The Tripura Chamber of Trade and Business (TCTB) has expressed its support for the Central Government’s decision to impose restrictions on certain imports from Bangladesh, citing national interest as the top priority. This move is expected to have a significant impact on large exporters and regional trade dynamics along the India-Bangladesh border.
Rajat Paul, the general secretary of TCTB, stated that Bangladeshi exporters who rely on land ports to send goods in substantial quantities will be the most affected by this decision. The Central Government’s action was in response to similar restrictions placed by Dhaka on certain Indian products last month.
The Directorate General of Foreign Trade (DGFT) clarified in its notification that the port restrictions will not apply to Bangladeshi goods passing through India en route to Nepal and Bhutan. However, goods destined for India will face restrictions.
Paul highlighted that Bangladesh currently supplies a significant amount of goods to the northeastern states, including cement and corrugated sheets. With the new restrictions in place, Bangladeshi exporters will face challenges in continuing these trade relationships.
In the 2022-23 financial year, Tripura imported goods worth Rs 636.72 crore from Bangladesh, with the numbers increasing to Rs 703.67 crore in the following fiscal year. In contrast, the state’s exports amounted to only Rs 121.37 crore in 2022-23 and Rs 12.31 crore in the subsequent year.
Tripura, which shares an 856-km-long border with Bangladesh and has five operational land ports, is likely to see a shift in its trade dynamics following the Central Government’s decision to restrict certain imports from Bangladesh. The move has been welcomed by the local trade community as a step towards safeguarding national interests.
