Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Tuesday, January 17, 2017 06:59:25 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

BD 5th remittance source of India

By
28th-Feb-2014       Readers ( 11484 )   0 Comments
Comments
Share your thought
Post a comment »
Read all (0) »

DESPITE India's so-called regional superpower status and Bangladesh's tiny economic outlook, one may believe it or not but Bangladesh is now the fifth largest remittance earning source for India. A Bangalore based magazine has disclosed that expatriate Indians working in Bangladesh have successfully drained away US$ 3,716 million alone last year as half a million Indians are now working in Bangladesh; mostly in the readymade garment industry and in NGOs'.
While most Indian media and politicians are continuously making the point that India is inundated by illegal migrants from Bangladesh, the report in Silicon India showed that the reverse is actually true . It tells us that it is not only the richer countries but Bangladesh also which is providing employment to the bulk of Indians and they are sending a overwhelming flow of remittance to their homes. The report mentioned about scores of illegal immigrants from the Indian states of West Bengal, Meghalaya, Assam, Tripura and Mizoram who have entered Bangladesh and joined the job market. The Indian central government's documents also confirmed the fact as per the news report.     
As we see, the World Bank figure showed that India earned the highest value of remittances  in the world. It earns US$ 71 billion annually followed by China which earns $60 billion. It is indeed surprising that Bangladesh rests in the list of India's top remittance sources along with the world's top developed nations. According to descending order of earning, Bangladesh stands fifth among India's top remittance providers only next to UAE, USA, KSA and UK. Last year Bangladesh provided 5 percent of the total remittance earnings of India which had a eight times larger population and a 23 times larger landmass. Estimations suggest that the rising flow of remittance will only exponentially increase in the near future.   
We know in an age of free trade and mobility of capital it is very natural that the two countries with a long shared border and economic potentials will reciprocally share their resources to develop the region. But, it does not take an economist to know that India only believes in one-way traffic and it wants to be at the receiving end. Apart from regular killings, rapes, intimidation and torture of unarmed people on the high rise barbed border, Bangladeshis' are clearly not getting similar treatment from India when it comes about job opportunities or duty free export access into the Indian market. India's exports to Bangladesh are now around $10 billion including remittances while our exports to India now stands at around $600 million. This is definitely not the win-win situation and can only be compared with a colonial trading system.
The breaking of the news by the Indian magazine has come as an eye opener to the nation and we suggest that the government take a review of the situation to apprise the nation of the reality in the ground. We don't know about the employers and the internal police verification system. We don't know how Bangladesh Bank is monitoring transfer of money by Indian expatriates. Some politicians may compromise, but the nation must take hold of its affairs.


0 Comments. Share your thoughts also.
Write a comment
Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Problems of foreign medical students need urgent solution


AROUND 1,200 MBBS students of the University of Science and Technology Chittagong (USTC) face uncertainty, as Bangladesh Medical and Dental Council (BMDC) has refused to register them for the University's Violation of Admission rules, as per a report of a local daily.The USTC, a private institution, admitted around 400 students ...

Cricket »

Kohli, Jadhav centuries help India beat England


AFP, Pune : Skipper Virat Kohli and Kedar Jadhav hit blistering centuries to help India chase down 350 and stun England by three wickets in the first one-day international in Pune on Sunday.Kohli (122), who was leading the limited overs side for the first time, and Jadhav (120) put on ...

Football »

Real Madrid's Toni Kroos, right, and Sevilla's Vicente Iborra challenge for the ball during La Liga soccer match between Real Madrid and Sevilla at the Ramon Sanchez Pizjuan stadium, in Seville, Spain on Sunday.


Entertainment »

Dilruba Sathi passes seven years in her hosting career


Sheikh Arif Bulbon :Viewers’ choice popular host Dilruba Sathi has passed seven years of her career. From that point of view she has been passing ‘Lucky 7’ now. As a host, she started her career through a dance show on Bangladesh Television. Later her hosting in a special programme on ...

Entertainment »

Real-life wedding inside the Bigg Boss 10 house


Bigg Boss 10 is turning to be the most controversial season in the history of the reality show.  According to reports, there is going to be a real life wedding on the show and it will be that of Mona Lisa and  her boyfriend, Vikrant’s. Apparently, Vikrant, along with his ...

City »

A delegation of Bangladesh National Awami Party-Bangladesh NAP led by its Chairman Gebel Rahman Ghani called on President Abdul Hamid at Bangabhaban on Monday aiming at the formation of the new Election Commission.


International »

Trump labels NATO `obsolete` in newspaper interview


AFP, Frankfurt :The NATO alliance is an "obsolete" organisation, US President-elect Donald Trump said in an interview published late on Sunday, complaining that the pact had "not bothered about terrorism"."I said a long time ago that NATO had problems. Number one it was obsolete, because it was designed many, many ...

Editorial »

Stand by the cold hit people


THE entire country is now reeling under severe cold in peak winter with mercury nose-diving in most regions, particularly in the northern districts. The worst sufferers are the poor and homeless who are mercilessly exposed to cold in the capital and elsewhere trying to keep up warm making fire on ...

Cricket »

Pakistan record first ODI win in Australia after 12 years


AFP, Melbourne :Pakistan beat Australia by six wickets in the second one-day international at the Melbourne Cricket Ground on Sunday, their first ODI win on Australian soil for 12 years. The win was also Pakistan's first ODI victory at the MCG since 1985 and levels the five-match series at 1-1. ...

Entertainment »

It`s cold in Lucknow, but Shruti Haasan has not been feeling the chills


After Rocky Handsome (2016), Shruti Haasan veered towards her South projects. The actress is back on the Bollywood scene with Behen Hogi Teri which has Rajkummar Rao as co-star.Shruti has been shooting for the romcom in Lucknow. Even though it is cold, she has not been feeling the chills as ...

City »

Speakers at a discussion on `Role to Eliminate Drug and Militants` organised by Anti-drug Social Movement at Dhaka Reporters Unity on Sunday.


.

International »

Merkel backs multilateral approach as Trump presidency nears


AP, Berlin :German Chancellor Angela Merkel is stressing as she awaits Donald Trump's inauguration that the world's problems need solving in cooperation, rather than by each country individually.Asked at a news conference Saturday about protectionist tendencies in the U.S., Merkel said she will seek a dialogue with the new president."I ...

Editorial »

Rise in parents killing their children is disturbing


BANGLADESH is now witnessing probably the worst time for children to grow up as an increasing number of kids are often being killed by their parents; though the parents are supposed to protect their children. Why it is happening is a big question. Citing Bangladesh Shisu Adhikar Forum (BSAF) a ...

Entertainment »

Karisma is excited to see Sonam as Ranbir`s wife


This weeks Koffee With Karan will have Kareena Kapoor Khan and Sonam Kapoor on the hot seat and by the looks of it, it's going to be one hell of a fun one. When host, Karan Johar quizzed Sonam on whether she would ever consider dating Ranbir Kapoor, Bebo butted ...

Chittagong »

CDA Chairman Abdus Salam speaking as chief guest at meeting of the master plan review of Chittagong City at Bakulia Ward in the city yesterday.


.

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news