Homegrown Tiger Logistics (India) has announced the signing of an agreement with Bangladesh's Sikder Group to form a Joint Venture (JV) aimed at enhancing global trade. Sikder Group is responsible for the development and management of the Mongla Economic Zone situated at Mongla Port, the second-largest seaport in Bangladesh, as disclosed in a filing by Tiger Logistics (India). This initiative builds on the efforts to reinforce connectivity between the two countries, following Bangladesh's grant of permanent access to Chattogram and Mongla Port to India in April 2023.

Acknowledging the rising need for global logistics, especially in the context of India and Bangladesh, the company endeavors to be a significant contributor to the economic growth of the region. Tiger Logistics (India) Ltd has disclosed the execution of a Memorandum of Understanding (MoU) with PowerPac Holdings Limited, an entity within the Sikder Group of Bangladesh. This agreement aims to solidify a strategic partnership and create a joint venture (JV) in the logistics sector, specifically for global trade, according to the filing.

"The companies plan to enter into a Joint Venture to establish an international freight forwarding and logistics business, leveraging the collective expertise of both the organizations and capitalizing on the growth opportunity of Bangladesh's global trade as well as bilateral trade with India", it said. Bangladesh is India’s biggest trading partner in the subcontinent, and India is the second-biggest export partner, accounting for 12 percent of the total exports to Bangladesh. The total trade turnover in FY23 touched $ 14.22 billion.