India Adjusts Trade Terms with Bangladesh to Ensure Balanced Market Access

India has introduced new trade restrictions on Bangladeshi exports, aiming to establish a more equitable relationship between the two nations. The move, which limits certain imports from Bangladesh to designated seaports, is seen as a response to Dhaka's existing trade barriers on Indian goods.  

 

Trade Developments:  

- India has restricted the import of ready-made garments from Bangladesh to only two seaports, Kolkata and Nhava Sheva in Mumbai, eliminating land port access for these goods.  

- The decision mirrors Bangladesh's previous restrictions on Indian exports, including yarn and rice, as well as heightened inspections on Indian goods entering its market.  

- Additional limitations have been placed on imports of processed foods, carbonated drinks, wooden furniture, and plastic goods through land customs stations in northeastern states.  

- Essential commodities such as fish, LPG, edible oil, and crushed stone remain unaffected by the new regulations.  

- The policy shift is expected to encourage local manufacturing and entrepreneurship in India's northeastern region, aligning with the Atmanirbhar Bharat initiative.  

 

Sources: Economic Times, India TV News, MSN News