council resolutions related to the fight against terrorism,” he said.
The main roadblock to adopting the convention proposed by India in 1996 is the dispute over the definition of terrorists, with some countries claiming that their favoured terrorists are “freedom fighters”.
Speaking at a Council meeting convened at the request of Russia on threats to international peace and security, Gregorian pointed out these two barriers to the UN effectively dealing with terrorism.
“For these reasons, I regret that I have nothing else to contribute to the substance of today’s discussion,” he said.
However, while criticising the Assembly and praising the Council’s “admirable record”, Gregorian was silent on the Council’s failure to act against some terrorists because of China’s opposition.
In the latest case of Beijing providing cover for Pakistan-based terrorists, China blocked in June designating Lashkar-e-Taiba commander Sajid Mir as an international terrorist.
Mir was one of the leaders behind the 26/11 attack on Mumbai launched from Pakistan in 2008.
On the other hand, Gregorian claimed that the “Council has had a long and admirable record of consensus when it comes to the issue of terrorism”.
To back his assertion, he referred to the Council resolutions on al-Qaeda and the Islamic State terror organisation also known as Da’esh, and the setting up of the Counter-Terrorism Committee.
In June, the Assembly urged its 193 members in a resolution “to make every effort to conclude a comprehensive convention on international terrorism”.
However, there has been no fresh effort toward adopting the agreement.
The Council meeting generally focused on the Ukraine war, with only mentions of the global terrorism menace by representatives of countries like Ghana and Mozambique.
Russia’s Deputy Permanent Representative Dmitry Polyanskiy said that Moscow asked for the Council meeting to discuss “the terrorist essence of the Ukraine regime”.
He asserted that Ukraine bombing the bridge connecting Crimea with the Russian mainland and using the Crimean people as “hostages” for negotiations amounted to terrorism.
Only China backed Russia, while most members of the Council heavily criticised Moscow’s invasion of Ukraine.
US Deputy Political Counsellor, Trina Saha, said that Moscow asking for the meeting was an effort “to divert the council’s attention from the core issues at hand or a transparent ploy to distract from its own aggression”.
“Russia’s complaints about the impacts of a war it began should remind us all of a simple truth,” she said.
“This war would end today if Russia withdrew its forces from Ukraine’s sovereign territory and abandoned its relentless, brutal attacks against Ukraine cities and civilian infrastructure,” she added.
Britain’s Political Coordinator Fergus Eckersley said that it was Russia that “is inflicting terror on the Ukrainian people, and in parallel, it is inflicting suffering on its own population, and millions across the world”.
Addressing the event, NITI Aayog Vice-Chairman Suman Bery said the goal of achieving green transition goes hand-in-hand with the larger goal of becoming a developed nation by 2047…reports Asian Lite News
A two-day G20 policy workshop on the Green and Sustainable Growth Agenda for the Global Economy concluded in New Delhi yesterday. The workshop organised by NITI Aayog discussed the prospects and challenges of green and sustainable growth globally. It was designated as a side event of G20 that covered various themes related to green growth, energy, climate, and others. More than 40 global experts from diverse fields attended the two-day policy workshop.
Addressing the event, NITI Aayog Vice-Chairman Suman Bery said the goal of achieving green transition goes hand-in-hand with the larger goal of becoming a developed nation by 2047. He added that the discussions during this policy workshop have generated several important suggestions for green and sustainable growth which NITI Aayog will pursue through various fora.
On the sidelines of the G20 workshop, the G20 Sherpa Amitabh Kant observed that achieving the Sustainable Development Goals and climate action needs an investment of about five to six trillion dollars which in turn will create business opportunities of about 90 trillion dollars. Talking about the Prime Minister’s vision of achieving the Net Zero target by 2070, he observed that India will play a key role in green growth and sustainable development.
#G20 policy workshop on Green and Sustainable Growth Agenda for Global Economy concluded in New Delhi. @g20org#G20India
The workshop organised by @NITIAayog discussed the prospects and challenges of green and sustainable growth globally. More than 40 global experts from… pic.twitter.com/fkua5bFOPI
— All India Radio News (@airnewsalerts) July 30, 2023
Emphasising the role of NITI Aayog in enabling the green transition, CEO, NITI Aayog B.V.R. Subrahmanyam stated that NITI has a fundamental role in creating ecosystems that facilitate the adoption of frontier technologies.
The Startup Bridge will enable seamless exchange of knowledge, technology and best practices between the startup ecosystems of India and Bangladesh…reports Asian Lite News
In a firm expression of their commitment to strengthening collaboration in the startup sector, India and Bangladesh have launched the ‘India-Bangladesh Startup Bridge’ to facilitate the exchange of knowledge and technology.
The portal was launched by Bangladeshi Prime Minister Sheikh Hasina on July 29, 2023 in the presence of 10 Indian Startups visiting Bangladesh to take part in the Bangladesh Startup Summit in Dhaka
The Startup Bridge will enable seamless exchange of knowledge, technology and best practices between the startup ecosystems of India and Bangladesh and serve as a one-stop platform for accessing information for entrepreneurs and other stakeholders from both countries, the Indian High Commission in Dhaka said.
The India-Bangladesh digital startup bridge will help by making available comprehensive guides and toolkits to assist startups to evaluate expansion opportunities and technology transfers.
It will also bring together Startups, mentors, investors, incubators, and accelerators in relevant sectors, in addition to enabling investor roundtables, startup exchanges, highlighting of sector specific opportunities, hosting of webinars by domain experts, and building capacities.
The 10 Indian startups taking part in the Bangladesh Startup Summit in Dhaka were from the EdTech, Fintech, Healthcare/MedTech, Manufacturing, Automotive, EV, and HR sectors. The summit hosted by Startup Bangladesh Limited, under the aegis of the Information and Communication Technology Division of the Government of Bangladesh, brought together startups, venture capitalists, angel investors, regulatory bodies, thought leaders and industry experts.
India and Bangladesh have made a strong bilateral commitment under the leadership of Prime Minister Narendra and Prime Minister Sheikh Hasina, to build linkages between the startup ecosystems of both countries and use these exchanges as a medium to create a conducive environment for shared innovation and shared economic growth.
As part of this commitment, the bilateral framework of ‘India-Bangladesh 50 Start-ups Exchange Programme’ was kick-started in May this year, when the first ever cohort of 10 Bangladeshi startup companies completed a successful five-day visit to India from May 8-12, 2023. These startups were from sectors such as e-commerce, health, transport and logistics, energy, education and skill development.
During this visit, they got a unique opportunity to understand the Indian startup ecosystem, meet angel investors, and identify sectors where there may be scope of long-term partnerships. The Startups also got a chance to visit the IIT Delhi incubator, attend master classes, and share market knowledge.
Under this programme, 50 startups from Bangladesh and 50 Start-ups from India will exchange visits to each other’s countries for exploring partnerships, expanding business relations, sharing experience and knowledge and expanding youth and entrepreneurial cooperation.
According to the Indian High Commission in Dhaka, this continuous exchange of startups between the two nations will help leverage opportunities to expand sectors critical for growth such as Fintech, logistics, resource management, health, education, green technologies, and digitization of services.
“The startups of India and Bangladesh are poised to work together closely to increase ease of doing business, accelerate the use of the newly launched INR trade settlement facility, and collaborate to build digital platforms for conducting business and financial transactions,” the Indian High Commission noted. (India News Network)
