Gujarati traders' Rs 1,200cr stuck

Reactive dyes, chemicals, pigment paste, knits, man-made textiles, APIs and tiles among major exports from Gujarat; traders fear Letter of Credits issued by Bangladesh banks may not be honoured due to anti-India sentiment

Civil unrest in Bangladesh has come in as a business shock for Gujarati traders and businessmen exporting goods to the neighbouring country. As per one estimate, local traders' Rs 1,200 crore payment is stuck due to the violence and stalling of trade between the two countries after PM Sheikh Hasina was forced to quit by the Army following widespread protests against her policies.

Reactive dyes, chemicals, pigment paste, knits, man-made textiles, APIs, medicines and tiles are among major exports from Gujarat MSMEs to Bangladesh. Local traders fear Letter of Credits issued by Bangladesh banks may not be honoured due to the prevailing anti-India sentiment there.