ANGLADESH'S economy is in a rapid nosedive, with over a million people becoming unemployed since August 5. Numerous commercial and industrial establishments are shutting down due to an acute liquidity crisis. This hampers entrepreneurs from opening letters of credit to import essential raw materials and other items required to sustain their businesses.
Meanwhile, dozens of 'buying houses' that coordinated the procurement of readymade garments from local factories for large buyersâmostly in the United States, Britain, and EU nationsâhave closed their offices. The worsening situation is primarily driven by mob anarchy, rampant extortion, threats, intimidation, and a hostile environment that discourages foreign nationals, particularly Indians, from remaining in the country.
Analysts warn Bangladesh is heading toward an alarming economic collapse. A significant segment of its population could face acute famine, while most of the 6.5 million workers in the country's garments sectorâa key economic backboneârisk losing their jobs. International buyers are already shifting their orders to alternative sources due to the growing influence of extremist groups like Al-Qaeda, Islamic State, Hizb Ut-Tahrir and Hefazat-e-Islam. Thousands of Quranic madrasas in Bangladesh, considered breeding grounds for jihadists, further exacerbate the issue. These institutions are heavily influenced by anti-Semitism, jihadism, and Hindu hatred.
Given the troubling scenario, geopolitical analysts suggest Bangladesh, once seen as a rising economic star in Asia, is on the verge of becoming another Libya, Iraq, or Pakistan. The rise of religious extremism and state-sponsored violence may make the country a target for terrorist attacks.
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We expect 2025 to be a strong year for us in India: Toyota
AT a time when most automakers are grappling with sluggish demand, Toyota Kirloskar Motor (TKM) is achieving impressive double-digit sales growth each month. This success is driven by its strong SUV portfolio and the strategic partnership between its parent company, Toyota Motor Corporation, and Suzuki Motor Corporation. The Japanese automaker is set to surpass the 3 lakh annual sales milestone in the financial year 2025 and expects this robust growth to continue into the next fiscal year. Unlike other carmakers focusing heavily on electrification, TKM has adopted a unique strategy by offering a broader range of green powertrain options, emphasizing its ultimate goal of reducing carbon emissions. In an interaction with TNIE's Arshad Khan, Vikram Gulati - Country Head of TKM and Sabari Manohar - Vice President of Sales at TKM discuss Toyota's growth in India, their approach towards different powertrains and investments by the company. Edited excerpts:
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