Bangladesh anarchy affects cotton and cotton yarn exports

07-Aug-2024 04:51 PM

Mumbai. India's eastern neighbour is facing a lot of anarchy. There is no government there. The parliament has been dissolved.

The army and police are not trying to control the anarchic elements. Of course, curfew has been imposed in the entire Bangladesh and the army chief has expressed hope that the situation will return to normal soon, but industries have shut down. No work is being done at other major ports including Chittagong.

In such a situation, the export of cotton and cotton yarn and other products from India to Bangladesh has naturally come to a halt.

Spices are also not being exported. Until the situation there becomes normal, it is difficult to run the import-export business smoothly.

It is known that Bangladesh has become the largest importer of Indian cotton and cotton yarn. The Central Government's economic advisory has warned that the export of cotton yarn may be badly affected due to the disturbance and chaos in Bangladesh and this may adversely affect the income of Indian cotton producers and yarn manufacturers.

The Agriculture Ministry has been warned that due to long-term disruption in trade and decline in exports, the supply of cotton in India will increase significantly and there may be severe pressure on prices. Similarly,

the Director General of Foreign Trade has urged the Commerce Ministry that India's import-export business will be affected due to the adverse conditions in Bangladesh.

Many essential commodities are imported from Bangladesh to India, which include clothes made of cotton, aircraft and spacecraft parts, jute, leather, slippers, shoes and marine products etc.

Apart from cotton and cotton yarn, spices, maize and oil meal etc. are exported from India to Bangladesh. Earlier, rice, wheat and sugar etc. were also exported on a large scale, now it has been banned.