Latest news with #India-Bangladesh
News18
a day ago
- Business
- News18
'We Want to Be Your Partner': Yunus Urges Stronger Bangladesh-China Ties Amid India Tensions
Last Updated: Yunus added that these efforts aim to attract foreign direct investment, stimulate economic growth, and generate employment opportunities for the country's youth. Bangladesh Chief Adviser Prof Muhammad Yunus on Monday said that large-scale Chinese investment in Bangladesh can be a game changer for the country's economy, reported Bangladeshi news website The Daily Star. 'Chinese companies are the masters of manufacturing in the globe, and we want to be your partner," Yunus said while inaugurating the China-Bangladesh Conference on Trade and Investment, reported the news website. The daylong event was organized by the Bangladesh Investment Development Authority (BIDA) with assistance from the Bangladesh Economic Zones Authority (BEZA) and the Chinese government at the BIDA office in Dhaka. China's Commerce Minister Wang Wentao attended the event as a special guest. During the event, Yunus also highlighted that tens of millions of young Bangladeshis are eager for meaningful employment to showcase their skills. 'Bangladesh stands on the cusp of a transformative era. Our interim government has been steadfast with implementing reforms aimed at enhancing the investment climate, streamlining regulatory frameworks, and ensuring a conducive environment for business operations," Yunus said, The Daily Star mentioned. Yunus added that these efforts aim to attract foreign direct investment, stimulate economic growth, and generate employment opportunities for the country's youth. He described the conference as a historic occasion for Bangladesh, particularly as this year marks the 50th anniversary of the enduring friendship between Bangladesh and China. During the event, Bangladesh chief adviser emphasized the need to build a future that aspires to reach new heights, highlighting the shared potential of Bangladesh and China. He also mentioned that during his recent visit to Beijing, he had encouraged Chinese President Xi Jinping to support greater investment from Chinese companies in Bangladesh, expressing gratitude for the president's commitment. Recent Strain With India In recent months, India-Bangladesh relations have experienced significant strain, particularly following the ousting of former Prime Minister Sheikh Hasina in August 2024. The interim government led by Muhammad Yunus has pursued a foreign policy that appears to distance itself from New Delhi, fostering closer ties with Beijing and Islamabad. This shift has been marked by a series of reciprocal trade restrictions, including India's imposition of port curbs on Bangladeshi imports such as readymade garments and processed foods, in response to similar measures from Dhaka. Additionally, the cancellation of a $21 million defense contract by Bangladesh with India's state-owned Garden Reach Shipbuilders and Engineers Ltd has further exacerbated tensions. First Published: June 03, 2025, 09:04 IST
India.com
24-05-2025
- Politics
- India.com
Bangladeshs Muhammad Yunus Will Not Resign
After speculation over the resignation of the Chief Adviser of Bangladesh's interim government, Muhammad Yunus, it was clarified that he will not step down, according to the news agency ANI. ANI reported that Yunus will not be leaving the country, and an unscheduled meeting of the Advisory Council was held on Saturday, after the National Economic Council meeting. The meeting discussed the three primary responsibilities — elections, reforms, and justice — assigned to the interim government. #WATCH | Dhaka | Muhammad Yunus, the Chief Adviser of Bangladesh's interim government, will not resign, nor is he leaving the country. Quashing all such rumours, an unscheduled meeting of the Advisory Council was held today, after the National Economic Council meeting. The… — ANI (@ANI) May 24, 2025 Furthermore, according to IANS, Yunus chaired a two-hour-long unscheduled meeting of the Advisory Council at the Planning Commission office in Dhaka on Saturday amid political tensions and growing speculation over the continuity of the interim government, which had also reportedly led to his offering resignation from the post of Chief Advisor. "Despite all obstacles, the Interim Government continues to fulfil its responsibilities by putting national interests above group interests. However, if — under the instigation of defeated forces or as part of a foreign conspiracy — the performance of these responsibilities becomes impossible, the government will present all reasons to the public and then take the necessary steps with the people," a statement issued by the Advisory Council after the meeting. Political Scenario In Bangladesh The political parties of Bangladesh, including the newly formed National Citizen Party (NCP) and the Bangladesh Nationalist Party (BNP), had demanded that the interim government announce a clear plan for the national elections. IANS also reported that Yunus had expressed his desire to step down, and this led to a buzz in the politics of Bangladesh. Bangladesh Army Chief General Waker-Uz-Zaman also said that the next national election should be held by December and an elected government should be in power by January 1, 2026. Reportedly, there have been incidents of protests, crime, and violence in the neighbouring country. The Nobel Laureate Yunus-led interim government had assumed power last August. India-Bangladesh Ties After India placed curbs on Bangladeshi exports via land ports, Dhaka's interim government said that it wants to resolve trade issues with New Delhi. An Adviser to the interim government said that Bangladesh wants to discuss all issues with India, ANI reported. Recently, India had banned the import of Ready Made Garments (RMG), Fruit/Fruit flavoured and carbonated drinks, baked goods, snacks, chips and confectionary, cotton and cotton yarn waste, plastic and PVC finished goods and wooden furniture from Bangladesh by road.
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.
NDTV
20-05-2025
- Sport
- NDTV
We Need To Improve A Lot: Indian Football Team Head Coach Manolo Marquez
Angry and disappointed with India's 0-0 draw against Bangladesh in the Asian Cup qualifying round match, head coach Manolo Marquez on Tuesday made it clear that his side needs a lot of improvement if they are to qualify for the continental showpiece. India were held to a goal-less draw by lower-ranked Bangladesh in their opening Group C match of the qualifying third round match on March 25 in Shillong, which left Marquez fuming. India are up against Hong Kong in their second match -- an away game -- on June 10. The team has started its training camp on Monday. "We need to improve a lot because I felt that the team was going forward in every FIFA window except the last," Marquez said, alluding to the match against Bangladesh. "It's true that for the game against Bangladesh, we lost very important starting players. But it's not an excuse for our poor performance in that game," he said in a release from All India Football Federation (AIFF). "We need to be aware that we have a difficult game in Hong Kong. We have time to prepare, to be competitive and try to win and get the three points." India are placed in Group C of the 2027 Asian Cup qualifying third round along with Bangladesh, Hong Kong and Singapore, and only the top team after six home and away matches qualifies for the continental showpiece. Singapore and Hong Kong also played out a 0-0 draw in their opening Group C match. So, there's nothing to separate the four sides after the opening match day. Singapore will travel to Dhaka to face Bangladesh on June 10. "I feel that all the games are very difficult. I watched Singapore versus Hong Kong. Singapore played much better in the first half, and Hong Kong were better in the second. It was a very equal game like India-Bangladesh," said the Spaniard. Before the match against Hong Kong, India will face Thailand on June 4 in a friendly match in Pathum Thani. Ranked 99th in the world, 28 places above India, Thailand would be a good test for the Blue Tigers, according to Marquez, despite the Changsuek having won against 200-ranked Sri Lanka by a slim margin of 1-0 in March. "I see Thailand as a good preparation for the Hong Kong game because they are a Pot 1 team. I watched their game against Sri Lanka, and they won only 1-0. I feel Sri Lanka didn't deserve to lose that game," he said. Meanwhile, out of the 28 probables called up by Marquez, 26 trained on the first day. Defender Rahul Bheke, who became a father recently, will join on May 23. Midfielder Ashique Kuruniyan is suffering from illness and will begin training with the Blue Tigers on May 21. India will travel to Thailand on May 28. There are a few fresh faces in the Indian camp who have earned their first national team call-up after impressive performances for their clubs in the Indian Super League and the recently-concluded Kalinga Super Cup. Mohun Bagan Super Giant forward Suhail Ahmad Bhat, FC Goa goalkeeper Hrithik Tiwari and Punjab FC midfielder Nikhil Prabhu will hope to make a mark in the camp and make their India debuts. "Suhail is a player with very good movements in attack. We saw in the Super Cup that he's a player who can finish off actions well because his movements in the box are very good," said Marquez. "I know Hrithik perfectly. In my opinion, he will be a top goalkeeper in India. Nikhil Prabhu is a player who is growing a lot. He was a centre-back but played great as a defensive midfielder as well. He's a complete player who is very good with the ball. He has improved a lot in aerial duels and is another player with a good future," the coach added.
Time of India
18-05-2025
- Business
- Time of India
Transit delays, higher costs: Bangladesh garment import curbs to hit buyers
IANS photo NEW DELHI: Indian govt's retaliatory move to restrict import of ready-made garments (RMG) from Bangladesh via the land route is expected to increase logistics costs and transit time for the products which account for around a third of shipments from India's neighbour in the east. While it takes only two-three days for apparel produced in Bangladesh to move through land borders, now the transit time is going to be longer, depending on how long it takes for ships to sail to Kolkata and Nhava Sheva (Mumbai), the two designated ports, and clear customs before taking the land route to reach Indian warehouses. Bangladesh enjoys massive cost advantage 'The decision can hit Bangladesh apparel exports to India in multiple ways, particularly when a substantial proportion of apparel import into India is through land ports, 76% from Petrapole land port alone,' said Mithileshwar Thakur, secretary general of Apparel Export Promotion Council . For Indian retailers, changing suppliers not an easy decision It can restrict their access to the Indian market, increase their delivery time and jack up logistics cost, thereby adversely impacting their cost and export competitiveness,' said Thakur. The council's members are rivals as well as exporters from Bangladesh. Several Indian companies had set up units across the border to take advantage of the lower cost of production, including lower wages and subsidised power, and the tariff advantage that Bangladesh enjoys due to its status as a least developed country (LDC), something that will change as it has now graduated to the middle-income bracket. India-Bangladesh trade 'Indian manufacturers pay a 5% GST on locally-sourced fabric, while Bangladeshi firms import fabric duty-free from China and receive export incentives for sales to India, giving them an estimated 10%-15% price advantage,' explained trade expert Ajay Srivastava. For Indian retailers, as well as global chains operating in the country, switching suppliers is not an easy decision, given the massive cost advantage that Bangladesh enjoys. Besides, it produces at a scale which few Indian manufacturers have and have refused to add capacity despite wide-spread assessment that the political uncertainty will hurt Bangladesh's industrial mainstay, readymade garments. 'If I have a large order, I prefer Bangladesh because one producer can meet my requirement, and on time,' the CEO of an Indian retailer said. India's retaliation follows a series of restrictions imposed by Bangladesh, including a ban on Indian yarn imports through five major land ports, tighter curbs on rice shipments, and import bans on dozens of Indian goods, including paper, tobacco, fish and powdered milk. 'Adding to the friction, Dhaka introduced a transit fee of Taka 1.8 (Rs 1.25) per tonne per km on Indian goods moving through its territory. These cumulative actions, along with operational delays and tightened port inspections, have hampered Indian exporters and triggered calls for a calibrated response,' said Srivastava. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
