India's exports to Bangladesh have decreased, the country is worried about capital shortage
September 19, 20241 Min Read
International Desk: India's exports to Bangladesh have decreased at a huge rate. Exports fell by 28 percent in August alone. The Indian Express reported these information on the statistics of the Ministry of Commerce and Industry of India.

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According to the Indian media, India exported goods worth 68 million 10 million dollars to Bangladesh last month. However, in August last year, its amount was 943 million dollars. Mainly due to the student movement and conflict in Bangladesh, the foreign exchange crisis has become deeper.

However, credit rating agency CRISIL says the recent events in Bangladesh have not had much impact on India's trade. But if the instability in the country persists, it could lead to revenue and working capital shortages for some of India's export-oriented industries, the agency also warned.

India exports the most cotton to Bangladesh. However, India's cotton exports fell by nearly 10 percent last month. Cotton exports in August were $100 million. Although the country exported 111 million dollars in August last year.

Apart from this, the impact of the decrease in the purchase orders of garment exports to Bangladesh has affected the Indian textile industry. India exports raw materials of garment industry to Bangladesh.

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According to CRISIL, there will not be a major impact on the credit quality of India's corporate sector in the near term. However, the organization also thinks that it will be necessary to keep an eye on this issue and where the value of Bangladeshi money stands.