Latest news with #RakibulAlamChowdhury
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.
Express Tribune
18-05-2025
- Business
- Express Tribune
India imposes border import curbs on Bangladesh amid strained ties
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 India's commerce ministry announced restrictions on some imports from Bangladesh via its land borders, prompting fears for the South Asian country's export-reliant economy. Relations between the two countries have deteriorated after former Bangladeshi prime minister Sheikh Hasina – a long-term New Delhi ally – was ousted last year, and fled to India where she is currently living in self-imposed exile. New Delhi announced late Saturday that ready-made garments from Bangladesh cannot be imported through land borders, while some other goods – including cotton, processed foods and wooden funiture – have been barred from at least six entry points in northeast India. The announcement came a month after Bangladesh banned yarn imports from New Delhi through the same land routes. The latest move is a 'big threat', Bangladeshi conglomerate Pran-RFL Group, which exports around $60 million of goods annually to India, told AFP. 'India is the largest market for Pran-RFL Group's processed foods, plastic products, furniture, and PVC-finished goods,' director Kamruzzaman Kamal said. 'With the latest restrictions, almost every category of our products are getting affected. This is a big threat for the company and the country as well,' Kamal said, urging a bilateral solution with India. The textile industry would be temporarily affected by the move, said Rakibul Alam Chowdhury of the Bangladesh Garment Manufacturers and Exporters Association. Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem also denounced the tit-for-tat move by New Delhi, adding that border trade would 'face a blow'. However, he believed that garment exporters 'will be able to cover up the impact'. The government in Dhaka told AFP it had not been officially informed of the latest restrictions. 'We haven't received any official copy of notification. Once we get the documents and then we can come up with our decision after going through it,' said Ministry of Commerce advisor Sheikh Bashir Uddin. Bangladesh imported around $9 billion worth of goods from India in the last 10 months of the 2024 financial year, while exports to India stood at $1.51 billion, according to Bangladesh Bank and Export Promotion Bureau data. At the start of April, India cancelled a 2020 transshipment deal that allowed Bangladesh to export cargo to third countries via Indian land borders.
Malay Mail
18-05-2025
- Business
- Malay Mail
India tightens trade rules, blocking key Bangladesh imports at land borders
DHAKA, May 18 — India's commerce ministry announced restrictions on some imports from Bangladesh via its land borders, prompting fears for the South Asian country's export-reliant economy. Relations between the two countries have deteriorated after former Bangladeshi prime minister Sheikh Hasina — a long-term New Delhi ally — was ousted last year, and fled to India where she is currently living in self-imposed exile. New Delhi announced late yesterday that ready-made garments from Bangladesh cannot be imported through land borders, while some other goods — including cotton, processed foods and wooden furniture — have been barred from at least six entry points in northeast India. The announcement came a month after Bangladesh banned yarn imports from New Delhi through the same land routes. The latest move is a 'big threat', Bangladeshi conglomerate Pran-RFL Group, which exports around US$60 million (RM257 million) of goods annually to India, told AFP. 'India is the largest market for Pran-RFL Group's processed foods, plastic products, furniture, and PVC-finished goods,' director Kamruzzaman Kamal said. 'With the latest restrictions, almost every category of our products are getting affected. This is a big threat for the company and the country as well,' Kamal said, urging a bilateral solution with India. The textile industry would be temporarily affected by the move, said Rakibul Alam Chowdhury of the Bangladesh Garment Manufacturers and Exporters Association. Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem also denounced the tit-for-tat move by New Delhi, adding that border trade would 'face a blow'. However, he believed that garment exporters 'will be able to cover up the impact'. The government in Dhaka told AFP it had not been officially informed of the latest restrictions. 'We haven't received any official copy of notification. Once we get the documents and then we can come up with our decision after going through it,' said Ministry of Commerce advisor Sheikh Bashir Uddin. Bangladesh imported around US$9 billion worth of goods from India in the last 10 months of the 2024 financial year, while exports to India stood at US$1.51 billion, according to Bangladesh Bank and Export Promotion Bureau data. At the start of April, India cancelled a 2020 transshipment deal that allowed Bangladesh to export cargo to third countries via Indian land borders. — AFP
Yahoo
18-05-2025
- Business
- Yahoo
India restricts some imports from Bangladesh through land ports
India's commerce ministry announced restrictions on some imports from Bangladesh via its land borders, prompting fears for the South Asian country's export-reliant economy. Relations between the two countries have deteriorated after former Bangladeshi prime minister Sheikh Hasina -- a long-term New Delhi ally -- was ousted last year, and fled to India where she is currently living in self-imposed exile. New Delhi announced late Saturday that ready-made garments from Bangladesh cannot be imported through land borders, while some other goods -- including cotton, processed foods and wooden funiture -- have been barred from at least six entry points in northeast India. The announcement came a month after Bangladesh banned yarn imports from New Delhi through the same land routes. The latest move is a "big threat", Bangladeshi conglomerate Pran-RFL Group, which exports around $60 million of goods annually to India, told AFP. "India is the largest market for Pran-RFL Group's processed foods, plastic products, furniture, and PVC-finished goods," director Kamruzzaman Kamal said. "With the latest restrictions, almost every category of our products are getting affected. This is a big threat for the company and the country as well," Kamal said, urging a bilateral solution with India. The textile industry would be temporarily affected by the move, said Rakibul Alam Chowdhury of the Bangladesh Garment Manufacturers and Exporters Association. Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem also denounced the tit-for-tat move by New Delhi, adding that border trade would "face a blow". However, he believed that garment exporters "will be able to cover up the impact". The government in Dhaka told AFP it had not been officially informed of the latest restrictions. "We haven't received any official copy of notification. Once we get the documents and then we can come up with our decision after going through it," said Ministry of Commerce advisor Sheikh Bashir Uddin. Bangladesh imported around $9 billion worth of goods from India in the last 10 months of the 2024 financial year, while exports to India stood at $1.51 billion, according to Bangladesh Bank and Export Promotion Bureau data. At the start of April, India cancelled a 2020 transshipment deal that allowed Bangladesh to export cargo to third countries via Indian land borders. sj/sa/aks/tc/dhc
Yahoo
18-05-2025
- Business
- Yahoo
India restricts some imports from Bangladesh through land ports
India's commerce ministry announced restrictions on some imports from Bangladesh via its land borders, prompting fears for the South Asian country's export-reliant economy. Relations between the two countries have deteriorated after former Bangladeshi prime minister Sheikh Hasina -- a long-term New Delhi ally -- was ousted last year, and fled to India where she is currently living in self-imposed exile. New Delhi announced late Saturday that ready-made garments from Bangladesh cannot be imported through land borders, while some other goods -- including cotton, processed foods and wooden funiture -- have been barred from at least six entry points in northeast India. The announcement came a month after Bangladesh banned yarn imports from New Delhi through the same land routes. The latest move is a "big threat", Bangladeshi conglomerate Pran-RFL Group, which exports around $60 million of goods annually to India, told AFP. "India is the largest market for Pran-RFL Group's processed foods, plastic products, furniture, and PVC-finished goods," director Kamruzzaman Kamal said. "With the latest restrictions, almost every category of our products are getting affected. This is a big threat for the company and the country as well," Kamal said, urging a bilateral solution with India. The textile industry would be temporarily affected by the move, said Rakibul Alam Chowdhury of the Bangladesh Garment Manufacturers and Exporters Association. Bangladesh Knitwear Manufacturers and Exporters Association president Mohammad Hatem also denounced the tit-for-tat move by New Delhi, adding that border trade would "face a blow". However, he believed that garment exporters "will be able to cover up the impact". The government in Dhaka told AFP it had not been officially informed of the latest restrictions. "We haven't received any official copy of notification. Once we get the documents and then we can come up with our decision after going through it," said Ministry of Commerce advisor Sheikh Bashir Uddin. Bangladesh imported around $9 billion worth of goods from India in the last 10 months of the 2024 financial year, while exports to India stood at $1.51 billion, according to Bangladesh Bank and Export Promotion Bureau data. At the start of April, India cancelled a 2020 transshipment deal that allowed Bangladesh to export cargo to third countries via Indian land borders. sj/sa/aks/tc/dhc
