Latest news with #importrestrictions
Times of Oman
19-05-2025
- Business
- Times of Oman
India has restricted imports worth USD 770 mn from Bangladesh, 42% of bilateral imports: GTRI
New Delhi: India's restrictions on imports from Bangladesh via land ports will impact goods worth USD 770 million, accounting for nearly 42 per cent of total bilateral imports, according to the Global Trade Research Initiative (GTRI) report, a trade-focused research Group. Union Ministry of Commerce and Industry on Saturday 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). After this decision, key goods like garments, processed foods, and plastic items are now limited to select sea ports or barred from land routes entirely. Under the new policy, Bangladeshi garments, which are valued at USD 618 million annually, can now enter India only through two designated seaports, effectively barring access via land routes that previously served as primary trade arteries. The decision will severely impact Bangladesh's most lucrative export channel to India, the GTRI added. Indian textile manufacturers have long voiced concern over what they describe as unfair advantages enjoyed by Bangladeshi competitors, who benefit from duty-free imports of Chinese fabric and substantial government export subsidies. These factors reportedly give Bangladeshi exporters a 10-15 per cent pricing edge in the Indian market. The GTRI added in its report that these trade measures did not emerge in isolation. "The restrictions look like India's response to Dhaka restricting imports from India on a large number of items and diplomatic pivot towards China," the GTRI report added. The move is also possibly being seen as a response to controversial remarks by Bangladesh's interim chief advisor, Muhammad Yunus. During a speech in China, Bangladesh's Chief Adviser Yunus had described India's northeastern states as a "landlocked region with no access to the ocean". This comment has sparked diplomatic friction, with Indian officials viewing it as undermining the region's connectivity and status. Highlighting Dhaka's increasing proximity with China, the report adds that the fall of Sheikh Hasina's pro-India government in mid-2024 and the rise of an interim administration under Muhammad Yunus have brought a willingness to align with Beijing. Yunus's visit to China in March 2025 yielded USD 2.1 billion in new investments and cooperation agreements. All these developments, along with infrastructure projects like the Teesta River development, have posed a significant threat to India's position in the region. Since late 2024, Bangladesh has imposed a series of restrictions on Indian exports. These include an April 2025 ban on Indian yarn imports through five major land ports, tighter curbs on rice shipments, and import bans on dozens of Indian goods--from paper and tobacco to fish and powdered milk. Adding to the friction, Dhaka introduced a transit fee of 1.8 taka per tonne per kilometre on Indian goods moving through its territory. The report added that these cumulative actions, along with operational delays and tightened port inspections, have hampered Indian exporters and triggered calls for a calibrated response.
South China Morning Post
18-05-2025
- Business
- South China Morning Post
India restricts imports from Bangladesh as ‘reciprocal measure'
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 on Saturday 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 after Bangladesh banned yarn and rice imports from India through the same land routes last month. An Indian government source described the new restriction on garment imports as a 'reciprocal measure', adding that the move will 'restore equal market access for both countries'. The government in Dhaka said it had not been officially informed of the latest restrictions.
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
