Can I assume, from the above, that DMcG believes that Bangladesh is in India?
If not, the conflation of these two ideas makes no sense.

No, of course I don't think Bangladesh is in India (especially as I have visited both). But if you thought Rees-Mogg was only talking about Indian regulations you have a strange view of committee discussions. His point was surely that he felt the EU standards put us at a disadvantage against our potential competitors and India was merely an illustrative example.   What I think makes no sense is to assume he meant India and only India.