India hinted at relaxing the ban on onion export after Bangladesh Prime Minister Sheikh Hasina’s jibe on the inconvenience it has caused.
“What Prime Minister Sheikh Hasina has said about onions has come to our attention. We are looking into how we can alleviate her concern and accommodate it,” said Indian foreign ministry spokesperson Raveesh Kumar.
He told the media that the foreign ministry has already started discussions with the Indian commerce ministry on whether the ban on onion export can be relaxed a little.
On Friday, while addressing the India-Bangladesh Business Forum in New Delhi, Hasina categorically expressed her dissatisfaction over India’s sudden decision to ban export of onion which has resulted in skyrocketing of the price of the bulb in her country.
“Bangladesh was taken by surprise,” she said.
Switching to Hindi briefly from her speech in English at the India-Bangladesh Business Forum, she said Bangladesh has been inconvenienced by rising price of onion following the ban on export by India.
She said had India informed Bangladesh in advance about the ban, Dhaka could have made arrangements for importing onion from some other countries.
“We have honoured the LCs (letters of credit) that were opened for onion export to Bangladesh,” Raveesh Kumar said, adding that the shipments were already on the way.
On Friday Hasina in a light-hearted manner while addressing an audience said, “We have been slightly inconvenienced with the ban on the onion. I don't know why you stopped this! If you had given a notice to us, we could have gotten it from somewhere else. I have instructed my cook not to put onion while preparing food. If you want to do such a thing, then do let us know beforehand.”
On Sept 29, India banned exports of onion to increase availability of the commodity in the domestic market and contain spiralling prices.
Further talking to enhancing trade and investments between the two countries, she said huge potential exists in Bangladesh for Indian business community in different sectors.
Hasina said that Bangladesh has the most liberal investment policy in South Asia, and it includes protection of foreign investment by law; generous tax holiday; concessionary duty on import of machinery; unrestricted exit policy; full repatriation of dividend and capital on exit, to name a few.
We are in the process of establishing 100 Special Economic Zones. About a dozen of them are ready with four allotments to three countries. Bangladesh has offered three zones for Indian investors at Mongla, Bheramara and Mirsarai. Substantial investment from Indian investors in these three Indian Economic Zones in Bangladesh would help broaden our exportable base, PTI quoted her as saying.
