India and Bangladesh in the new era

With the Fourth Industrial Revolution and climate change hitting in, the world is encountering a major shift, which is likely to affect socio-political and economic norms and practices that the humankind have been accustomed to for a long time. The demand for the shifting time suggests we introspect on the pathways for dealing with the challenges. Since it involves the humankind, wisdom dictates cooperation among the countries is necessary to tackle these issues. India and Bangladesh, the two neighbours in South Asia, could be an example of such cooperation.

India and Bangladesh do not only share a common language, culture and history but they also have similar socio-economic structure. Significantly, the two countries have close geographical links. Given the inter-linkages, any disruption in respect to climate or other socio-economic issues in any of the two countries have cross-border impacts. For an effective solution to the challenges that follow from the change in the climate or disruption in the global order demands joint action.

India with a billion-plus people is one of the most populous countries in the world. Bangladesh, with a 160 million population is one of the most densely populated countries in the world. The youth are a significant portion of the population of these countries. The presence of the young population is considered to be positive as it drives the economic growth but to enjoy its benefit employment opportunities must be provided first. India and Bangladesh together are pressed to generate employment for their young population as millions join the workforce yearly. Manufacturing-based industry has been a major basis of the economy and a major source of employment. Earnings from the export of its produces enhance economic growth. It's worth noting that most of the products are marketed in the Western World which is at the forefront of the Fourth Industrial Revolution. The European Union has been a major market for Bangladesh's famous readymade garment industry. Similarly, the EU is India's second-largest trade partner. Besides these, remittances form a major source of earnings for India and Bangladesh, which proceeds from large migration of labour force into economically prosperous countries.

The Fourth Industrial Revolution, which has been propelled by the technological enhancement, is predicted to bring in major disruptions in the norms of doing business globally. The impact of the revolution primarily felt in the areas of manufacturing and among the labour force that will also to impact the migration pattern. Given the nature of economic structure, India and Bangladesh are likely to face socio-economic challenges.

Similarly, climate change that tends to alter the nature of rainfall, evaporation, snow, stream flow etc. is likely to challenge food, health and economic security of the people. Climate change will affect the cropping pattern. Since the region is contiguous, to make policies effective it will require a cross-border approach.

India and Bangladesh share a warm and friendly relationship. The two countries have been cooperating in many areas, including security, trade and economics, connectivity, energy, space, agriculture, climate change etc. The transformation of the relationship where the emphasis was on security is encouraging. This trend suggests the openness of the authorities of the two countries to align their policies to the demands of changing time.

The present challenges suggest there is a need for enhancing cooperation further. The two countries should work together by sharing knowledge. Given India's technological capability, India should help Bangladesh to develop skills for the workforce befitting to deal with the demands of the changing world. Bangladesh, which has earned accolade for advances in climate change mitigation, should cooperate in this front.

Cooperation between the two countries will be important for the prosperity of the entire South Asia region.