Investigate huge remittance outflow to India

[ito]

It must be those bloody Indian illegal immigrants sending back their pay to poor India.

Now don't joke, Bangladesh is poorest country in the World. If you are so concerned of 'illegal' Indian why do you Jamatis object India fencing the border.

The reality is Bangladesh is illiterate, hence recruit Indians to run your companies and your economy. The remittance must be from those Indians.

 

[my2cents]

It's absolutely true.

There are tens of thousands of middle-to-upper class Indians in BD. Last time I spent a week in Gulshan, probably 1 in 10 apartments were rented by Indian businessmen. There are also quite a lot of Pakistani's there - I personally know a garment factory investor and a Tea company investor from Pak now permanent residents in Dhaka.

There is a ridiculous amount of money to be made in BD but you need money to do it - which is why we attract the upper classes. This is why, although immigrant numbers are lower - the remittance figures are huge.

So, you are saying that these remittances to India are nothing but profit being sent back.

It makes sense because if there are 50000 Indians living in BD, then they all must make at least $10,000 to $15,000 per year- to be able to send $7500 per person, which is very unlikely in my opinion.

Are you OK with other countries investing in your country and making money legally??

 

[Dem!god]

this only shows the quality and efficiency that indians have, and bangladeshi dont..
its remittance, so its legal transfer of money.. that means indians are there on work visa, working for the MNC's and and are been paid for that... indians management quality is world known.. so nothing amazing indians are at there in bangladesh working...
why are bangladeshi crying, if indians stop coming there BD will go back to stone age.. I doubt if there is any capable workforce in bangladesh.

 

[Jaat Rock]

It must be those bloody Indian illegal immigrants sending back their pay to poor India.

The total number of foreign technicians in the garment sector now stands at upwards of 19,000, the majority of whom are Indian, he said.

 

[tahsin]

Bangladeshis, Indians, Pakistanis, Middle Easterners are all of roughly similar intelligence. The IQ levels are very similar, around the 82-83 mark, so to say Bangladeshis cannot do certain jobs and have to hire Indians because of it, is ridiculous. Admittedly, Indians have been exposed to better management styles and have slightly higher technical know-how because of the exposure to more Westernised education, however, that's fast changing, and Bangladesh is catching up. Also, do not forget, Bangladesh is effectively a new country only 4 decades old, even younger than that if you consider that it had to regroup for a decade or two after the independence in 1971. The Bengali Brahmins, in collaboration with the British, made certain Bangladeshi Muslims weren't educated so it would be easier to rule them. And in fact, this lack of education was one reason why Pakistan was able to rule so easily over Bangladesh. Things are changing very fast now, though.

 

[Indian_Patriot]

What u gonna do about it Bangla...Nothing thats what. Hasina is our puppet. She does what we tell her.

 

[Luffy 500]

There r most likely more than 1 million illegal indians in BD doing all sorts of work. Off course these pagans have nothing but ill intent towards BD.

 

[Indian_Patriot]

By the way i have nothing against the people of Bangladesh. I think bengali people are intelligent and Bangladesh has made great strides in the fields of human progress. Heres to wishing a prosperous and peaceful India and Bangladesh.

 

[EasyNow]

So, you are saying that these remittances to India are nothing but profit being sent back.

It makes sense because if there are 50000 Indians living in BD, then they all must make at least $10,000 to $15,000 per year- to be able to send $7500 per person, which is very unlikely in my opinion.

Are you OK with other countries investing in your country and making money legally??

It's not all profit, salaries are a big factor too. For the 19,000 technicians mentioned in the article, the salary remittances you mention are very possible but there are hundreds of Indians on much higher salaries.

Bosch India opened a subsidiary in BD in 2012. With it came an executive team headed by an Indian, comprised mostly of Indians with salaries easily over 20000 USD per annum. Grameen Phone, one of the top ten largest companies in BD worth £billions - has an Indian CEO. In fact, of the top 3 executives, 2 are Indian.

Unfortunately for BD, international companies see India as their regional hub of operations in South Asia. Bosch is a prime example; if a Bangladeshi wants to bring a brand to BD, they usually have to go through the Indian subsidiary - which leads to opportunities for Indians. This is why i laugh to myself when Indian's complain about BDeshi's sucking them dry!

That said, the actual $4B figure is debatable - a good portion of remittance outflow is probably Bdeshi nationals using this route to move black money, but the majority i think is genuine.


Yes i'm ok with foreigners making money legally in BD, as long as they employ local people and pay their taxes. If we don't have the expertise at home, we need to bring it in - simple. This will allow our workforce to learn and reach international standards. I live in the UK, i'd be a hypocrite to deny others the same right in my home country.

 

[Zabaniyah]

Another thing that has been ignored, Bangladesh give very little focus on vocational education. There's huge demand for vocational professions around the globe, and Bangladesh simply isn't tapping that potential.

As for professional development, it can use more support.

 

[my2cents]

It's not all profit, salaries are a big factor too. For the 19,000 technicians mentioned in the article, the salary remittances you mention are very possible but there are hundreds of Indians on much higher salaries.

Bosch India opened a subsidiary in BD in 2012. With it came an executive team headed by an Indian, comprised mostly of Indians with salaries easily over 20000 USD per annum. Grameen Phone, one of the top ten largest companies in BD worth £billions - has an Indian CEO. In fact, of the top 3 executives, 2 are Indian.

Unfortunately for BD, international companies see India as their regional hub of operations in South Asia. Bosch is a prime example; if a Bangladeshi wants to bring a brand to BD, they usually have to go through the Indian subsidiary - which leads to opportunities for Indians. This is why i laugh to myself when Indian's complain about BDeshi's sucking them dry!

That said, the actual $4B figure is debatable - a good portion of remittance outflow is probably Bdeshi nationals using this route to move black money, but the majority i think is genuine.


Yes i'm ok with foreigners making money legally in BD, as long as they employ local people and pay their taxes. If we don't have the expertise at home, we need to bring it in - simple. This will allow our workforce to learn and reach international standards. I live in the UK, i'd be a hypocrite to deny others the same right in my home country.

That Silicon India article has been quoted quite often on PDF without any official bank confirmation. I also dispute the 4 billion dollar figure unless these remittances include the black money sent to offshore accounts by BD nationals.

Indian companies are ready to invest in BD because of your low labor costs and to be close to their markets. Those who are already in your country are mostly in Textiles industries. In most Indian companies that have their subsidiaries outside the country the top tier of executives will be Indian. That is understandable but having 19000 Indian technicians sounds bit high.

 

[TopCat]

That Silicon India article has been quoted quite often on PDF without any official bank confirmation. I also dispute the 4 billion dollar figure unless these remittances include the black money sent to offshore accounts by BD nationals.

Indian companies are ready to invest in BD because of your low labor costs and to be close to their markets. Those who are already in your country are mostly in Textiles industries. In most Indian companies that have their subsidiaries outside the country the top tier of executives will be Indian. That is understandable but having 19000 Indian technicians sounds bit high.

Indian companies cant really compete with local BD companies. So despite many big talks, they usually cant make inroad in BD. For example nano car, probably couple of them sold for free in Dhaka's street only to show India as a joke.
So many Indians are working in formal and informal sector in BD, 4 billion is just a tip of the iceberg and if you add the alimony sent by the BD hindus to their relatives in India.

 

[EasyNow]

That Silicon India article has been quoted quite often on PDF without any official bank confirmation. I also dispute the 4 billion dollar figure unless these remittances include the black money sent to offshore accounts by BD nationals.

Indian companies are ready to invest in BD because of your low labor costs and to be close to their markets. Those who are already in your country are mostly in Textiles industries. In most Indian companies that have their subsidiaries outside the country the top tier of executives will be Indian. That is understandable but having 19000 Indian technicians sounds bit high.

I'm not sure about the source but I think the 19000 technician point is realistic, bear in mind that a Bangladeshi company would only seek out an Indian (with his extra cost, housing needs, language barriers, general unfamiliarity with the terrain) to fill a role if that skill is not available locally. So most of the Indian workers have some technical merits and are on the higher end of the pay-scale.

Contrary to your belief it is not low labour cost that drives Indian investors. almost no Indian -- owned manufacturing is done in Dhaka. it's very difficult for an outsider to exploit local labour, when there are so many Bangladeshi companies who know the area better. It is the local market that Indian companies are really interested in and this is accessed through Indian products and Indian service expertise.

 

[Bombermanx1]

Sorry to say Hindus are not falling over themselves to migrate to Bangladesh for better life or pay,when the labour cost and pay is lesser than India along with persecution of Hindus, infact we see the opposite hindus of Bangladesh and Pakistan are coming in huge numbers to India to seek asylum.
Only an idiot would goto a land where you are persecuted for being a hindu.

All those illegal bangladeshis in India are a fact.Those remittances are due to illegal cattle smuggling ,kerosene and diesel smuggling business done by bangladeshis on border.

India gives subsidized diesel and kersone to Indian population.Kerosene which is around 15 rs.

While kerosene in Bangladesh is 56 taka.
1 Bangladeshi Taka =0.81 Indian Rupee
56 Bangladeshi Taka =45.53 Indian Rupee


see the huge difference in price?
They get cheap kerosene for 15 rs in India and by truckloads smuggle it into Bangladesh and sell it for 56 taka or 45 rs. a net profit of 30 rs or
36 taka=30 Indian Rupee

36.88 Bangladeshi Taka profit
THE INDIAN KEROSENE PRICES IN THIS WEBSITE AND
Data Monitor > Others > Indian Oil Corporation > Price of Kerosene In Metros Cities ( Rs/Litre )
AND COMPARE THIS WITH Bangladeshi prices in this website below you will understand who is profiting from whom?
Petroleum Local Price

India being a big nation can afford subsidized food , kerosene,petrol and diesel which Bangladesh cannot as a smaller nation.
They buy it cheap from India and sell it for high price.Some of the amount is sent back to their illegal bangladeshi agents in India, which might look like 3.7 billion $ but that is due to smuggling resources out of India.

I didn't even mention cattle smuggling , India has the worlds highest cow population.
Also India produces very cheap generic drugs in the world and these are smuggled to Bangladesh and sold at higher prices.

With a unfenced and porous border these illegal bangladeshis come to do smuggling business in India.
In this case it would be like a Mexico complaining about illegal American citizens in Mexico,which we know is the opposite of it.

 

[BanglaBhoot]

Controlling remittance outflow to India

Tayeb Husain


CENTRE for Policy Dialogue (CPD) has recommended that the government should form a committee to investigate the large remittance outflows to India. This remittance is fully legal and is sent by the 500,000 or so Indians who work in Bangladesh.

It is reported that Bangladesh stands 5th among the 15 nations sending remittances to India after UAE, USA, Saudi Arabia and UK. In 2013, remittance from Bangladesh to India was about $ 3.716 billion. Is it not amazing? However, that is the official figure. According to other sources, an almost equal amount, if not more, is sent through hundi and other illegal methods.

We often hear from Indian media and politicians that it is only Bangladeshis who migrate to India and take jobs in that country. They call the illegal immigrants “vote banks,” referring to some political parties that, they say, ignore the problem because of political reasons. Their allegation may be true to some extent, but what about Indians living and earning their bread in Bangladesh? Many Indian citizens are taking jobs in Bangladeshi through foreign companies, NGOs and other legal and illegal businesses. Bangladeshis generally do menial jobs in India and contribute to the economy through hard work in exchange for meagre wages, whereas most Indians are gainfully employed in attractive jobs in Bangladesh, earning handsomely and remitting millions of dollars to India.

People migrate to faraway places for a better life, and there is no harm in it. But the problem is that the Bangladesh government does not have a strict labour policy, or control over migrant labourers. No doubt controlling illegal migrant workers is not possible in a country where administration is weak and there is alleged corruption.

But what about well paid jobs in Bangladesh that foreigners, mostly Indians, take away from Bangladeshis? We have Indians gainfully employed with foreign companies, NGOs, garment sector, trading and almost all branches of business. They also have shops and business houses all over Bangladesh.

Foreigners, mostly Indians, employed in Bangladesh do not do any specialised job but ordinary administrative work in all levels, for which there is no shortage of Bangladeshi candidates. For example, why does a British company need to appoint an Indian as a clerk or a junior level officer when there are many qualified people in the country who can do that job perfectly well? Does not Bangladesh need to control this? But how? I can give examples from Sweden and explain how the country overcomes such problems.

Generally, no job in Sweden is given to a foreigner when a candidate with proper qualification that the job demands is available in the country. However, there are always exceptions for highly qualified jobs. In such cases, any EU citizen (and sometimes anybody) can apply, and the best one is given the job as per the EU directive. Nevertheless, it is normal that the Swedish candidate is favoured most of the times and gets the job. What is most important is that anybody working in Sweden (and in most EU countries) must have work and residence permit. Thus, the government knows how many foreigners work in Sweden and how many of them have residence and work permit. It is a way of checking illegal immigrants and maintaining full control over the job market.

Bangladesh can control its job market by careful planning and introducing “Work and Residence Permit” for foreigners. For example, if an Indian company needs a junior officer let it bring him from India with proper documents indicating that he is an Indian citizen and the company needs the person for a particular skill s/he possess. The company may not bring and hire someone from Singapore or Sri Lanka when such a skilled person is available in Bangladesh. A foreign company has a right to bring and employ people from the mother country, but employing a person from a 3rd country must not be allowed. Thus, Bangladesh can obtain many attractive and well-paid jobs for its citizens. The basic idea of foreign investment is for generating jobs, but if those jobs are taken away by foreigners what is the need for foreign investment?

Controlling foreign workers in Bangladesh is an utmost necessity for protecting Bangladeshi job market for Bangladeshi people. In our economy can we afford to offer jobs to foreigners when we don't have jobs for ourselves? I am not suggesting making Bangladesh an “Iron Curtain” land, but we must do something that can safeguard job interest of our people, especially when the employment situation in the country is so appalling.

Controlling remittance outflow to India