Saturday, November 17, 2018

Report on remittance outflow from Bangladesh to India ‘totally wrong’: Shringla

  • Senior Correspondent bdnews24.com
    Published: 2018-09-12 22:22:07 BdST

bdnews24

The report that Bangladesh is the fourth largest remittance source for India is “totally wrong”, India's top diplomat in Dhaka says.

High Commissioner Harsh Vardhan Shringla, speaking at the inauguration of an expo in Dhaka on Wednesday, also urged the FBCCI president to share the source of the data that he cited.

Earlier, speaking at that event, Md Shafiul Islam Mohiuddin, president of the apex business body, said: “Bangladesh is the fourth largest source of Indian remittance and we are proud of it.”

He made the assertion while highlighting the economic and trade relations with India

There have been some social media posts about the outflow of remittance in recent times.

“The information of Mr Mohiuddin about the remittance inflow to India from Bangladesh is totally wrong,” the high commissioner retorted during his speech.

“I don’t know from where you get this information. If you have available data please do share it with the High Commission of India,” Shringla said.

Recently, a website futurestartup.com reported that Bangladesh was the 5th largest remittance source for India with its expatriates transferring $4.08 billion back home in 2016.

It claimed to have sourced this information from an infographic prepared by Pew Research Centre based on World Bank Remittance Data.

But according to information available with Pew Research Centre, Bangladesh is not the fifth largest source of inward remittance for India and the flow of remittance is the other way around.

 According to the Pew Research, the UAE, US, Saudi Arabia, Kuwait, Qatar, UK, Oman, Nepal, Canada, and Australia were the top ten countries from where remittance was sent to India in 2016.

However, according to that website, India topped the list of remittance-earning countries for Bangladesh in 2016, followed by Saudi Arabia, UAE, Kuwait, the UK, the US, Qatar and Oman.

The CEMS Global and CEMS Bangladesh organsied the 19th Textech Bangladesh 2018, the 14th Dhaka International Yarn & Fabric Show 2018 and the 33rd Dye+Chem Bangladesh 2018 at the Bangabandhu International Convention Centre in Dhaka.

Speaker of the parliament Shirin Sharmin Chaudhury was also present.