One action by India and Bangladesh loses Rs 9367 crore, Modi govt punishes anti-India Yunus by…
New Delhi: The Modi government is in full action mode and taking all the stern steps to destroy terrorism and its breeding grounds. After launching a brutal attack on nine terrorist camps in Pakistan and PoK, the Indian government is now targeting countries that support Pakistan or maintain close ties with it. These include Turkey and Azerbaijan, and even Bangladesh, which has a deep friendship with China, is now on India’s radar.
Recently, Mohammad Yunus made controversial remarks against India during his visit to China. Now, he is set to pay a heavy price for it. With just one move, India is about to cause a loss of USD 770 million—roughly Rs 6,581 crore or about 9,367 crore Bangladeshi Taka—to this close ally of China. Let’s understand how this is happening…
India Bans Land Ports for Bangladesh
The Modi government has launched a scathing economic strike against Bangladesh. India has banned several Bangladeshi goods from entering through its land ports. India revoked the transshipment facility it had granted in 2020, which had allowed Bangladesh to export to the Middle East and Europe via Indian ports and even the Delhi airport.
On Saturday, May 17, India imposed restrictions at its ports on several types of goods imported from Bangladesh, including ready-made garments and processed food products, among others.
On Saturday, the Directorate General of Foreign Trade (DGFT) issued a notification where it has stated that the import of ready-made garments from Bangladesh will now be restricted to just two ports—Nhava Sheva and Kolkata Port.
Imports through all other land ports will be prohibited. This clearly means that Bangladesh will now have to rely solely on sea ports for its exports instead of land ports.
GTRI Reveals the Extent of Loss to Bangladesh
Following the directive from the Directorate General of Foreign Trade (DGFT), these steps were taken, in which the Government of India has immediately restricted Bangladeshi goods at land ports and allowed their entry only through two designated sea ports.
A report released by the Global Trade Research Initiative (GTRI) explains the potential impact of this action by India on Bangladesh. According to the report, India’s decision to ban Bangladeshi imports via land ports could affect goods worth $770 million (approximately 9,367 crore Bangladeshi Taka), which accounts for about 42% of the total bilateral imports.
News