The Directorate General of Foreign Trade (DGFT) yesterday announced new port restrictions on the import of certain goods from Bangladesh to India. Sources said land port restrictions imposed by India on select exports from Bangladesh to the Northeast are expected to restore equality in the relationship.
While India had earlier allowed all exports from Bangladesh without restrictions, the transit and market access to the North East had been restricted by Bangladesh. Sources added that this measure by India restores equal market access for both countries. They said that the relationship with Bangladesh will be on reciprocal terms. Restriction of readymade garment imports from Bangladesh to only two seaports – Nhava Sheva and Kolkata – is a reciprocal measure to Bangladesh imposing similar trade restrictions on Indian yarn and rice.
Sources in the External Affairs Ministry stressed that Bangladesh needs to realise that it cannot cherry-pick terms of bilateral trade solely for its benefit or assume the North East is a captive market for its exports while denying it market access and transit.
As underlined by Prime Minister Narendra Modi, the North East is integral to BIMSTEC. The equal market space now available in the resource-rich North East is expected to give a fillip to manufacturing and entrepreneurship in the region under the Atmanirbhar Bharat schemes and policies.