Latest news with #Yunus'
Mint
21 hours ago
- Business
- Mint
India bans import of jute, other items via land routes amid strained Bangladesh ties: Details here
India on Friday tightened trade restrictions on Bangladesh, announcing a ban on imports of certain jute products and woven fabrics through all land routes, citing strained relations between the two countries. These measures were announced in the context of the controversial statements made by Muhammad Yunus, the head of Bangladesh's interim government, in China. Under the new directive from the Directorate General of Foreign Trade (DGFT), imports will be allowed only through the Nhava Sheva seaport in Maharashtra, PTI reported. The goods under these curbs include jute products, flax tow and waste, jute and other bast fibres, jute, single flax yarn, single yarn of jute, multiple folded, woven fabrics or flex, and unbleached woven fabrics of jute. This effectively closes all land border crossings for these specific goods, a significant disruption for cross-border trade. Such port restrictions will not apply to Bangladeshi goods transiting through India to Nepal and Bhutan, it added. The DGFT further said re-exports of these products from Bangladesh to India through Nepal and Bhutan will not be allowed. "Import from Bangladesh shall not be allowed from any land port on the India-Bangladesh border. However, it is allowed only through the Nhava Sheva seaport," the DGFT said, adding that "imports of certain goods from Bangladesh to India are regulated with immediate effect". The latest ban is not an isolated incident. Earlier in April and May, India announced similar curbs on imports from Bangladesh. On May 17, India imposed port restrictions on the import of certain goods like readymade garments and processed food items, from the neighbouring country. On April 9, India withdrew the transhipment facility it had granted to Bangladesh for exporting various items to the Middle East, Europe and various other countries except Nepal and Bhutan, the news agency reported. The new measures were announced after Yunus' comments that irked New Delhi. They also drew sharp reactions from political leaders across party lines in India. India-Bangladesh relations have deteriorated after Yunus failed to contain attacks on minorities, especially Hindus. Bangladesh is a big competitor of India in the textile sector. The India-Bangladesh trade stood at $12.9 billion in 2023-24. In 2024-25, India's exports stood at $11.46 billion, while imports were $2 billion. Bangladesh's perceived growing closeness with Pakistan and China and the implications of India's strained ties with its eastern neighbour were also discussed at a parliamentary committee meeting on Friday, according to the news agency.
Time of India
a day ago
- Business
- Time of India
India-Bangladesh trade: India curbs cetain jute imports from Bangladesh via land, allows only Nhava Sheva port access
India on Friday banned imports of certain jute products and woven fabrics from Bangladesh through all land routes, permitting entry only via the Nhava Sheva seaport in Maharashtra, amid increasingly strained relations between the two nations. The Directorate General of Foreign Trade (DGFT), in a notification, said 'Import from Bangladesh shall not be allowed from any land port on the India-Bangladesh border. However, it is allowed only through Nhava Sheva seaport.' It added, 'Imports of certain goods from Bangladesh to India are regulated with immediate effect.' The restricted items include jute products, flax tow and waste, jute and other bast fibres, single and multiple jute yarns, woven fabrics of flax, and unbleached woven fabrics of jute, PTI reported. The DGFT clarified that these restrictions will not apply to Bangladeshi goods transiting through India to Nepal and Bhutan. However, re-exports of these products from Bangladesh to India via Nepal and Bhutan will not be allowed. This move marks the third such curtailment in recent months. On May 17, India imposed similar port restrictions on imports from Bangladesh, including ready-made garments and processed food items. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Earlier on April 9, the government withdrew transshipment facilities previously extended to Bangladesh for exports to the Middle East and Europe, with exceptions made only for Nepal and Bhutan. The fresh restrictions come against the backdrop of controversial remarks made by Bangladesh's interim head of government Muhammad Yunus during his visit to China—comments that drew criticism from Indian political leaders across party lines. Tensions have escalated in recent months as India expressed concern over Yunus' failure to curb attacks on religious minorities, especially Hindus. The issue was reportedly discussed at a meeting of a parliamentary committee on Friday, which also flagged Bangladesh's growing proximity with China and Pakistan, according to sources as quoted by PTI. Bangladesh is a significant competitor to India in the textile sector. Bilateral trade between the two countries stood at $12.9 billion in 2023–24, with India's exports at $11.46 billion and imports at $2 billion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
a day ago
- Business
- Time of India
India bans specific jute, textile items from Bangladesh: Imports permitted only through Nhava Sheva seaport - new trade restrictions explained
Photo for representation. NEW DELHI: India on Friday banned specific jute products and woven fabrics entering from Bangladesh via land routes. The Directorate General of Foreign Trade (DGFT) issued a notification stating that these imports would only be permitted through the Nhava Sheva seaport. Previously on May 17, India had restricted port access for various Bangladeshi imports, including readymade garments and processed food items. The restricted items comprise jute products, single flax yarn, single yarn of jute, multiple folded, woven fabrics or flex, and unbleached woven fabrics of jute. This has come in response to growing tensions with Bangladesh's interim administration led by Muhammad Yunus. Earlier, India had implemented import restrictions on various products from Bangladesh, including a ban on readymade garments through land routes. The move allows garments to be imported only through Nhava Sheva and Kolkata ports, impacting a significant portion of Bangladesh's $700 million garment exports to India. The Directorate General of Foreign Trade's notification exempts fish, edible oil, LPG, and crushed stones from the restrictions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Treatment That Might Help You Against Knee Pain (Search Here) Kneepain | Search Search Now Undo However, imports of several products through land customs stations and integrated check posts in Assam, Meghalaya, Tripura, Mizoram, and West Bengal's Changrabandha and Fulbari will be discontinued. The action comes as retaliation to Bangladesh's recent restrictions on Indian yarn and rice imports. India had previously disallowed transit of Bangladesh garments meant for third-market exports, as these goods were taking up freight space at the expense of Indian products. The timing of these restrictions coincides with Yunus' recent proposal for a comprehensive economic plan involving Bangladesh, Nepal, Bhutan, and India's northeastern states.
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Business Standard
07-06-2025
- Politics
- Business Standard
People 'disappointed' with announcement of B'desh polls in April 2026: BNP
People are "disappointed" by Chief Adviser Muhammad Yunus's announcement to hold elections in April 2026, Bangladesh Nationalist Party (BNP) said on Saturday, asserting that April is not the "right time" to conduct polls. The party reiterated its demand for polls by December this year. "April is not the right time for polls in Bangladesh in any way, BNP Secretary-General Mirza Fakhrul Islam Alamgir told journalists. His statement came a day after Yunus, during a televised address to the nation on the eve of the Eid-ul-Adha festival, announced that national elections would be held in the first half of April next year. Yunus' announcement was followed by an urgent virtual meeting of the standing committee of former prime minister Khaleda Zia's BNP, presided over by the party's acting chairman and Zia's son Tarique Rahman from London. In a statement, the BNP said Yunus' address meant an unwarranted delay in arranging the election, adding that it ignored the nation's aspirations, causing people disappointment and anger. The meeting concluded that the election in early April could lead to complications -- both due to adverse weather conditions and the challenges of conducting campaigns and election-related activities during Ramadanwhich may ultimately be used as grounds for deferring the polls. Reiterating the party's proposal to hold the election by December this year, it said the chief adviser's address did not provide any clear justification as to why conducting the election by then would not be feasible. The BNP statement alleged despite being a non-partisan interim government, the Yunus administration put its own neutrality into question by becoming influenced by a particular political quarter, an oblique reference to the student-led National Citizen Party (NCP). According to the statement, the scenario suggests the interim government compromises its neutrality and raises public concerns over the possibility of a free and fair election. The meeting believes the people of the country may be rightly concerned about the possibility of a free and fair election under this government, it said. It said Yunus, in his speech, touched upon issues like ports and corridors topics that did not fall within the interim government's three mandates - justice, reform and elections. The meeting expressed anger at his choice of words in the speech, which crossed the limits of political decorum, the statement said. Yunus, who took charge after the ouster of former prime minister Sheikh Hasina-led Awami League regime in August last year, said the interim government's key responsibility was to hold a clean, peaceful, festive, and inclusive election. Yunus's announcement comes amid mounting pressure from the BNP and several other groups to hold the election by December. The NCP and several rightwing groups, however, said the polls must wait until the reforms and justice were done.
AsiaOne
07-06-2025
- Politics
- AsiaOne
Bangladesh to hold election in first half of April 2026, interim PM says, Asia News
DHAKA - Bangladesh will hold a national election in the first half of April 2026, its de facto premier said on Friday (June 6), after a period of interim unelected government since student-led unrest in 2024 toppled then-prime minister Sheikh Hasina. The administration led by Muhammad Yunus, a Nobel Peace Prize laureate, has been running the South Asian nation of 173 million people since August, when Hasina fled to India in the face of deadly street protests against her government. Yunus' administration, however, has also faced serious discontent in recent weeks, with protests breaking out last month over wage demands and orders relating to the dismissal of public servants for misconduct without lengthy procedures. "After reviewing the ongoing reform activities..., I am announcing to the people today that the next national election will be held on any day in the first half of April 2026," Yunus said in an address to the nation on Friday. The election commission would provide a detailed roadmap for the vote at an appropriate time, said Yunus, who is not aligned with any party and has said he is not interested in running. Opposition groups, including the Bangladesh Nationalist Party (BNP), had been demanding early elections, warning of instability and "strong resentment within the people" if a vote were not held by December. The BNP's leader and former prime minister, Khaleda Zia, was acquitted in January in a 2008 corruption case, paving the way for her to run in the next election. Hasina's Awami League party was effectively barred from contesting the polls when the elections commission suspended its registration last month. Yunus' government had earlier banned all Awami League activities under the Anti-Terrorism Act after days of protests, citing national security threats. Hasina, credited with turning around the economy but accused of human rights violations and the suppression of dissent, won a fourth straight term in 2024, but the vote was boycotted by the main opposition, whose top leaders were in jail or in exile. [[nid:714397]]
