Domestic exporters on Monday expressed concerns over the crisis in Bangladesh and said the developments in the neighbouring country would have implications on bilateral trade. However, exporters expect that the situation may normalise soon. According to exporters, they are already facing disruptions in exports to Bangladesh due to a shortage of foreign exchange in that country.
India's exports of perishable goods are facing challenges at the border.
Bangladesh Prime Minister Sheikh Hasina has resigned, and an interim government is taking over in the country.
Think tank GTRI said Bangladesh has been facing a severe dollar shortage, which has limited its ability to import goods, including those from India.
Rising inflation in the country has also reduced domestic demand, leading to lower consumption of local and imported products.
"As Bangladesh experiences political turmoil, it is essential for all political factions to protect garment and other factories and keep supply lines open across the border to sustain trade and economic activity," Global Trade Research Initiative (GTRI) founder Ajay Srivastava said.
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This is an evolving situation; the PSA BDP team will continue to actively monitor the situation and keep our customers apprised of any new developments.
In the meantime, please reach out to your local PSA BDP representative with any questions or concerns you may have.
