THIRUVANANTHAPURAM: Amid the ongoing political unrest in Bangladesh, several Kerala businessmen with trade interests in the country are keeping their fingers crossed. Bangladesh, known for being one of the largest manufacturers of garments, had exported garments worth $580 million to India in the first eight months of the fiscal year ending June 2024. The entrepreneurs have expressed concerns regarding the political instability affecting their business operations in Bangladesh.
Radhakrishnan Mangattu, who directly sources garments and apparel from Bangladesh, said that the factories he regularly deals with have suspended their operations for the past two months due to the deteriorating law and order conditions. “The street where the factories are located witnessed political disturbances, leading to the suspension of operations. Fortunately, our office and warehouses are safe. That’s a huge relief,” he said.
While the factories in Chittagong, which Radhakrishnan collaborates with, have been less affected by street violence, he remains optimistic that they will soon resume production. “My contacts in Chittagong and other areas say that the incidents of violence have significantly decreased since Sheikh Hasina stepped down as prime minister,” he said.
The anti-government protests in Bangladesh, which resulted in over 400 casualties, have raised concerns about the prolonged impact on commercial interests amid the ongoing unrest. However, Radhakrishnan said that his business contacts in Bangladesh have assured him that there is a dedicated effort to safeguard commercial interests during the political turmoil. They conveyed that business establishments are relatively unaffected by the unrest and assured him that the situation will improve soon.
Another businessman, operating from Bengaluru, expressed apprehension about the potential adverse effects on those heavily invested in the garments industry in Bangladesh if the unrest persists. “There are business contracts that we have to honour. If normalcy is not restored soon, production will get delayed, resulting in huge losses,” he said.
While only a few Keralites are directly involved in business with Bangladesh, a significant number of traders purchase imported Bangladeshi garments from Kolkata or Delhi and sell them to retailers.
