As the 29th Dhaka International Trade Fair kickstarted in 2025, Chief Adviser Prof Muhammad Yunus emphasized the need for stronger exports by investing in the services sector. He urged the business community to explore opportunities beyond products and enhance Bangladesh's export base. In addition, the CA proposed introducing an "Entrepreneur of the Year" initiative to recognize and promote the individuals behind the country's products, along with the traditional "Product of the Year" model. The government's efforts to showcase Bangladesh's diverse products in the global market were also highlighted.
Bangladesh Banks on Services Sector to Boost Exports
Background
Bangladesh has traditionally relied on the export of goods, such as textiles and apparel, to drive its economic growth. However, in recent years, the government has recognized the need to diversify the country's export base and explore opportunities in the services sector.
2025 Dhaka International Trade Fair
During the 29th Dhaka International Trade Fair held in 2025, Chief Adviser Prof Muhammad Yunus emphasized the importance of investing in the services sector to boost exports. He urged businesses to go beyond traditional product offerings and enhance Bangladesh's export capabilities.
Entrepreneur of the Year Initiative
To support the development of the services sector, the government proposed introducing an "Entrepreneur of the Year" initiative. This initiative would recognize and promote the individuals behind the country's successful products and services, complementing the existing "Product of the Year" model.
Government's Role
The government highlighted its efforts to showcase Bangladesh's diverse products in the global market. This includes participating in international trade fairs, organizing trade missions, and providing incentives to exporters.
FAQs
1. What is the significance of the services sector in Bangladesh's economy?
The services sector plays a crucial role in Bangladesh's economic growth, contributing to over 50% of GDP. It includes industries such as tourism, hospitality, banking, and technology.
2. Why is the government emphasizing investment in the services sector?
By investing in the services sector, Bangladesh can reduce its reliance on exports of goods and diversify its economy. This will make the country less vulnerable to global market fluctuations.
3. How will the "Entrepreneur of the Year" initiative boost the services sector?
The initiative will recognize and reward individuals who have made significant contributions to the development of the services sector. This recognition will encourage innovation and entrepreneurship, driving the sector's growth.
4. What are the government's initiatives to promote Bangladesh's products globally?
The government participates in international trade fairs, organizes trade missions, and provides financial incentives to exporters to promote Bangladesh's products in global markets.
5. What are some of the challenges facing the services sector in Bangladesh?
Challenges include a lack of skilled labor, inadequate infrastructure, and limited access to technology. The government is addressing these challenges through various initiatives, such as vocational training programs and digitalization efforts.
A recent report reveals that Fox News could potentially face legal repercussions for its privacy practices, specifically for the California Consumer Privacy Act (CCPA). The law states that companies must disclose how they collect and use consumer data. This development could have significant implications for the news network and its viewers.
In a pioneering move, the Trilokeswar Farmer Producer Company (FPC) and the Department of Horticulture have successfully exported 12 tons of G9 bananas from Kalampur, Kalahandi to Dubai, marking the district's first international banana shipment. Led by farmers Smruti Ranjan Mund, Nilamani Lahajal, and Narayan Sahu, the project aims to enhance the state's agricultural and economic growth. The G9 variety, known for its high yield, nutrition value, and resistance to diseases, is set to make waves in the international market, offering a sweet and healthy treat to consumers.
At the Startup Maha Kumbh, Union Commerce Minister Piyush Goyal expressed disappointment with India's startup ecosystem for prioritizing food delivery, betting, and fantasy sports apps. He urged Indian startups to follow the lead of Chinese startups, which are excelling in areas such as electric vehicles, battery technology, semiconductors, and artificial intelligence. Goyal questioned whether India should settle for low-wage gig jobs or strive for technological progress. Despite having over 100 unicorns, India's third-largest startup hub, Goyal's remarks raise concerns about the country's focus on certain industries and its potential for innovation and development in other areas.
Union Commerce Minister Piyush Goyal's criticism of India's startup ecosystem has faced resistance from industry leaders, who argue for the importance of government support in fostering local champions in the technology sector. Zepto CEO Aadit Palicha and former Infosys executive Mohandas Pai were among those who pushed back against Goyal's assertions at the Startup Maha Kumbh event, emphasizing the need for long-term growth and support for startups rather than just quick exits. Business leaders push back against Union Commerce Minister Piyush Goyal's criticism of India's startup ecosystem at the Startup Maha Kumbh event. They argue for the importance of fostering local champions in the technology sector and urge for government support to help achieve this goal. Goyal had questioned whether the country's startups were truly driving progress, citing a heavy focus on food delivery and low-wage gig jobs.
Jhankar Mahila Mandal and Gamini Driving School celebrated the successful completion of their E-Rickshaw training program, aiming to empower women from marginalized communities. The event, attended by esteemed guests and held under the guidance of Smt Abha Dwivedi, provided not just driving skills but also self-defense, financial planning, and computer and communication skills. This initiative not only bridges gender gaps but also opens up employment opportunities, reinforcing the commitment of the organizers to continue empowering women through driving education.
The US-India trade war has taken a toll on Indian stock markets as they continue to decline. President Trump's 27% tariff on Indian imports, although lower than tariffs on other Asian countries, has caused major dips in the BSE Sensex and Nifty. The impact of this trade war has also been felt in Asian markets, with Nikkei 225 and Kospi experiencing drops in the aftermath of Wall Street's shock. Stay updated on the latest developments in this trade dispute by following Screen Digital on YouTube.
The three-day Startup Mahakumbh, inaugurated by Commerce and Industry Minister Piyush Goyal, is set to bring together 3,000 startups, over 1,000 investors, and 10,000 delegates from 50 countries. With a focus on fostering collaboration and innovation, this event will lay the groundwork for the future success of entrepreneurs. The second edition, set to take place in 2025, will feature participation from tribal entrepreneurs and showcase the growth of the Indian startup ecosystem.
In a surprise move, billionaire entrepreneur Elon Musk's artificial intelligence company xAI has acquired the popular social media platform, X, in a multi-billion dollar deal. With X's massive reach and data spanning two decades, xAI's advanced AI capabilities are set to get a big boost. However, the acquisition raises concerns about potential layoffs and the company's lack of accountability as a private entity. Only time will tell how this strategic move will impact the future of both xAI and X.
President Trump announced new tariffs on major trading partners, including India and China, during a speech at the White House on April 2. These "reciprocal tariffs" match the duties these countries have imposed on US goods, with India set to face a 26% tariff and China set at 34%. The tariffs will go into effect on April 9 at 12:01 am local time, sparking concerns for industries such as automobiles, with companies like Volkswagen already taking action to mitigate the impact.
Enter this month's competition for a chance to win one of two fantastic Motorola Edge 50 Pro handsets worth £600 each. With its sleek design, impressive camera system and fast charging capabilities, this phone is not to be missed. Plus, each winner will receive a limited-edition F1 engraved case to complete the package. All you have to do is answer a simple question on motorola.co.uk.