Latest news with #CheckPosts
Express Tribune
24-05-2025
- Business
- Express Tribune
Bangladesh cancels $21m defence contract with India's GRSE
The textile industry would be temporarily affected by the move, said Rakibul Alam Chowdhury of the Bangladesh Garment Manufacturers and Exporters Association. PHOTO: FILE Listen to article Bangladesh has cancelled a $21 million defence contract with India's state-owned Garden Reach Shipbuilders and Engineers Ltd (GRSE), amid growing strain in bilateral relations. The contract, awarded in July 2024, was for an advanced ocean-going tug for the Bangladesh Navy, a vessel designed for deep-sea towing and salvage missions. GRSE, a public sector unit under India's Ministry of Defence, confirmed the cancellation in a stock exchange filing on May 21. According to The Hindu, GRSE stated that the cancellation was anticipated and followed 'mutual discussions' with the Bangladesh government. The company added that the financial impact would be negligible, as the order represented just 0.8% of its ₹22,680.75 crore ($2.7 billion) order book as of March 31, 2025. No official reason was given by Dhaka. However, as reported by Business Standard, analysts view the move as a possible retaliation for New Delhi's recent imposition of import restrictions on Bangladeshi goods. On May 18, India tightened controls at Integrated Check Posts in its northeastern region, affecting shipments of ready-made garments and processed foods. These measures followed India's earlier decision to withdraw a transshipment facility that had enabled Bangladeshi goods to reach third countries via Indian territory. The diplomatic setback comes amid a broader shift in Bangladesh's foreign policy posture following the departure of Sheikh Hasina's administration in August 2024. The ocean-going tug, while modest in budgetary terms, had been a strategic symbol of India-Bangladesh defence cooperation. Its cancellation underscores a deterioration in that relationship. In a press release on May 22, GRSE said it had been selected as the lowest bidder for the Indian Navy's Next Generation Corvette (NGC) programme. The company, based in Kolkata, has delivered 111 warships to Indian maritime forces and friendly foreign navies, including missile and anti-submarine corvettes. India-Bangladesh tensions rise amid trade curbs and political crackdow India-Bangladesh relations have deteriorated in recent months due to escalating trade restrictions and political developments. India has restricted imports of Bangladeshi garments to select ports, impacting exports worth $700 million annually. It has also blocked Bangladeshi consumer goods at 11 northeastern land ports and ended a key transit facility for Bangladeshi exports to third countries via Indian routes. In response, Bangladesh halted yarn imports from India through land ports in mid-April. Despite being India's largest trading partner in the region during FY24, and India ranking as Bangladesh's second-largest export market, trade ties have cooled sharply. At the same time, Bangladesh's interim government has banned the Awami League—the party of ousted Prime Minister Sheikh Hasina—under anti-terrorism laws, citing security concerns.
Hans India
18-05-2025
- Business
- Hans India
Bangladesh faces $770 million hit due to India's curbs on trade
India's decision to restrict imports from Bangladesh is expected to hit goods worth $770 million (Rs 6,600 crore) that flow in through the cross-border trade points with the neighbouring country. "Readymade garments, valued at $618 million (Rs 5,290 crore), now face strict routing through only two Indian seaports. This severely limits Bangladesh's most valuable export channel to India," said Ajay Srivastava, founder of think-tank Global Trade Research Initiative (GTRI). The other goods that have been barred from entry into India through the land customs stations on the border include fruit-flavoured carbonated drinks, processed foods, cotton and cotton yarn waste, plastic and PVC finished goods, and wooden furniture. The total value of these items is pegged at around $153 million (Rs 1,310 crore). India's Directorate General of Foreign Trade (DGFT) issued a notification imposing land port restrictions on the import of goods such as readymade garments, processed food items etc., from Bangladesh to India with immediate effect on Saturday. 'However, such said port restriction will not apply to Bangladesh goods transiting through India but destined for Nepal and Bhutan,' the DGFT said in its notification. According to the directive, 'Import of all kinds of Ready-Made Garments from Bangladesh shall not be allowed from any land port, however, it is allowed only through Nhava Sheva and Kolkata seaports'. These items 'shall not be allowed through any Land Customs Stations (LCSs)/ Integrated Check Posts (ICPs) in Assam, Meghalaya, Tripura and Mizoram; and LCS Changrabandha and Fulbari, in West Bengal". "The port restrictions do not apply to the import of Fish, LPG, edible oil, and crushed stone from Bangladesh,' the notification further read. The Indian move came after the Bangladesh government in April banned the import of yarns from India to the country via land ports through a notification from the National Board of Revenue (NBR). Earlier, India terminated the trans-shipment facility for Bangladesh, which allowed the latter to export its products to other countries through Indian seaports and airports. India is Bangladesh's second-largest trading partner after China. In the fiscal 2022-23, Bangladesh-India trade amounted to around $16 billion. Bangladesh imported goods worth about $14 billion, while its exports to India stood at $2 billion, as per industry data.
India Gazette
18-05-2025
- Business
- India Gazette
"Bangladesh can't survive if they go against India": BJP's Dilip Ghosh
North 24 Parganas (West Bengal) [India], May 18 (ANI): As India imposes port restrictions on import of several categories of goods from Bangladesh, Bharatiya Janata Party (BJP) leader Dilip Ghosh on Sunday asserted that the neighbouring country in the east couldn't survive if it ventures out against India. 'When we can tighten screws on Pakistan, then what is Bangladesh? It is surrounded by India from all four sides. For Bangladesh, everything is in our hands, from air to water, business to commerce. They should understand that it cannot survive if they go against India,' Ghosh told ANI. His remarks come after the Ministry of Commerce and Industry has imposed immediate port restrictions on the import of several categories of goods from Bangladesh, following a directive issued by the Directorate General of Foreign Trade (DGFT). The move limits the entry of products such as ready-made garments and processed foods to specific seaports, an official press release by the Ministry stated. Under the new directive, all kinds of ready-made garments from Bangladesh can now only be imported through Nhava Sheva and Kolkata seaports, with entry through land ports no longer permitted. Additionally, the import of items such as fruit-flavoured and carbonated drinks, processed food, cotton waste, PVC and plastic finished goods (except approved industrial inputs), and wooden furniture has been restricted at Land Customs Stations (LCSs) and Integrated Check Posts (ICPs) in Assam, Meghalaya, Tripura, Mizoram, and West Bengal's Changrabandha and Fulbari. The directive makes clear that imports of essential items like fish, LPG, edible oil, and crushed stone remain unaffected. Goods transiting through India from Bangladesh to Nepal and Bhutan are also exempt. The restrictions come in the wake of remarks made by Bangladesh's interim Chief Adviser Muhammad Yunus during a speech in China, where he referred to India's northeastern states as a 'landlocked region with no access to the ocean.' Indian officials interpreted the comment as a challenge to the region's connectivity and sovereignty, triggering a diplomatic backlash. (ANI)
India Gazette
18-05-2025
- Business
- India Gazette
India curbs Bangladeshi exports via land ports
New Delhi [India], May 18 (ANI): The Ministry of Commerce and Industry has imposed immediate port restrictions on the import of several categories of goods from Bangladesh, following a directive issued by the Directorate General of Foreign Trade (DGFT). The move limits the entry of products such as ready-made garments and processed foods to specific seaports, an official press release by the Ministry stated. The move is widely viewed as a response to Bangladesh's recent curbs on Indian yarn, rice, and other goods, along with its decision to impose a transit fee on Indian cargo, marking a shift from previously cooperative trade relations. Under the new directive, all kinds of ready-made garments from Bangladesh can now only be imported through Nhava Sheva and Kolkata seaports, with entry through land ports no longer permitted. Additionally, the import of items such as fruit-flavoured and carbonated drinks, processed food, cotton waste, PVC and plastic finished goods (except approved industrial inputs), and wooden furniture has been restricted at Land Customs Stations (LCSs) and Integrated Check Posts (ICPs) in Assam, Meghalaya, Tripura, Mizoram, and West Bengal's Changrabandha and Fulbari. The directive makes clear that imports of essential items like fish, LPG, edible oil, and crushed stone remain unaffected. Goods transiting through India from Bangladesh to Nepal and Bhutan are also restrictions come in the wake of remarks made by Bangladesh's interim Chief Adviser Muhammad Yunus during a speech in China, where he referred to India's northeastern states as a 'landlocked region with no access to the ocean.' Indian officials interpreted the comment as a challenge to the region's connectivity and sovereignty, triggering a diplomatic in New Delhi have framed the decision as a corrective measure. One official told ANI, 'Bangladesh cannot assume market access without reciprocity. For years, India extended concessions without equal returns. This decision restores balance.'Previously, 93 per cent of Bangladesh's exports to India moved through land ports in the Northeast. The new restrictions are expected to increase logistics costs for Bangladeshi exporters, especially those in the USD 740 million ready-made garment sector, which relies heavily on quick cross-border trade. Indian authorities have expressed hope that the shift will offer new opportunities to local manufacturers, while also reinforcing the strategic importance of fair trade and regional economic stability. (ANI)
India.com
18-05-2025
- Business
- India.com
After Turkey, Azerbaijaan, India takes step to teach Bangladesh a lesson, imposes ban on ready-made garments, plastic..., Full list here
India takes a Massive step to teach Bangladesh a lesson New Delhi: India has imposed a ban on the entry of Bangladeshi ready-made garments, plastic products, and other goods through its northeastern land ports—Assam, Meghalaya, Tripura, Mizoram—as well as through Fulbari and Changrabandha in West Bengal. This comes after Bangladesh's Chief Adviser Muhammad Yunus referred to India's northeastern states as 'landlocked regions without access to the sea,' which sparked a diplomatic dispute during his speech in China. India has taken Muhammad Yunus's statement as an attempt to disturb regional connectivity and stability. After the Modi government's stern order, Bangladesh will now have to export ready-made garments (RMG), plastic, melamine, furniture, juice, carbonated drinks, bakery items, confectionery, and processed food products through Kolkata port in West Bengal or Nhava Sheva port in Maharashtra. This will now result into a sharp increase in logistics costs. To recall, 93 percent of Bangladesh's exports to India used these land routes, so the impact on its RMG sector—which exports textiles worth nearly USD 740 million to India annually—could be significant. Indian authorities have defended the move as a step toward ensuring 'fair trade.' They also pointed out that Bangladesh charges Indian goods 1.8 taka per ton per kilometer—more than double its domestic rate of 0.8 taka. An Indian official stated, 'Bangladesh cannot access the market without reciprocity. For years, India has granted concessions without receiving equivalent benefits. This decision restores balance.' According to the reports, the Bangladesh government continues to impose port restrictions on Indian exports, particularly at Integrated Check Posts (ICPs) along the borders of northeastern states. Industrial development in the northeastern region faces a triple threat, as Bangladesh is imposing unfairly high and economically unviable transit fees, preventing access from the Indian mainland to the Northeast.
