India-Bangladesh Trade: In 1971, India gave independence to Bangladesh from Pakistan on the power of its army and financial energy. But in in the present day’s circumstances, when Bangladesh itself needs to distance itself from India, its state of affairs has develop into important. Economic and social decline has began in Bangladesh after the fall of Sheikh Hasina authorities in August 2024 and the coming to energy of anti-India forces.
From the financial level of view, Bangladesh’s dependence on India is to a nice extent. 94% of Bangladesh’s border is with India. Due to this 4,367 km lengthy border, Bangladesh’s commerce and safety are extremely depending on India. For instance, the complete commerce between India and Bangladesh in 2022-23 was $16 billion. In this, Bangladesh’s export to India was solely 2 billion {dollars}, whereas the import from India was 14 billion {dollars}. India sends merchandise like cotton, grains, sugar, digital gear, and metal to neighboring nations.
textile trade of bangladesh
If we speak about Bangladesh’s GDP, the textile trade contributes 11 % to it. Of this, India exports 35 % of its complete cotton manufacturing to Bangladesh. In this fashion, if India stops cotton export, Bangladesh’s textile trade might come to a standstill. Since August this 12 months, Bangladesh’s economic system has suffered a loss of Rs 2 lakh crore, attributable to which the GDP development price, which was earlier 6.3 %, is now estimated to be lower than 5. Apart from this, the decline in per capita revenue and rise in inflation have made the state of affairs worse.
Influence of China and Pakistan on Bangladesh
Pakistan and China are attempting to pit Bangladesh in opposition to India. Bangladesh just lately imported 25,000 tonnes of sugar from Pakistan, however its value was larger than that of India. China and Pakistan are luring Bangladesh to supply nuclear know-how, however attributable to this Bangladesh might should face worldwide sanctions.
Also learn: ‘Enmity’ with India and embrace of Pakistan, Yunus-Shahbaz met in Cairo, is Bangladeshi PM conspiring with Pakistan?
