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Source: AFP
India's commerce ministry announced restrictions connected immoderate imports from Bangladesh via its onshore borders, prompting fears for the South Asian country's export-reliant economy.
Relations betwixt the 2 countries person deteriorated aft erstwhile Bangladeshi premier curate Sheikh Hasina -- a semipermanent New Delhi state -- was ousted past year, and fled to India wherever she is presently surviving successful self-imposed exile.
New Delhi announced precocious Saturday that ready-made garments from Bangladesh cannot beryllium imported done onshore borders, portion immoderate different goods -- including cotton, processed foods and woody funiture -- person been barred from astatine slightest six introduction points successful northeast India.
The announcement came a period aft Bangladesh banned yarn imports from New Delhi done the aforesaid onshore routes.
The latest determination is simply a "big threat", Bangladeshi conglomerate Pran-RFL Group, which exports astir $60 cardinal of goods annually to India, told AFP.
"India is the largest marketplace for Pran-RFL Group's processed foods, integrative products, furniture, and PVC-finished goods," manager Kamruzzaman Kamal said.
"With the latest restrictions, astir each class of our products are getting affected. This is simply a large menace for the institution and the state arsenic well," Kamal said, urging a bilateral solution with India.
The textile industry would beryllium temporarily affected by the move, said Rakibul Alam Chowdhury of the Bangladesh Garment Manufacturers and Exporters Association.
Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem besides denounced the tit-for-tat determination by New Delhi, adding that borderline commercialized would "face a blow".
However, helium believed that garment exporters "will beryllium capable to screen up the impact".
The authorities successful Dhaka told AFP it had not been officially informed of the latest restrictions.
"We haven't received immoderate authoritative transcript of notification. Once we get the documents and past we can travel up with our determination aft going done it," said Ministry of Commerce advisor Sheikh Bashir Uddin.
Bangladesh imported astir $9 cardinal worthy of goods from India successful the past 10 months of the 2024 fiscal year, portion exports to India stood astatine $1.51 billion, according to Bangladesh Bank and Export Promotion Bureau data.
At the commencement of April, India cancelled a 2020 transshipment woody that allowed Bangladesh to export cargo to 3rd countries via Indian onshore borders.
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Source: AFP
