Tiger Logistics (India) Ltd. announced the signing of a Memorandum of Understanding (MOU) with PowerPac Holdings Limited, a concern of Sikder Group, Bangladesh, to formalize a strategic partnership between Tiger Logistics (India) Limited and establish a joint venture (JV) in the logistics sector for global trade. Recognizing the increasing and forecasted demand for international logistics, particularly between India and Bangladesh, Tiger Logistics aims to play a pivotal role in stimulating economic growth in the region and beyond with the diverse expertise of Sikder Group, which handles the development and operations of the Mongla Economic Zone in Mongla Port, the second-largest seaport in Bangladesh. Sikder Group also has a significant presence in various other industries in Bnagladesh, including Banking, Insurance, Healthcare, Restaurants, Hotels & Leisure, International Trading, Power Generation, Infrastructure Development, etc.

The companies plan to enter into a Joint Venture (JV) to establish an International Freight Forwarding and logistics business, leveraging the collective expertise of both organizations and capitalizing on the growth opportunity of Bangladesh's global trade as well as bilateral trade with India. The development comes in continuation of the strengthening of connectivity between the two nations, as Bangladesh granted India permanent access to Chattogram and Mongla Port in April 2023. This move is poised to play a significant role in the transit and trans-shipment of cargo vessels between the countries, further allowing better connectivity to India's North-Eastern States.