But he did not specify when the money would flow into Bangladesh.
The Indian minister, who is on a two-day visit, was briefing reporters after a meeting with his counterpart Faruk Khan at the secretariat in the capital.
Faruk told reporters that India has agreed to increase the quota of duty-free import of ready-made garment products from Bangladesh to 10 million pieces from eight million pieces under the South Asia Free Trade Agreement (SAFTA).
Faruk also said Bangladesh in the last three months has exported to India RMG products worth $3.47 million, or 47 percent of the quota of eight million pieces for the current year.
India will consider supplying Bangladesh with cotton under a special quota, Faruk said.
The Indian High Commission in Dhaka in a statement said trade between the two neighboring nations has increased significantly.
Bangladesh's export to India has increased six times in the last few years. It stood at $359 million in the first three quarters of the current fiscal year. Bangladesh's total export to India was $304 million in the last fiscal year.
News Source: The Daily Star, Sun, 24/04/2011
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