Hindu minorities are being continuously attacked in Bangladesh. It has sparked social, political and diplomatic debate across the world, but it has had a very bad impact on the mutual trade between India and Bangladesh. Despite this, traders in India's auto parts industry have found a unique way to protest against it.
The largest market for auto parts in India is Kashmiri Gate Market of Delhi. Considering the environment of Bangladesh, the traders working here have decided to close their business there and stop exporting auto parts from the country. Traders say that their move is a symbol of the displeasure and protest of the business community.
A large number of auto parts are exported to Bangladesh from Delhi's Kashmir Gate Market. The traders here say that now they have decided to stop this export. This step is not just economic but also part of their moral and social responsibility. He believes that it is not right to ignore the injustice being done to Hindus in Bangladesh. This step can put pressure on the Bangladesh government to ensure the safety of minorities and find a permanent solution to this issue.
Vinay Narang, president of the Automotive Parts Merchants Association, said, “Temples of our community were destroyed, Hindu brothers were murdered and inhuman atrocities were done on them. In protest against this, we have decided to completely stop trade with Bangladesh.”
Export of auto parts from India to Bangladesh is an important business activity. Between March 2023 and February 2024, India sent 7,30,597 shipments of auto parts to Bangladesh. According to statistics, auto parts trade takes place on a large scale between India and Bangladesh. Bangladesh spent a total of $89.97 million (about Rs 750 crore) on imports of motor vehicle parts and accessories in FY2023. It is worth noting that Bangladesh sources 90% of its auto parts imports from India.
Bilateral trade between India and Bangladesh in the financial year 2023-24 was approximately US $ 14 billion (approximately Rs 1.18 lakh crore). This includes wheat, cotton, textiles, some varieties of rice, and electricity among the goods exported from India to Bangladesh.
There are about 20,000 shops in Delhi's Kashmiri Gate Auto Parts Market, out of which about 2,000 shops export to Bangladesh. This business is profitable for Delhi traders, while the Bangladeshi market gets affordable and quality auto parts. Bangladesh is dependent on import of auto parts from India for its automobile industry. However, some of that import is also from China and Japan.
If Indian traders stop exporting auto parts to Bangladesh, the automobile industry of Bangladesh may be negatively impacted. This may cause delays in repair and manufacturing of vehicles. This can also cause financial loss for the businessmen of Delhi.
Auto parts are sent from India to Bangladesh mainly by road. Kolkata-Petrapole-Benapole border is prominent in this. Apart from this, goods are also sent to Bangladesh by sea route from Haldia Port of West Bengal. Bangladeshi traders themselves come to buy goods from India.
