Bangladesh
After teaching Pakistan a lesson, India now looked at Bangladesh. Bangladesh has decided to ban India’s Bangladeshi goods in view of continuous anti -India activities. Let us tell you that India announced to ban $ 77 million imports from Bangladesh on 17 May, which was about 42 percent of bilateral imports. Major items such as apparel, processed foods and plastic items are now limited to select marine ports or completely restricted from land routes. Slixed clothing worth a total of $ 61.8 million is now facing a strict route through only two Indian ports. It severely limits Bangladesh’s most valuable export channel to India.
Experts say that this decision of India is sure to break the back of Bangladesh. Bangladesh’s main business is textile. Now the ban on this will not only slow the speed of the economy, but unemployment will also increase in the state. This will lead to economic loss of Bangladesh on the one hand, on the other hand, India’s domestic readymade (syllasy) textile industry, especially MSME will help to increase its competitiveness.
India will get this benefit
Research Institute Global Trade Research Initiative (GTRI) says that the competitive lead to Bangladesh so far has been a matter of concern for the Indian textile industry. GTRI co-founder Ajay Srivastava said that Bangladeshi exporters get the benefit of subsidy on duty-free sugar cloth imports and exports, giving them a price profit of up to 10-15% on readymade products in the Indian market.
He said that domestic MSME textile units will directly benefit with the implementation of import ban on Indian ports. Apparel Export Promotion Council (AEPC) Vice President A.K. Shaktivel also welcomed the decision and said that the step is in line with the long -standing demand of domestic exporters.
According to Shaktivale, this ban has been taken by Bangladesh recently in response to export restrictions imposed on Indian threads, rice and other items and this will make a significant benefit to the Indian textile industry.
Bangladesh going close to China
Ajay Srivastava of GTRI said that even though Bangladesh is growing close to China, India should not close the doors of negotiation. He said that it is India’s responsibility in the form of a large neighbor and regional power to lead it patiently, maintain dialogue and avoid using business as weapons. According to Srivastava, the trust between the two countries can be restored again through diplomatic efforts and economic cooperation.
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