German carmakers are seeing the future in a rosier light than last month, a leading economic institute says. Positive developments regarding exports to the US and China are a major factor driving the increased optimism. The German car industry, one of the main drivers of the country's economy, is looking to the future with more confidence than it has in recent times, according to the Munich-based Ifo Institute for Economic Research. In March, the business climate index in the sector climbed from a low of -9.9 points in February to reach -5.8 points. Improved future expectations on the part of car manufacturers were largely responsible for the rise, with the index going up from -29.5 points to -18.7 points. The German automobile industry seems now "to have finally left the economic low point in the second half of 2023 and is looking into the future with regained confidence," said Ifo research Anita Wölfl. Export hopes driving optimism Export prospects showed particularly positive growth, with a jump of 23.7 points to reach 13.8 points — the highest level since April 2023. One reason for the increased optimism seems to be positive developments in the US and China, Germany's two main export markets. In addition, only a few manufacturers reported supply chain problems. The positive outlook among the key German auto industry may prove a boon for the rest of the German economy that has been forecast to see only low growth forecasts in 2024. Carmakers' assessment of the current situation, however, showed a slight dip, falling from 11.9 to 8.1 points.

High Commissioner Pranay Verma and Principal Staff Officer of Bangladesh Armed Forces Division, Lt. Gen. Shameem addressed the Seminar on Indian Defence Equipment - SIDE 2024 - hosted by the High Commission of India in Dhaka on 20 February 2024.  High Commissioner highlighted the advances made by the Indian defence industry over the last decade driven by Prime Minister Modi’s vision of “Make in India” and “Make for the World”, which has spurred unprecedented investments into the Indian defence manufacturing sector and has led to rising Indian defence exports. He described SIDE 2024 as a reflection of Indian defence industry’s interest in partnering with Bangladesh and to taking India-Bangladesh defence cooperation forward to the next level, including by utilizing the Defence Line of Credit of US$500 million extended by Government of India to Government of Bangladesh. He also noted that India is willing to share with Bangladesh wide-spectrum capabilities in defence manufacturing, including the most sophisticated technologies. He also proposed graduating the bilateral defence cooperation to the next level by building joint ventures in defence manufacturing.   A number of premier defence manufacturing companies of India, from both public and private sectors, participated in the event and made presentations showcasing a range of ‘Made in India’  defence equipment, technology and platforms. The seminar  was attended by representatives from Bangladesh Armed Forces as well as paramilitary and police forces.

Pakistan’s recent restrictions on the transfer of goods have raised concerns among Afghan traders and freight forwarders in China. These restrictions have led to a substantial trade challenge, with 8,700 containers carrying commercial goods coming to a halt at the Karachi port. According to these businessmen, Pakistan imposes a fine of $200 for each container, resulting in significant financial losses for them. “If the containers are not allowed, we have no choice; we either go to the United Nations or the European Union to solve the issue,” Khan Agha Gulzad, head of the Afghan Merchants Union in China, said. Meanwhile, Afghan traders have called upon the Taliban administration to address the issue diplomatically. “We respectfully request the current administration of Afghanistan to resolve the issue via diplomatic and understanding means. [If it doesn’t happen] this is a very economic blow to Afghanistan’s national businessmen and people,” Zabihullah, a member of the Afghan Merchants Union in China, said. Furthermore, officials representing the Afghanistan-Pakistan joint chamber have expressed concern over imposing restrictions and creating barriers to transit goods. They argue that such actions counter established principles and commercial laws, emphasizing that such practices should be avoided to maintain smooth trade relations between the two countries. Concurrently, the Ministry of Industry and Commerce (MoIC) has proactively addressed the challenges posed by goods in transit with Pakistan. Recognizing the importance of resolving these issues promptly, the MoIC actively works to find solutions. “Unfortunately, what Pakistan is doing is against all international laws. Therefore, we work on alternative ways and reach the goal we have set for ourselves,” Abdulsalam Jawad Akhundzada, a spokesman for MoIC, said. Source: khaama.com

Bangabandhu Sheikh Mujibur Rahman Tunnel under the Karnaphuli River in Chattogram is getting ready for opening to traffic as its 98 percent construction works have been so far completed.   Project Director (PD) Md Harunur Rashid Chowdhury told said, “Now the workers are bustling to give  final touch   as Prime Minister Sheikh Hasina is expected to the tunnel in September.”   He said workers and engineers concerned are working round the clock for opening the mega project to traffic  in  September.   “Already 98 percent of the tunnel work has been completed. The remaining two percent works will be completed soon. However, the project tenure will end on December 30,” he said.   The project director said there is no major work in the tunnel, while both tubes are ready, adding, “If everything goes well, then we can finish the work by August. However, the ministry will decide when it will be inaugurated.”   Earlier, Road Transport and Bridges Minister Obaidul Quader at a function said Prime Minister Sheikh Hasina will open the Bangabandhu Sheikh Mujibur Rahman Tunnel.   According to project details, the tunnel will actually turn Chattogram into "one city with two towns". It is being constructed beneath the Karnaphuli River and it is expected to be opened for vehicular movement in September this year.   The multilane tunnel will directly connect the Chattogram Port with Anwara upazila, which will directly connect Cox's Bazar with Chattogram.   The project details said, two tubes have been constructed within an 11-metre gap so that heavy vehicles can pass through the tunnel easily.   The length of the tunnel is 3.40 kilometres with an approach road of 5.35 kilometres alongside a 740-metre bridge linking the main city, port and the western side of the river with its eastern side.   As part of the project, bridges, totalling 740 metres in length have been built, linking the main port city and western side of Karnaphuli River with the heavily industrializing eastern side of the river and Anwara upazila.   Bangabandhu's daughter Prime Minister Sheikh Hasina inaugurated the boring work of the first tunnel tube on February 24, 2019.   Prime Minister Sheikh Hasina and Chinese President Xi Jinping jointly laid the foundation stone of the Bangabandhu Tunnel on October 14, 2016. China Communications Construction Company Ltd is working as the contractor of the project.   The tunnel will connect the proposed Asian Highway with Dhaka-Chattogram- Cox'sBazar Highway along with reducing the distance by 40 km. Vehicles in this tunnel will run at a speed of 80 km per hour.   Bangabandhu Tunnel is being built at a cost of Taka 10,374 crore. The tunnel project is being implemented with joint funding from the governments of Bangladesh and China. The Exim Bank of China is giving a loan of Taka 5,913 crore at two per cent interest while the Bangladesh government is funding the remaining portion.   Newly elected president of Federation of Bangladesh Chamber of Commerce and Industries and former president of Chattogram Chamber of Commerce and Industries Mahbubul Alam recently told BSS that once the tunnel is opened, it will be a game changer for the southeast region of Bangladesh, presenting a solution to connectivity issues to the rest of the country.

In world, more than half of the 100 green garments factories are now in Bangladesh. After verifying the factories eco-friendly quality for the safe factory and work environment, the US-based organization U.S. Green Building Council (USGBC) provided this certificate. According to this organization, 10 years ago, in Bangladesh, there was only one green factory, now that number has increased to 155. Md. Shahidullah Azim, the vice president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said, "The eight of the top 10 green factories in the world are now in Bangladesh.We develop this what other countries can do in 10 years. We have the capacity to do it in just one year." Mohammad Hatem, the Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said, "Even if all the green factories in the world are combined, half of Bangladesh's factories will not be equal to that. Our third category factories are equal to the first-class factories in China, Vietnam, and Cambodia." He added, "Buyers have no option to think about the alternative.For placing purchase order, Bangladesh is first choice. That is why foreigners are now interested to invest in Bangladesh." Industry entrepreneurs said, "If government policy support continues, by 2030, the garment exports earning will hit $100 billion. From March 11-13, the scheduled three-day business summit organized by FBCCI will also discuss about this matter. Md. Jashim Uddin, the FBCCI President, said, "With a view to achieving the $100 billion land mark, we are arranging the Business Summit. Industry owners think that the business summit will create an opportunity to attract investment in the sector along with the branding of Bangladesh's garments sector.

Bangladesh is naturally beautiful. All elements of Tourist attraction like mountain, sea, river, forest are consists here. 'Sundarbans' the world's largest mangrove forest, Cox's Bazar, the world's longest natural beach fascinates the people around the world with natural beauty. These are the gift by nature. These are the remarkable thing for Bangladesh tourism industry.  But even after 50 years of independence, due to the lack of proper planning, Bangladesh has not been adroit to utilize that potential of it. In this reality, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) to organize a business summit for the first time in the country on the occasion of celebrating 50 years of its establishment.  Country's tourism and its potential will be highlighted through this summit to attract investors from different countries around the world. On March 11-13, the Business Summit will be held at the Bangabandhu International Conference Center.  Delegates from more than 130 countries are take part in this business summit. A session will be held to highlight the potential and investment opportunities of the country's tourism industry. Businessmen related to this assume that this industry will change if the country's tourism potential is properly displayed to the world. Shiblul Azam Koreshi, Tour Operators Association of Bangladesh (TOAB), said, "Promotion is needed to succeed the tourism industry in Bangladesh. We hope, we will portray our brand to the large number of delegates who will come here.  As a result, they will know about our products that are available in our country. Investment is needed to expand our tourism industry. Hopefully, we will get the best result. FBCCI Director Nasir Majumder said, "Business Summit and our Tourism Master Plan have come together. I am very hopeful, if we take our country's services and standards to international level, then we can compete with anyone in the world. But for this, we need some technical and financial support. Hopefully, through this Business Summit, we will achieve something. He said, in country about 1100 tourism spots have been identified. Every spot has to be developed. It requires cost and neither the government nor any individual can do it single handedly. It requires some private investment especially foreign investment. Mr. Majumder believes that Bangladesh will lead the tourism industry if proper planning and investment can be provided.

Indian Institute of Technology Guwahati has completed the transfer of technology (ToT) of a novel free-space optical communication system to the telecom industry. The advanced communication system uses wavefront modulated light beams for wireless error-free data transmission through free space rather than through optical fibre. Prof Bosanta Ranjan Boruah has developed the technology Department of Physics, IIT Guwahati, and Dr Santanu Konwar, Assistant Professor, Department of Physics, Abhayapuri College, Assam. The technology has been granted with US patent 10,673,525 dated June 2, 2020, Japanese patent JP, 6998868 dated Dec 23, 2021, and Korean patent 10-2483858 dated Dec 28, 2022.   Regarding the technology transfer, Prof. Bosanta Ranjan Boruah said, "Free space optical communication is likely to play a crucial role in the coming days both in the case of indoor applications and outdoor especially in the defence sector.We will look forward to meeting the challenges as our technology is adapted to serve society." The research team has experimentally demonstrated the distortion-free transmission of text messages and images in a laboratory environment, even in turbulence and outside the laboratory. The communication system can thus be used for high-speed and secured communication between two remote sites in the line of sight with virtually no possibility of any unauthorised interception. Speaking on occasion, Hardik Soni, CTO and Co-Founder of Nav wireless Technologies Pvt. Ltd., said, "NavTech is the pioneer and leading technology company in India researching Optical Wireless technologies – LiFi | FSO, developing applications, and manufacturing LiFi & FSO products and solutions. We are glad to join hands with one of India's premier technology institutions to develop Optical Wireless technology further." Source:Gplus

Prime Minister Sheikh Hasina said, "Due to the right initiative of the government, country's garment industry is moving forward despite the global crisis. She said this while joining the 'National Textiles Day' celebration virtually from Ganobhaban on Tuesday, February 14.  At that time, the Prime Minister inaugurated 6 six new textile engineering colleges.

Meghalaya aims to boost its tourism industry by establishing it as a regulated sector of the economy. The state government’s Tourism Department is working to create conditions that will attract visitors from around the world to experience the region’s unique culture. To achieve this, the government plans to invest more capital in the industry, strengthen ties to financial institutions, and focus on capacity training for stakeholders. Meghalaya is known for its stunning landscapes and diverse tourism content, and the government anticipates that an increase in the number of tourists, both domestic and international, will visit the state in the near future. The state’s tourist industry is expected to see an increase in visitors, with an estimated 15 lakh tourists expected by 2024, up from 12.7 lakh in 2019. The government is working to improve facilities and infrastructure in a sustainable manner, including initiatives such as ecotourism and promoting locally made products. A study of the tourism industry has identified a lack of accommodations as one of the main issues. In order to attract visitors, the government has organized events such as the Cherry Blossom Festival and the Shillong Literary Festival. The state also recently hosted the Megha Kayak Festival, attracting top kayakers from around the world. The government has also launched a number of programs to improve the tourist industry’s infrastructure and train workers to serve visitors better. If the proper training is provided, the tourism industry may be a significant source of new jobs. The department’s mission training partners include IL&FS Education, B-ABLE, Avenues, ETPL India, IHM & FCI, etc. In the previous several months, about 1410 young people have been taught in these skills by the training partners, and 574 of them have been put in various roles within and outside the state. The education and development of two thousand young people is the objective for the current year. Homestay Scheme was launched to provide opportunity to the skilled citizens to start their own venture by constructing and managing a homestay. The Homestay Scheme was designed with convergence with the PMEGP Program to facilitate construction of 2500 Homestays across the state to give an impetus to the tourism ecosystem of the state. With a subsidy of upto 70%, the scheme will facilitate faster creation of the tourism facilities within the state. Source: The Border Lens

Varanasi, (Uttar Pradesh) [India], December 15 (ANI): The textile industry is committed to achieving the $100 billion export target by 2030. Kashi and Tamil Nadu will play a major role in this, said Union Commerce and Textiles minister Piyush Goyal after his meeting with textile industry leaders in Varanasi. "The textile industry is full of confidence. They are going to achieve the USD 100 bn targets and they are going to become the largest creator of jobs and employment and work opportunities in this country after agriculture," said Piyush Goyal. Union Commerce and Textiles minister Piyush Goyal said that Union Education and Skill Development Minister Dharmendra Pradhan has steered this wonderful one-month program through which we are bringing Tamil Nadu and Kashi culture closer together. "My colleague Union Education and Skill Development Minister Dharmendra Pradhan has steered this wonderful one-month program through which we are bringing Tamil Nadu and Kashi culture closer together. Examples of our tradition, rich culture, history and old tie between Kashi and Tamil Nadu will open up new opportunities and new possibilities," said Goyal. Piyush Goyal said that textile is a sector where margins of 5 per cent are very important to become competitive, adding, "With the Free Trade Agreement (FTA) with countries we are insisting that we get duty-free access for Indian textiles. Both in UAE and Australia textile sector assures me that the possibilities for growth are huge. We are working on FTAs which will all give a boost to the textile sector." Citing an example of the United Kingdom Goyal said that the UK has a 12 per cent import duty and a 9 per cent import duty on different items. "If that goal tells you better but textile is a sector is are very important to become competitive. With Richard's agreement, we are insisting that we get duty-free access to Indian textiles both in UAE and Australia. The textile sector assures me that the possibilities of growth we are working on should all give a boost to the textile sector. The textile sector has a 9 to 12 per cent import duty on different items. If that goes away, suddenly we get a big boost for our textile industry," said Goyal. He said that PM Mitra park is at an advanced stage of evaluating the 18 proposals received it will hopefully be able to finalise them in the near future. "The MITRA park seeks to integrate the textile value chain from spinning, weaving, processing, dyeing, and printing to garment manufacturing," he said. Chairman and Managing Director of Lakshmi Machine Works Sanjay Jayavarthanavelu, said that both Tamil Nadu and Kashi had a very strong textile industry. "India is going to be a very large player in the textile business. Today we are number three number and soon I'm sure we will become number two. Through FTAs I am sure that India will be able to export a lot of great fabric all over the world and I'm sure it's going to flourish in the future," added Sanjay Jayavarthanavelu. "One thing which India lacked was FTAs.and I thank the government for having worked on many FTAs between India and other countries. This gives access to our goods into those countries and concessional duty compared to the other countries as well, this was sure to boost our exports to these companies", he said.  Source: ANI