India and Bangladesh have taken significant steps to enhance their defense relationship by signing agreements aimed at expanding cooperation in various sectors. The agreements, which cover maritime security, ocean economy, space, and telecommunication, were signed during the visit of Bangladesh Prime Minister to India.
India, under Prime Minister Narendra Modi, is positioning itself as a regional power and a counterweight to China. The agreements signed reflect New Delhi's efforts to strengthen ties with its neighbors and promote regional cooperation.
Prime Minister Modi welcomed Bangladesh's decision to join the Indo-Pacific Oceans Initiative, an initiative aimed at fostering regional cooperation among maritime neighbors. The agreements signed are part of India's 'neighborhood-first' approach, emphasizing the importance of strong ties with neighboring countries.
While Bangladesh maintains good relations with China, its major trade partner, the country also values its diplomatic and trade relationships with India and the United States. Bangladesh's garment industry, a significant source of foreign currency, relies heavily on China for raw materials.
During the visit, the two countries agreed to enhance cooperation in various areas, including the sharing of river waters and collaboration in the power and energy sectors. Bangladesh invited Indian industry leaders to invest in the country, particularly in developing ports, waterways, rail, and road connectivity.
India has provided significant financial assistance to Bangladesh, including a loan of $8 billion over the past eight years to support infrastructure development. Trade between the two countries has been growing, with India being Bangladesh's largest export destination in Asia.
Despite the progress in bilateral relations, challenges remain, such as the unresolved issue of sharing the waters of the River Teesta and concerns about illegal immigration from Bangladesh to India. Both countries continue to work towards addressing these issues to further strengthen their ties.
Overall, the agreements signed between India and Bangladesh signal a deepening of their defense relationship and a commitment to enhancing cooperation in various strategic sectors, reflecting the shared interests and priorities of the two nations.
