An official statement said the visit, till February 25, is intended to take the existing defence cooperation between the armed forces of the two countries to the next level.
The areas of cooperation at present include exchange in military training courses, exchange of visits and joint sporting activities.
During his stay in Bangladesh, Air Chief Marshal Raha, who is also chairman of the Chiefs of Staff Committee, is scheduled to hold bilateral discussions with the three service chiefs of the Bangladesh armed forces in Dhaka.
He will also call on the president and the prime minister of Bangladesh.
The Indian Air Force chief will visit the air bases in Jessore, Bashar and Chittagong, the National Defence College in Dhaka, Military Institute of Science and Technology (MIST) in Mirpur and the Bangladesh Army headquarters.
During his visit to the Military Institute of Science and Technology, Air Chief Marshal Raha will present several training aids related to aircraft systems, as a goodwill gesture.