India now halts export of vehicle spare parts to Bangladesh

In a protest against the alleged "persecution of minorities" and "ongoing instability," India has temporarily stopped exporting automobile spare parts to Bangladesh. Traders from Delhi's Kashmiri Gate wholesale market have decided not to send these parts to the neighboring country until January 15. As a result, vehicles such as cars, auto-rickshaws, trucks, and public transport in Bangladesh may face significant operational disruptions.

Bangladesh imports 95% of its automobile spare parts, with 90% coming from Kashmiri Gate. The remaining supply is sourced from China and Japan.

Kashmiri Gate is Asia's largest wholesale market for automobile spare parts, exporting to many countries, including Bangladesh. The market also supplies spare parts for vehicles from major international brands at competitive prices. However, the Chamber of Trade and Industry (CTI) has directed the traders to halt exports exclusively to Bangladesh.

CTI Chairman Brijesh Goel, who is also a motor parts trader, stated, "This is the time to stand by Hindus in Bangladesh. We have decided to stop selling vehicle spare parts to Bangladesh for about a month."

According to Goel, the suspension will remain in place until January 15, but the decision could be extended if the situation does not stabilize.

CTI data shows that trade with Bangladesh amounts to approximately ₹1,000 crore monthly. About 4,155 Indian exporters supply spare parts to 7,863 Bangladeshi businesses. The chairman mentioned that 2023-24 has been a record-breaking year in terms of trade volume.

Vinay Narang, president of the Kashmiri Gate Auto Parts and Motor Parts Market Association, added, "In addition to local parts, this market exports components for major companies like Maruti, Hyundai, Honda, Toyota, Tata, Chevrolet, and Volkswagen. Around 20,000 shop owners in the market have collectively decided to support Hindus in Bangladesh. We are prepared to accept reduced profits for a month. After that, we'll reassess the situation and decide on the next steps."