Last Updated on 06/08/2024 by Arun jain
Even after Sheikh Hasina resigned from the post of Prime Minister and left the country, the situation in Bangladesh is not under control (Bangladesh Crisis). Currently, Bangladesh is under military rule. The situation there is changing rapidly. In such a situation, the situation in Bangladesh can also affect Indian companies (Indian Companies in Bangladesh). From Dabur to Trent, many Indian companies have a stake in Bangladesh as market or supply chain component.
Indian companies that have invested in Bangladesh include Marico, Emami, Dabur, Asian Paints, Pidilite, Godrej, Sun Pharma, Tata Motors and Hero MotoCorp. These companies will be directly and indirectly affected if the crisis worsens.
Beneficial for the textile industry
The unrest in Bangladesh can prove to be an opportunity for India’s textile sector. According to a Business Standard report, India’s textile center Tirupur is expecting a 10 percent growth in orders. Due to the current situation in Bangladesh, the trust of major brands of America and Europe may increase towards India, which will be beneficial for the Indian textile industry.
LIC closed its office
Amid the crisis in Bangladesh, Asia’s largest insurance company Life Insurance Corporation of India (LIC) has closed its office in Bangladesh till August 7. LIC said in a regulatory filing, “Due to the current socio-political situation in Bangladesh, the office of LIC of Bangladesh Limited will remain closed during the period from 05 August 2024 to 07 August 2024.”
Why did this happen in Bangladesh?
The Supreme Court of Bangladesh abolished most of the quotas in government jobs, due to which the students there got angry. 93 percent of government jobs will be based on merit without quota. Meanwhile, rioters have taken over in Bangladesh. Bangladesh is currently under military rule.
Source (PTI) (NDTV) (HINDUSTANTIMES)