‘Exports of cotton, iron, steel, perishables, automobiles affected’

Sunil Kohli, Managing Director, Rahat Cargo says, “The ongoing political turmoil in Bangladesh has brought an abrupt halt to the exports of several commodities such as cotton, iron, steel, vegetables – particularly onion, automobiles & assorted auto products. Also severely affected are seafood exports and imports of high-quality jute that are re-exported as value-added jute products. However, the impact will likely be for the short-term, while the textile and jute sectors may gain in the long term as buyers abroad look for a safe destination for timely delivery. The political turmoil in Bangladesh has also impacted some Indian businesses who set up manufacturing bases there. An industry source expects the country may gain from exports of jute products too as Bangladesh’s situation could force buyers to turn to India. Let’s hope the situation gets back to normalcy soon in Bangladesh”