India, B'desh ink duty-free imports deal

Most of the imports in the textiles sector, particularly ready made garments

PTI | September 7, 2011



Taking the trade route to cement bilateral ties, prime minister Manmohan Singh has announced duty-free import of 61 items from Bangladesh that were barred from entering India.

A majority of these items, 46 to be precise, are relate to textiles, particularly readymade garments.

Singh, who on his maiden bilateral visit to Bangladesh, said India was "fully alive to the problem of trade imbalance between India and Bangladesh."

Bangladesh has long complained that trade with India was grossly unequal with India selling about USD 3 billion in goods to Bangladesh against the latter's export of about USD 400 million business in jute, ammonia and garments.

Singh said India has embarked on a series of measures to improve border infrastructure for trade and this will facilitate Bangladesh's exports to India and provide it greater opening to India and other neighbouring countries.

He said India is also addressing issues relating to non-tariff barriers raised by Bangladesh for entry of its goods into Indian market.

Bangladesh's request list for duty-free goods includes all the garment items where it enjoys the advantage of cheaper cost of production compared to India, Indian textile industry sources said.

Bangladesh had for the last one year been pressing India for permitting all the 61 items to be taken off the list of protected goods India maintains under South Asian Free Trade Agreement (SAFTA) because Dhaka is keen to sell them in a bid to reduce a massive gap in bilateral trade.

Comments

 

Other News

‘Oral cancer deaths in India cause productivity loss of 0.18% GDP’

A first-of-its-kind study on the economic loss due to premature death from oral cancer in India by the Tata Memorial Centre has found that this form of cancer has a premature mortality rate of 75.6% (34 premature events / 45 total events) resulting in productivity loss of approximately $5.6 billion in 2022

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter