TNN Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Friday, October 31, 2014 12:45:45 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

BD 5th remittance source of India

By
Published at: 28th-Feb-2014       Readers ( 4330 )   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
  1. 500,000 flee Mosul
  2. Tamaddun Majlish, a socio-cultural organization, honoured legendary journalist Tofazzal Hossain Manik Mia with the Mother Language Award (Posthumous) for his outstanding contribution in the field of journalism. Barrister Mainul Hosein receiving the award from former VC of Dhaka University Prof Emajuddin Ahmed at a function held at the Jatiya Press Club in the city on Friday.
  3. A France-Bangladesh Chamber of Commerce and Industry (CCIFB) team led by Tarek Elba, President of the Chamber met with Md Ghulam Hussain, Chairman of National Board of Revenue Tuesday to discuss and submit recommendations of CCIFB to be considered in the National Budget 2014-2015. Syed Mahmudul Haq, Chairman, Policy Advocacy Committee, M Maksud, Sr Vice President of Bangladesh-German Chamber of Commerce and Industry, Kazi Samiur Rahman, Vice President, Dr Rifat Rashid, Director and Charlotte Ibal, Consultant of the Chamber were present on the occasion.
  4. FIFA World Cup live on GTV, Maasranga TV, BTV
  5. Obama’s Syria policy giving rise to new Hitlers
  6. Readers’ Forum
  7. Rental Power Act may stay for 4 more yrs
  8. 48-hr hartal continues slackly on 2nd day
  9. A hardly bothered JP in parliament
  10. BD 5th remittance source of India
  11. Prova-Shahed’s Last Seven Days
  12. Nushrat Faria as host in new live show
  13. Violence unacceptable: UN Chief
  14. B’Chy, others want fresh election
  15. Mancha plans anti-communal march
  16. Khandaker Mahbub arrested
  17. Eight killed, 150 injured
  18. S Asian civil society urged to work jointly
  19. Noted singers participating the rehearsal of mass rendering anthem at Shilpakala Academy on Friday in connection with the ensuing Independence Day celebration.
  20. Create situation for peaceful talk

Inside The New Nation

Sports »

Prime Minister Sheikh Hasina addressing a meeting with senior officials of the Ministry of Youth and Sports at Bangladesh Secretariat on Thursday.


Editorial »

Dhaka City now muggers’ heaven


WHO blames police for not performing their duties sincerely? The people who oppose the regime and failed to find out any good deed of the government are critical of the police and other law enforcers' deeds. In Bangladesh political culture, police are used as political tools of the ruling elite ...

Entertainment »

Swapney Dekha Rajkonnya


Entertainment Report :Ratul has passed 25 years without love. Now-a-days, while sleeping he finds a beautiful girl in his dream. That girl comes to Ratul’s balcony and also invites him to come to her. Everyday Ratul stands on the balcony but doesn’t say anything. That ‘dream girl’ also likes him. ...

Chittagong »

Chittagong City Awami League President ABM Mohiuddin Chowdhury addressing an anti-hartal rally in Chittagong yesterday.


.

International »

Malala gives $50,000 to rebuild Gaza schools


The Guardian :Malala Yousafzai, the Pakistani education campaigner shot by the Taliban, has donated $50,000 (nearly £31,000) towards the reconstruction of schools in Gaza.The Nobel peace prize winner, speaking after receiving the World Children's Prize for the rights of the child in Marienfred, Sweden, on Wednesday, said the money would ...

Editorial »

Developing entrepreneurs for agro-industries


WITH massive urbanization and industrialization being  part of modern society since the the Industrial Revolution in England, the primitive agro-based society of the past slowly turned into an industrial society. But it resulted in deforestation and brought about climate problems. However, the notion of modernization has changed substantially during the ...

City »

Prime Minister Sheikh Hasina handing over cheque among the families of victims of Rana Plaza collapse and Tazrin Fashion fire incident at her office on Wednesday.


Football »

Team Canada's Emily Zurrer (second from right) fights for control of the ball with team Japan's Mana Iwabuchi, (second from left) as Canada's Kadeisha Buchanan (left) and Japan's Yuika Sagasawa (right) look on during the first half International friendly soccer game in Vancouver, British Columbia on Tuesday.


Entertainment »

Misty Zannat with Anwara


Entertainment Report :She was an actress of TV plays. Now she became an actress of movies. As a heroine, she has debuted her career on September 5 by Shahadat Hossain Liton’s movie Love Station. Bappi was her co-actor in the movie. She is Misty Zannat.By her first acted movie Misty ...

Chittagong »

Vice Chancellor of Bangabandhu Sheikh Mujib Medical University Prof. Dr. Pran Gopal addressing the inaugural session of 4-day long International Science Conference arranged at Chittagong Medical College Auditorium as Chief Guest on Monday .


.

International »

Secular party defeats Islamists in Tunisia election


AP, Tunisia :Tunisia's well-organized Islamists have been defeated in parliamentary elections, paying the price for their turbulent years of power after the Arab Spring that saw the rise of terrorist groups in this North African nation.Voters sought security and stability with familiar faces from Tunisia's more authoritarian past, but the ...

Editorial »

Ministers can't encourage investment: Sharing commission will not do


THE government is going to empower ministers with the authority of approving investment projects costing up to Tk 25 crore under the annual development programme despite opposition from the Planning Ministry officials. It can be seen a good arrangement for sharing commission business. Investments will be made on the assurance ...

Football »

Players of Bangladesh National Women's Football team during their practice session at the BFF Artificial Turf on Tuesday.


Entertainment »

I do it better than a man: Farah Khan


Farah Khan is one of the few female directors who has broken the myth that a woman can’t helm masala movies. The director, who has churned out blockbusters like Main Hoon Naa and Om Shanti Om, says in a ‘sexist country’ she has proved that a woman can do it ...

Chittagong »

CCC Chief Executive Officer Ali Ahmed speaking as Chief Guest at a workshop organised by Homenet Asia Trust 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