The situation in Bangladesh is getting worse every day. Several reports of violence have emerged from various parts of the country. The condition is significantly affecting Indian traders as well. Both the large companies and small traders will be affected if the situation doesn’t return to normal.
The exporters are also experiencing huge losses due to this situation, According to reports, items and payments worth around Rs 3,000 crore of Delhi traders are stuck in Bangladesh. The supply of items such as bangles, sarees, lehengas, shoes, makeup products, and various other goods has come to a halt from Bangladesh. However, the prices of the goods are still not affected.
Bangladesh is a major market for branded clothes and shoes. A significant portion of goods come from the neighbouring country. Many Indian companies have also set up units in Bangladesh to save manufacturing costs. Adding to it, as sewing and labour costs are cheaper there as compared to India, many Delhi traders get lehengas and other clothing items stitched there.
Several types of goods are exported to Bangladesh. Several reports suggest that the trade has fully halted between the two nations as the trucks are presently not allowed to travel to Bangladesh under any circumstances. Many traders export car, bike, and e-rickshaw spare parts to Bangladesh. The traders mainly belong to the areas like Karol Bagh and Kashmiri Gate market. A supplier from the Karol Bagh market mentioned that every day thousands of tons of goods are usually sent to Bangladesh. Due to this volatile situation, the exports and imports have stopped completely. They further mentioned that payments worth crores are still pending.
For traders whose payments got stuck due to the violence, the Indian Embassy in Bangladesh is presently their major support. Some traders have contacted officials at the Indian Embassy in Bangladesh with their concerns. The officials have assured the traders that they will make every possible effort to resolve their issue. The traders have also contacted Bangladeshi government officials to get the payments done.
In Bangladesh, Nobel Laureate Professor Muhammad Yunus has accepted the role of chief advisor for Bangladesh’s interim government. This decision follows the resignation of long-time Prime Minister Sheikh Hasina on August 6.
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