Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, December 17, 2018 05:32:43 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter
BREAKING NEWS:

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

Cricket »

Sri Lanka 275-9 at stumps on day 1, 1st Test vs New Zealand


AP, New Zealand :Tim Southee took 5-67 as New Zealand exploited an influential toss to contain Sri Lanka to 275-9 Saturday on the first day of the first cricket Test at the Basin Reserve.A late unbeaten half century by wicketkeeper Niroshan Dickwella helped swing the day a little in Sri ...

Football »

Salah retains BBC African Footballer of the Year award


Liverpool and Egypt striker Mohamed Salah has capped a sparkling 2018 for club and country by winning the prestigious BBC African Footballer of the Year Award for the second time in a row."It's a great feeling to win again. I'm happy and I would like to win it also next ...

Entertainment »

Soundarya Sharma is going to have an exceptional time this festive season


Actress Soundarya Sharma who made her stellar debut in Ranchi Diaries, a Comedy thriller film, and got a thumbs up from the critics and audience and awarded as the ‘Best Debutante’ at Jharkhand international film festival 2018. She was nominated for the ‘Best Female Debutante’ by Zee Cine Awards 2018 ...

Entertainment »

Ishana in four plays under same director’s direction


Sheikh Arif Bulbon :Popular TV actress of present time Ishana Khan has worked in four faction plays under same director's direction. She has finished shooting of these four plays under Satirtho Rahman Rubel’s direction. Shooting of these plays took place in Darjeeling from November last week to December first week. ...

Editorial »

No room for self-satisfaction, success needed in other fields too


THE nation celebrates the 48th Victory Day today amid festivity. Today, the nation will remember its glorious historical achievement earned through a nine-month war against Pakistan Occupation Forces in 1971. The nation will recall today, Bangladesh was born as an independent country under the leadership of Father of the Nation ...

International »

Australia recognises west Jerusalem as capital of Israel


Australia now recognises west Jerusalem as Israel's capital, Prime Minister Scott Morrison said Saturday, but a contentious embassy shift from Tel Aviv will not occur until a peace settlement is achieved.Canberra became one of just a few governments around the world to follow US President Donald Trump's lead and recognise ...

International »

Trump taps budget head Mulvaney as acting chief of staff


Donald Trump announced Friday that his budget director Mick Mulvaney will step in as acting chief of staff to replace John Kelly - amid indications the president is struggling to fill the key post.Trump, whose presidency is increasingly embroiled in legal troubles, announced earlier this month that Kelly, a former ...

City »

BNP candidate of Dhaka-8 constituency Mirza Abbas speaking at a prèss conference at his residence in the city on Saturday in protest against attack on his electioneering in the city's Segunbagicha area.


Entertainment »

Mim`s new movie Thai Curry


Sheikh Arif Bulbon :End of this year is becoming something new for the National Film Award winner actress Bidya Sinha Saha Mim. At the end of this year, she has started shooting of a new movie. Now she is staying in Bangkok to take part in shooting of the movie. ...

Business & Economy »

In presence of Mohammed Monirul Moula, AMD of Islami Bank Bangladesh Limited, Abu Reza Md. Yeahia, DMD of the Bank and Dr. M. Easin Ali, Chairman of Dhaka City Physiotherapy Hospital, exchanging an agreement signing document at the Banks head office in the city on Wednesday. Under the deal, VISA and Khidmah Card holders of the Bank will get attractive discount in treatment services of the Hospital. Top officials from both the organizations were also present.


.

Cricket »

Malinga named captain for ODI, T20I series against New Zealand


Sri Lanka pacer Lasith Malinga, who until recently was out of favour with the selectors, has been appointed as the captain for the upcoming ODI and T20I series against New Zealand. He replaces Dinesh Chandimal, who led the side in the recently concluded ODI series and Thisara Perera, who captained ...

International »

US Senate votes to end support for Saudi-led Yemen war, blasts crown prince


The US Senate dealt President Donald Trump a double blow over Saudi Arabia on Thursday, approving a resolution to end US military support for Riyadh's war in Yemen, and another holding the Saudi crown prince responsible for the murder of Jamal Khashoggi.Though largely symbolic, the two bipartisan measures deliver a ...

International »

Islamic State not defeated, just transforming: Experts


Even as the last pockets of resistance in eastern Syria hold their ground, the Islamic State group is shapeshifting into a new, but no less dangerous, underground form, experts warn.Also known as ISIS, or the Islamic State in Iraq and Syria, the group had long been ready to cede the ...

Editorial »

Time to avail the golden opportunity to explore Japan`s rich market


BANGLADESH wants to explore the potentials of sending skilled workers to Japan as the country is likely to open its job market for foreign workers. The matter is likely to be raised at Foreign Secretary-level talks scheduled to be held on December 17 in Tokyo.Foreign Secretary M Shahidul Haque and ...

Editorial »

Involve the youths in decision making process


A RECENT survey rightly indicated that unified and quality education system for all is imperative to turn today's youth into skilled manpower for future Bangladesh. Ahead of the 11th National Election, the survey findings clearly echoed the youth voice who emphasised meritorious teacher recruitment at primary school to tertiary level ...

 
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