Bangladesh has canceled a ticket tag defence contract worth Rs 180.25 crore with a Kolkata-based public area shipbuilder amid diplomatic ties with India, the company said.
Garden Reach Shipbuilders & Engineers Ltd (GRSE), which works under India’s Ministry of Defence, officially notified the trade exchange on Wednesday. “We want to inform you that the Government of the People’s Republic of Bangladesh has cancelled the order.” The canceled deal concerned the development of an advanced ocean-going tug for Bangladesh.
Why Bangladesh cancel contract with India
The cancellation is broadly visible as a retaliatory response to India’s recent decision to revoke transshipment facilities for Bangladeshi shipment exports to third international locations. This circulates accompanied by debatable feedback made by Bangladesh’s authorities chief marketing consultant. Yunus described India’s northeast as “landlocked” and claimed Dhaka because the “only guardian” of the sea in the location.
In a separate meeting with the Deputy Speaker of Nepal’s House of Representatives, Yunus reiterated the need for a joint economic approach. It concerns India’s northeastern states, Nepal, Bhutan, and Bangladesh. He focus on the significance of regional cooperation in hydropower, healthcare, and connectivity. He said, “We have more benefit together than aside.”
Lose of Rs 180.25 crore big-ticket defence contract
Amid the diplomatic friction, India, on May 18, imposed great regulations on imports of Bangladeshi goods. The regulations also imposed on ready made clothes and processed foods. As per a Directorate General of Foreign Trade (DGFT) notification, no geared-up-made garments from Bangladesh may be allowed into India through Integrated Check Posts (ICPs) in the northeast — a move that reflects trade curbs imposed by Dhaka final month.
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