 After the emergence of independent Bangladesh in 1971, the Institute was called the Bangladesh Institute of Development Economics (BIDE).Later on, a Parliamentary Charter was awarded in 1974 and the Institute was renamed as the Bangladesh Institute of Development Studies (BIDS) to reflect its multidisciplinary focus of development research.It was incorporated as an autonomous body, governed by a high powered Board of Trustees under the Chairmanship of the Minister of Planning, Government of the People's Republic of Bangladesh.