Export concerns rise as trade with Bangladesh slows down
BALURGHAT: The ongoing internal instability in Bangladesh has raised fresh concerns among exporters, leading to a significant drop in trade activity over the past one and a half to two months. While there are currently no banking transaction issues with Bangladesh, traders fear that the volatile situation could escalate into a crisis similar to that of Sri Lanka.
Despite demand, many exporters are hesitant to send goods due to uncertainty. According to trade reports, at the beginning of January this year, an average of 125 trucks carrying various goods were being exported to Bangladesh daily from Hili. However, this number has now declined to around 70 trucks per day. Exporters worry that any financial losses could lead to bankruptcy.
Sanojit Majumdar, a prominent exporter from Hili, stated: “There are no banking transaction issues at the moment but the situation remains unpredictable, which is concerning.”
Officials from Hili’s trade organisations confirmed that many Indian traders have received export clearances for Bangladesh, yet some remain reluctant to proceed. Recently, items such as rice, husk, onions and chickpeas have been exported through Hili Land Port to Bangladesh’s Panama Port. Dhiraj Adhikari, Joint Secretary of the Hili Exporters’ Association, expressed his concerns, stating: “I have goods worth nearly 60,000 US dollars ready for export but I am hesitant due to the risks involved.” Several other traders share the same apprehension.
Additionally, reports indicate that many businesses are withdrawing their operations from Bangladesh. Previously, during the tenure of the former Bangladeshi government, banking transactions had posed challenges. After the removal of Sheikh Hasina from power, some exporters faced difficulties when sending goods to Bangladesh amid unrest. Several truck drivers were even forced to abandon their vehicles and flee.
With the export trade severely impacted, Hili’s exporters are facing mounting financial losses. They are now anxiously waiting for stability to return to the region so that trade can resume smoothly.
