Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, February 18, 2019 09:17:54 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

BD 5th remittance source of India

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

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.


Tariff
Add Rate

News Archive

Inside The New Nation

Editorial »

Take hard-line against tax eviction by working foreigners


THE international organisations and development partners working in Bangladesh did not surrender or renew the Customs Passbooks of their 395 non-Bangladeshi staff till the date. The National Board of Revenue had directed them to complete the task within the January 31 deadline, newspapers reported. According to NBR, employees of 21 ...

City »

40 DU students get Sumitomo Corporation Scholarship


City Desk  :A total of 40 under-graduate students from different academic years of Dhaka University (DU) have been awarded Sumitomo Corporation Scholarship of Japan today February 17, 2019 at Nabab Nawab Ali Chowdhury Senate Bhaban of the university.Dhaka University Vice-Chancellor Prof. Dr. Md. Akhtaruzzaman presided over the function while Treasurer ...

Cricket »

Sri Lanka sensation Perera hailed for Test-winning heroics


AFP, Colombo :Kusal Perera became a national hero in Sri Lanka on Sunday after scoring an unbeaten 153 to guide his country to a sensational first Test victory in South Africa.The country's cricket legends and politicians lauded Perera, who has become a linchpin for the ailing national side since fighting ...

International »

Japan PM nominated Trump for Nobel after US request


AFP, Tokyo :Japan's Prime Minister Shinzo Abe nominated US President Donald Trump for the Nobel Peace Prize last autumn after being requested to do so by Washington, a Japanese newspaper reported Sunday.Washington sounded out Tokyo over the possibility of nominating Trump for the prize after his landmark summit with North ...

Entertainment »

Shraddha Kapoor obliges fans amidst a busy schedule


Actress Shraddha Kapoor obliges for some selfies with her fans amidst a busy schedule. The actress was pictured today in London where she is working on her upcoming project Street Dancer 3D. The official Instagram handle of Manav Manglani had recently posted pictures of her taking selfies for her fans ...

Editorial »

Ensure safety for patients in the hospitals by any means


CITY'S Shaheed Suhrawardy Medical College Hospital has started operations after a messy situation caused by fire on Thursday evening. Director of the SSMCH said a total of 1,174 patients, including 72 children, were shifted to other government hospitals after the fire originated at the children's ward on the second floor ...

Sports »

Stunned Japan swimmers back stricken Olympic pin-up Ikee


AFP, Tokyo :Japanese swimmers have vowed to step up their efforts in support of Rikako Ikee, the poster girl for the 2020 Tokyo Olympics who has announced she is suffering from leukaemia.Earlier this week, the 18-year-old swim queen tweeted that she had cut short a training camp in Australia after ...

Football »

Capoue sends Watford into FA Cup quarter-finals at QPR's expense


Etienne Capoue's goal in first-half stoppage time was enough to give Watford a 1-0 win away to Queens Park Rangers (QPR) on Friday that saw the Hornets into the quarter-finals of the FA Cup.Both sides had opportunities in an even opening period that belied the fact that Watford are eighth ...

International »

Turkey has not revealed all about Khashoggi killing : Erdogan


AFP, Ankara :Turkey has not yet revealed all the information it has discovered about the killing of journalist Jamal Khashoggi in the Saudi consulate in Istanbul, President Recep Tayyip Erdogan said Friday."We haven't given all the elements we have at our disposal," the Turkish head of state said during an ...

Entertainment »

Fagun Haway' draws huge acclamation


Entertainment Desk :The premier show of 'Fagun Haway', a movie based on the 1952 Language Movement, draw a large number of film loving people at cinema halls.Actor turned director Tauquir Ahmed directed the movie which was released simultaneously at 52 cinema halls across the country.The story of the movie was ...

City »

The Namaz-e-Janaza of Poet Al Mahmud was held at the Jatiya Press Club on Saturday.


Editorial »

Save the Sunderbans to save the Royal Bengal Tigers


FOR the constant rise in sea levels and rapid climate change, the famous Royal Bengal Tigers of the Sunderbans could be disappeared within 50 years, especially from the Bangladesh part, according to a new study published recently in the journal Science of The Total Environment. A team of Bangladeshi and ...

City »

Members of RAB-2 nabbed one on Friday from Narayanganj for taking money from government officials from different areas in the country impersonating Anti-Corruption Commission official.


.

Cricket »

Feels like it`s a blessing to just be playing again: Steyn


Agency :Dale Steyn, the South African mainstay, continued to impress on his comeback trail, as he bowled at high pace and picked up four wickets over a long spell on Day 2 of the first Test of the two-match series versus Sri Lanka in Durban.The veteran fast bowler bowled at ...

Entertainment »

Shanta Jahan feels comfortable in hosting


Sheikh Arif Bulbon :Popular host of present time Shanta Jahan has to be engaged with hosting round the year in and outside the country in different stage shows and TV programmes. Besides hosting, she has more identities. She is also a model and TV actress. But she always feels comfortable ...

 
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