[🇧🇩] How Is Restricting Trade and Visas to Bangladeshis Affecting India?

[Saif]

Date of Event: Jun 23, 2025

Source: https://www.youtube.com/watch?v=yZxVJl1emdY&t=2s

If trade between Bangladesh and India hampers, it will have deleterious effect on Indian economy because India exports to Bangladesh is over $13 billion whereas imports only $1.8 billion. I hope the Indian media realizes that India depends on Bangladesh to boost its trade in South Asia and stops propaganda against Bangladesh.

 

[Saif]

The GoB should stop buying cotton from a hostile country like India. We have other friendly countries who are willing to sell cottons to us. The West African countries collectively supply 1.9 million bales, 41% of Bangladesh's total import. As a single country Brazil emerged as the major supplier of cotton to Bangladesh. Brazil exports 970487 bales which is 20% of the market share. Whereas India exports 887600 bales which is 19% of the total market share. Bangladesh imports $15 billion worth of products from India and India imports just $1.8 billion worth of products from Bangladesh. If we impose a trade embargo on India, they will suffer because we are the largest export market for India in South Asia.

 

[Saif]

Use of Bangladeshi credit cards in India sees steep 73pc decline

The steady decline in credit card transactions by Bangladeshi citizens in India, first observed during the July Uprising last year, has grown more pronounced. In February, India dropped to sixth place among foreign destinations, with transactions plummeting 73.15 per cent compared to the same peri

thefinancialexpress.com.bd

Use of Bangladeshi credit cards in India sees steep 73pc decline

bdnews24.com
Published :
Apr 19, 2025 09:33
Updated :
Apr 19, 2025 09:33

The steady decline in credit card transactions by Bangladeshi citizens in India, first observed during the July Uprising last year, has grown more pronounced.

In February, India dropped to sixth place among foreign destinations, with transactions plummeting 73.15 per cent compared to the same period in the previous year.

As in previous months, the United States remains the top destination for Bangladeshi credit card spending.

Thailand, Singapore, Malaysia, and the United Kingdom follow.

These findings were drawn from a monthly report issued by Bangladesh Bank, titled “An Overview of Credit Card Usage Pattern Within and Outside Bangladesh.”Local events

According to the report, Bangladeshis spent Tk 3.83 billion abroad using credit cards in February of this year.

The figure was Tk 4.45 billion in January.

This represents a month-to-month decrease of 13.93 per cent in foreign spending via credit cards.

In contrast, Bangladeshis spent Tk 4.99 billion abroad through credit cards in February 2024.

Among all foreign destinations, the highest amount was spent in the United States in February this year—Tk 520 million.

That figure was Tk 680 million in January.

Thailand ranked second, where Bangladeshis spent Tk 460 million in February.

In January, they spent Tk 640 million.

Singapore saw an increase in credit card spending by Bangladeshis in February, with expenditures rising by Tk 10 million to a total of Tk 390 million.

Malaysia, however, witnessed a decline.

Bangladeshis spent Tk 300 million there in February, down from Tk 350 million in January. As such, the country has secured the fourth position.

The United Kingdom matched Malaysia in February, with Bangladeshi credit card spending totalling Tk 300 million, compared to Tk 330 million in January.

India, now in sixth place, saw spending by Bangladeshi citizens fall to Tk 290 million in February.

In January, the figure stood at Tk 320 million.

This marks a dramatic shift from a year ago, when Bangladeshis spent more than three times that amount in India using credit cards.

In February 2024, the total reached Tk 1.08 billion.

Bangladesh Bank, which began publishing this data in 2023, had shown India as the top destination for Bangladeshi credit card usage.Local events

The United States, Thailand, Singapore, and Malaysia had trailed behind.

That pattern held steady until July 2024.

India imposed visa restrictions following the July Uprising that led to the ousting of the Awami League government.

As a result, travel from Bangladesh to India has fallen significantly, triggering a drop in credit card usage in the neighbouring country.

In July of last year, Bangladeshis spent Tk 730 million on credit cards in India.

The month prior, in June, the figure was even higher at Tk 920 million.

A senior official at Bangladesh Bank, speaking to bdnews24.com, confirmed that travel to India by Bangladeshi citizens has decreased since the change in government in August.Local events

He added that earlier data consistently showed India as the top location for credit card transactions by Bangladeshis abroad.

According to him, recent patterns indicate that Bangladeshis are now opting more for destinations such as Singapore, Malaysia, and Thailand instead of India.

The central bank’s report also includes data on foreign nationals using credit cards while visiting Bangladesh.

In February, foreign citizens spent Tk 2.68 billion in Bangladesh through credit card transactions.

That figure stood at Tk 2.52 billion in January.

This marks a 6.35 per cent increase in foreign spending within Bangladesh over a single month.

Here too, the United States ranks first.Local events

American citizens spent Tk 880 million in Bangladesh.

The United Kingdom follows, with its citizens spending Tk 270 million.

India comes in third, with Indian nationals spending Tk 160 million in Bangladesh using credit cards.​

 

[Saif]

কলকাতায় বাংলাদেশি নেই, না খেয়ে মরার দশা অনেকের (Many businesses in Kolkata have just winded-up due to the absence of Bangladeshi tourists. It is quite evident that India's healthcare sector, transportation, clothing industry and hotel business are heavily dependent on Bangladesh.)

 

[Saif]

The Indian businessmen are lamenting for Bangladeshi tourists. They say their businesses are doomed. Without Bangladeshi tourists they cannot survive.

 

[Saif]

Bangladeshis’ credit card spending drops in India

Credit card spending by Bangladeshis in India has been falling, while such expenditures in USA, Thailand and Singapore have been rising, according to central bank data.

www.newagebd.net

Bangladeshis’ credit card spending drops in India
Staff Correspondent 16 February, 2025, 22:47

A file photo shows a salesperson swiping credit card of a customer through a POS machine. | New Age photo New age fashion

Credit card spending by Bangladeshis in India has been falling, while such expenditures in USA, Thailand and Singapore have been rising, according to central bank data.

Industry insiders attribute this shift to India’s restricted visa issuance, which has reduced the number of Bangladeshi patients and tourists visiting the country.

In December 2024, Bangladeshi credit card spending in India fell to Tk 40 crore from Tk 47.2 crore in November.

In contrast, Thailand and Singapore saw substantial increases.

Spending in Thailand reached Tk 64.8 crore in December, up from Tk 42 crore in September, making it the second-largest destination for Bangladeshi credit card transactions abroad.

Similarly, spending in Singapore rose to Tk 41.2 crore in December from Tk 30 crore in September.

Historically, India had been the top destination for Bangladeshi credit card spending abroad. From March 2023 to June 2024, India consistently held the top spot.

However, with the student quota reform protests in July—eventually turning into the movement that led to the fall of the Awami League-led government on August 5—the United States overtook India as the leading destination.

In July 2024, Bangladeshis spent Tk 79 crore in the USA, surpassing India’s Tk 73.2 crore.

By December 2024, the USA maintained the top position with Tk 74.3 crore in transactions, followed by Thailand (Tk 64.8 crore), Singapore (Tk 41.2 crore), and India (Tk 40 crore).

India’s share of total overseas credit card spending by Bangladeshis dropped from 19.95 per cent in December 2023 to just 8.13 per cent in December 2024.

India has traditionally been the most popular outbound destination for Bangladeshis, accounting for around 40 per cent of total travellers due to cultural ties, proximity, and easy visa access.

Following the political transition in August and the formation of the interim government, India scaled down its visa operations in Bangladesh, approving only medical and emergency cases under certain conditions.

As a result, many Bangladeshis seeking medical treatment or travel options have shifted to Thailand, Malaysia, and Singapore.

Tourists who previously visited Kolkata are now opting Thailand, Singapore, and Nepal instead.

Meanwhile, domestic credit card transactions in Bangladesh rose by 15.10 per cent in December, reaching Tk 3,215 crore from Tk 2,793 crore in November.

International credit card transactions also increased by 13.98 per cent, amounting to Tk 491.5 crore in December compared to Tk 431.2 crore in November.

Additionally, transactions involving foreign-issued credit cards used within Bangladesh saw an 18.90 per cent rise, climbing to Tk 240.9 crore in December from Tk 202.6 crore in November.​

 

[Saif]

কলকাতায় বাংলাদেশি পর্যটকের অভাবে দুরাবস্থা (Kolkata businesses are facing severe hardship due to the absence of Bangladeshi tourists. Indian business people are saying that at least 75% business has been reduced due to the lack of Bangladeshi tourists.)

 

[Saif]

Bangladesh: India’s Best-Kept Economic Secret