"It's a tribute to your miraculous socio-economic progress, and the statesmanship of Prime Minister Sheikh Hasina," said Indian External Affairs Minister Dr S Jaishankar expressing India's admiration and pride, as Bangladesh's closest neighbour and friend, at Bangladesh‘s expected graduation from LDC status.

He made the remarks at a joint media briefing at State guesthouse Padma after a bilateral meeting with Foreign Minister Dr AK Abdul Momen.

Bangladesh achieved a landmark economic status last week when the United Nations' Committee for Development Policy recommended that the country graduated from the least developed country categorisation it has held for most parts since its independence 50 years ago.

Bangladesh is becoming South Asia's "economic bull case", reported Wall Street Journal on March 3.

WSJ's Hong Kong-based reporter Mike Bird claimed Bangladesh is notable in South Asia for being the "closest proxy" for the successful development models seen at various stages in South Korea, China, and Vietnam.

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Bangladesh provides the world with another example that export-led development has the best modern-day track record of moving countries from very low-income levels into middle-income status, the report said.

Jaishankar wished all friends in Bangladesh the very best as Bangladesh marks key anniversaries -- birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman and 50 years of independence.

"May all your dreams come true and I can assure you that India will always be there as a reliable friend," said the Indian Minister.

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He said Bangladesh's marching contingent at Indian Republic Day Parade January 26th may be a reaffirmation of shared history. "But it’s also an expression for deep solidarity that will always guide our relationship."

Even the pandemic has provided an opportunity to reaffirm friendship, he said adding that Bangladesh is the largest recipient of "Made in India" vaccine, also the largest gift of vaccines (2 million) is also appropriately to Bangladesh.

Bangladesh’s exports have risen by around 80% in dollar terms in the past decade, driven by the booming garment industry, while India and Pakistan’s exports have actually declined marginally, according to WSJ report.

Bangladesh and India are working to prepare for the planned visit of India Prime Minister Narendra Modi.

"It’ll be a very memorable visit: the Prime Minister‘s first travel outside India since the Coronavirus pandemic as well as his second as PM to Bangladesh," Jaishankar said.

He said this is a very special year, when both countries mark the Mujib Barsho, 50 years of Bangladesh‘s Liberation and 50 years of bilateral relations between Bangladesh and India.

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"This truly highlights the importance we attach to these three anniversaries, as well as the enormous regard we’ve for Prime Minister Sheikh Hasina and Bangladesh. Our relations transcend orthodox partnerships," he said.

Jaishankar said he believes their bonding is central to the realisation of the dream of a peaceful, prosperous and progressive South Asia.

"It’s in pursuit of this vision that both sides have made remarkable progress in this relationship, especially since Prime Minister Narendra Modi‘s assumption of office in May

2014."

He said the significance of their ties with Bangladesh lies in its centrality for ’Neighbourhood First' and its growing relevance for India's 'Act East’ Policy.

"We see Bangladesh as a key neighbour and a valued partner not only in South Asia but also in the broader Indo-Pacific region," said.

Jaishankar said every outcome and achievement in the relationship resonates through the region. "It’s no secret that we cite it to others as an example for emulation."