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– Photo : Amar Ujala
Expansion
The coup in Bangladesh has also affected the business of UP. More than 140 products including rice, agricultural products, agricultural equipment, leather products, adhesives, engineering goods, e-rickshaws etc. are exported from UP. Due to the violence, payment of about Rs 700 crore has been stuck. A large number of trucks loaded with orders are standing at the border. More than 40 businessmen from UP have expansion units in Bangladesh. Most of them are in leather and textile. According to businessmen, the situation is worrying and it is difficult to say when the situation will become normal. In view of the violence, the employees are staying in the units.
Bangladesh is a good market for Uttar Pradesh. According to the UP chapter of Federation of Indian Export Organizations, the trade between UP and Bangladesh is more than 2500 crores. Other agricultural products including rice are exported from here. Leather and engineering goods, adhesive tape poly film, soda ash are supplied. E-rickshaws and textile products are exported from West UP. More than 6000 commodities are exported from India. Apart from clothes, a limited amount of spices and edible oil are exported from UP. This includes petroleum products, cotton cloth, wheat and wheat products, spices, vegetables, sugar, fruits, edible oil and other products.
According to the association, exports have stopped directly. Due to this, payments to exporters have stopped. The entire shipment is done by road through the three borders of Sona Masjid, Benapole and Petra Pol. Trucks loaded with orders are stuck on this side due to not being able to cross the border.
JK Cement CEO Madhav Singhania says that the coup in Bangladesh will affect India’s business, but to know how much it will affect, we will have to wait a little. Being a neighbouring country, political stability and peace is very important. Bangladesh has made rapid progress in the textile and leather sector. Here too, both these sectors can be affected.
Red Tape director Shuja Mirza says that Bangladesh has a strong hold in the textile sector. Textile companies from all over the world, including India, are in Bangladesh. The effect of political instability will be visible on business. Mirza’s textile unit is in Bangladesh. Products worth more than Rs 1000 crore come to Red Tape. All are safe.
IIA National President Neeraj Singhal says that a large quantity of textile sector products go to Bangladesh from Ghaziabad and Noida. There is a good supply of agricultural products and agricultural equipment. Engineering products go from UP. Apart from this, there is exchange of dozens of different products. Due to the current situation, trade has stopped. Payments are stuck. Orders are stuck at the border.