Why did Bangladesh suspend yarn imports from India through land ports

Bangladesh Halts Indian Yarn Imports via Land Ports Amid Smuggling Concerns

Move : Bangladesh has suspended yarn imports from India through land ports (such as Benapole, Bhomra, Sonamsajid etc.).

Reason : The domestic yarn industry was suffering losses due to cheap Indian yarn.

Background :

* India recently withdrew transshipment facility for Bangladesh.

* In February, Bangladesh textile mill owners and the Tariff Commission had sought action against cheap yarn.

* Allegation: Yarn imported from India comes cheaper and often at lower declared prices, affecting the domestic yarn industry.

Impact:

* Domestic yarn usage will be boosted.

* But this may lead to raw material costs and procurement delays in the textile industry.

* This is not the first time: Bangladesh has previously taken steps to reduce dependence on India for products like potatoes and onions.

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