New Delhi. The ongoing turmoil in Bangladesh has given sleepless nights to auto-parts traders in Delhi. Traders in markets like Kashmiri Gate and Karol Bagh who export spare parts to Bangladesh are worried about selling the goods as they fear that they will have to pay for the goods already sent there and the goods which are on the way.
The Chamber of Trade and Industry (CTI) said the same brands of two-wheelers and four-wheelers are sold in India and Bangladesh, making cross-selling in auto parts possible. Goods worth Rs 1,000 crore are exported from Delhi to the neighbouring country every month, but as Brijesh Goyal, national convener of CTI, pointed out, “The current crisis has put the trade at risk, leaving traders unable to decide anything about the future of their business.”
Vishnu Bhargava, former president of the Automotive Parts Merchants Association and a distributor of auto parts for major Indian brands, revealed that Indian brand vehicles are in large numbers in Bangladesh, Nepal and Sri Lanka. Bhargava, who runs a Mahindra auto parts business, told The Times of India, “Our business suffered during the political unrest in Sri Lanka. It took us time to get new orders and now the situation in Bangladesh has increased our concern about losses. We are refusing to place new orders, but what about the orders we have already placed?”
Ajay Gupta, a Karol Bagh-based auto spare parts businessman for 20 years, was equally worried. He claimed that the situation had already become worrisome before the events of the last few days. He said, “In the last two decades, we have not faced such uncertainty as we are facing now. Our recent consignment by road is stuck in Bangladesh at Benapole on the West Bengal border, now we have to pay damage charges to the transport company. Not only this, there have been instances when customers have received goods as per bank information, but there has been no response to our queries on mail on receipt of goods even after internet services were restored in Bangladesh. We can only hope that we do not have to face losses.”
Businessmen worried about the situation in Bangladesh are in touch with exporters in Kolkata, Jaipur and Ludhiana and if the situation remains the same, they will all work together to find a solution. Chandni Chowk MP Praveen Khandelwal claimed that his research team is assessing the impact of the political crisis on the markets. He said, “Not just auto parts, India also supplies coffee, spices and confectionery items to Bangladesh. But at the moment we can only wait and watch. Only after the government is formed there, we can take the matter forward at any level.”
first published : August 9, 2024, 6:38 PM IST
