Bangladesh Navy personnel have retrieved five bodies and rescued two fishermen alive from the Bay of Bengal, where a day earlier an Indian fishing boat capsized with 17 crew on board.

"We’ve rescued two fishermen alive," Bangladesh Navy official told Xinhua news agency on Sunday.

"Five bodies have also been retrieved," said the official.

The 17 Indian fishermen were reportedly missing on Saturday after their fishing boat capsized on the coast of Bangladesh.

Bangladesh Navy has deployed two vessels and a patrol aircraft after getting signal from another vessel travelling with the sunken Indian boat.

The Indian boat reportedly sank in the Bay of Bengal about 40 nautical miles north of Hiron Point, one of the well-known vacation destinations in Sundarbans, the world’s largest mangrove forest.