New Delhi, Apr 12 (KNN) Japan has put forth a proposal to establish an industrial hub in Bangladesh, equipped with supply chains that connect to India's north-eastern states as well as Nepal and Bhutan through the development of a nearby port and transportation infrastructure, officials said on Tuesday.

This development comes after Japanese Prime Minister Fumio Kishida's recent visit to India. 

The idea was recommended by PM Kishida to build a new industrial hub for the Bay of Bengal and northeast India that will help develop the region.

As per reports, after the Japanese PM’s visit, his government has approved USD 1.27 billion in funding to Bangladesh for three infrastructure projects - including a new commercial port in the Matarbari area with links to adjacent landlocked Indian states, including Tripura, and wider international markets.

"It can be a win-win plan for India and Bangladesh," Hiroshi Suzuki, Japan's ambassador to India, said on Tuesday, citing the industrial hub proposal at a meeting of Indian, Bangladeshi and Japanese officials in Agartala, the Tripura state capital.

He said the deep seaport was likely to become operational by 2027 and would be a key to building an industrial hub connecting Dhaka to North-eastern areas of India.

G Kishan Reddy, Union Minister for its northeast region welcomed the Japanese initiative at the meeting. 

Bangladeshi minister of state for foreign affairs Shahriar Alam said it would boost Indian-Bangladeshi trade and help bring in Japanese and other foreign investment.  (KNN Bureau)