India Steps Up to Alleviate Trade Concerns Amid Bangladesh's Political Crisis

India is closely monitoring the political situation in Bangladesh to resolve trade disruptions. Commerce Secretary Sunil Barthwal expressed optimism about improving bilateral trade. Nobel laureate Muhammad Yunus has returned to Bangladesh to lead the interim government amid political upheaval. Both nations are key trade partners, with significant import-export activities.

India is closely monitoring the unfolding political situation in Bangladesh and taking proactive measures to alleviate disruptions in cross-border trade, according to Commerce Secretary Sunil Barthwal, who spoke on Wednesday.

Domestic exporters have voiced their concerns about the crisis in Bangladesh and its potential implications for bilateral trade. Barthwal assured that the situation is improving rapidly, and most trade disruptions have been addressed. He emphasized India's commitment to enhancing trade relations with Bangladesh and stated that all possible efforts are being made toward this goal.

On August 8, Nobel laureate Muhammad Yunus returned from Paris to take oath as the head of Bangladesh's interim government. This follows the resignation of Prime Minister Sheikh Hasina amid widespread protests. Despite the turmoil, India's exports to Bangladesh rose by 11.13% in July to USD 803.52 million, with a 10.76% increase during April-July compared to the previous year. With Bangladesh as India's biggest trade partner in South Asia, both nations stand to benefit from stabilized trade relations. FIEO President Ashwani Kumar also highlighted that a return to normalcy in trade will boost overall order bookings and labour-intensive export sectors.

(With inputs from agencies.)