Tripura's Trade Slump: The Decline with Bangladesh

Tripura's bilateral trade with Bangladesh has declined since the 2022-23 fiscal year, mainly due to reduced exports from Tripura. The trade reduced from Rs 1008.40 crore in 2021-22 to Rs 715.98 crore in 2023-24. The Tripura government is working to improve Land Customs Stations to boost trade.

Tripura Industries Minister Santana Chakma addressed the Assembly on Thursday, highlighting a significant decline in the state's bilateral trade with Bangladesh starting from the 2022-23 fiscal year.

The primary cause of the trade slump is notably a reduction in exports from Tripura to Bangladesh, with trade volumes falling from Rs 1008.40 crore in 2021-22 to Rs 715.98 crore during 2023-24. According to a document presented in the Assembly, exports to Bangladesh drastically reduced from Rs 121.37 crore in 2022-23 to Rs 12.31 crore in 2023-24.

In contrast, Bangladesh continues to export goods such as fish, cement, and PVC products, albeit with its export values remaining steady. In response to the current situation, Chakma stated that the Tripura government is actively working to enhance the functionality of its nine Land Customs Stations, aiming to restore and potentially increase bilateral trade activities with Bangladesh.

(With inputs from agencies.)