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 may also affect Indian companies in Bangladesh. Many Indian companies, from Dabur to Trent, have participation in Bangladesh as a 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. Due to further increase of the crisis, there will be direct and indirect impact on these companies.
Beneficial for textile industry
Due to unrest in Bangladesh, it can prove to be an opportunity for India’s textile sector. According to the report of Business Standard, India’s textile center Tiruppur is expected to see a growth of 10 percent 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 office
Amidst the crisis in Bangladesh, Asia’s largest insurance company Life Insurance Corporation of India (LIC) has closed its office in Bangladesh till August 7. “Due to the prevailing 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,” LIC said in a regulatory filing.
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 government jobs will be based on merit without quota. Meanwhile, miscreants have become dominant in Bangladesh. At present there is military rule in Bangladesh.