The Indian government is monitoring the situation in Bangladesh and taking steps to improve cross-border trade between the two countries, Commerce Secretary Sunil Barthwal said on Wednesday. Domestic exporters have expressed concern over the political crisis in Bangladesh and said developments in the neighbouring country will have an impact on bilateral trade. According to PTI news, Barthwal said that the situation in Bangladesh is improving rapidly and we are monitoring the cross-border trade and we feel that whatever bottlenecks were there have been removed to a large extent.
business must improve
According to the news, Barthwal said that we also believe that trade between India and Bangladesh should improve. So we think we should do whatever best we can to improve trade and we are doing that. On August 8, Nobel laureate Muhammad Yunus returned to Bangladesh from Paris to take oath as the head of Bangladesh’s interim government, three days after Sheikh Hasina resigned as prime minister and fled the country after widespread protests against her rule.
trade between the two countries
According to the report, India’s exports to Bangladesh rose 11.13 per cent to US$ 803.52 million in July. Exports grew 10.76 per cent to US$ 3.58 billion during April-July. Bangladesh is India’s largest trading partner in South Asia and India is the neighbouring country’s second-largest trading partner in Asia. India’s exports to Bangladesh declined to US$ 11 billion in 2023-24 from US$ 12.21 billion in 2022-23. Imports also declined to US$ 1.84 billion from US$ 2 billion in the previous fiscal.
These things are important in export
India’s main exports include vegetables, coffee, tea, spices, sugar, confectionery, refined petroleum oil, chemicals, cotton, iron, steel and vehicles. The main import items are fish, plastic, leather and garments etc. He said that it is too early to say how the situation will change and what will happen. Federation of Indian Export Organizations President Ashwani Kumar said that the return of normalcy in trade between India and Bangladesh will not only boost overall order booking but will also boost labor-intensive sectors of exports.
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