Kathmandu. Amid rising trade tensions between India and Bangladesh, the Indian government has taken a big decision. This decision has come as a big shock to Bangladesh.
India has banned the import of jute and related fiber products from Bangladesh on most routes with immediate effect. However, the entry of Bangladeshi jute will continue only from one Nhava Shewa port in Maharashtra. The Government of India has said that this step has been taken keeping in mind the prevention of unfair trade and protection of the domestic jute industry.
The Directorate General of Foreign Trade (DGFT), under india’s commerce ministry, issued the order late friday night. According to PTI, this decision includes all land routes and ports across India. Which has effectively banned the import of Bangladeshi jute products other than Nhava Shewa.
Under the South Asian Free Trade Zone (SAFTA), Bangladeshi jute has long enjoyed duty-free access to Indian markets.
According to officials concerned with the ban, dumped and subsidized imports of jute products from Bangladesh, especially yarn, fibre, are adversely affecting the Indian jute sector. “In order to protect the interests of the domestic jute industry and to prevent unfair trade tactics adopted by Bangladeshi exporters dumping in this manner, it has been decided to ban all land routes and ports in India except Nhava Shewa for Bangladeshi jute imports,” they said. – Agency
