Fashion
China agrees in principle to resume trade via India’s HP state border
The trade route had been suspended in 2020 following the COVID-19 outbreak.
China agreed in principle to reopen the Shipki-La pass in Himachal Pradesh’s (HP) Kinnaur district for cross-border trade with India during the recent visit of Chinese foreign minister Wang Yi, the HP government recently said.
The trade route had been suspended in 2020 following the COVID-19 outbreak.
The state would now approach the central commerce ministry for completing the codal formalities.
Indian external affairs minister S Jaishankar informed state chief minister Thakur Sukhvinder Singh Sukhu that New Delhi had opened discussions with Beijing for restoring border trade through all three designated points—Shipki-La in Himachal Pradesh, Lipulekh in Uttarakhand and Nathu La in Sikkim, a news agency reported.
“The Himachal government’s consistent efforts to resume trade with China through Shipki-La (Kinnaur) have yielded encouraging results. The government of China has agreed in principle to the proposal during the recent visit of Chinese foreign minister Wang Yi to India,” the statement from the state government said.
The chief minister had written to the Indian government urging revival of the Indo-Tibetan trade route, after which the matter was formally taken up with China, leading to a consensus on restarting the route, it added.
The state would now approach the central commerce ministry for completing the codal formalities.
Fibre2Fashion News Desk (DS)
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Old Navy has introduced Little Navy, a new collection of newborn essentials designed to simplify early-stage shopping and gifting.
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Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
They said bank audit procedures have stalled numerous applications. Around Tk 57 billion in incentives for the textile and apparel sector remain unsettled in fiscal 2025-26, creating acute liquidity pressure and affecting exports.
Bangladesh trade body BGMEA representatives recently met Finance Minister Amir Khasru Mahmud Chowdhury and urged him to release pending cash incentives without waiting for quarterly release schedules and simplify the disbursement process.
They said bank audit procedures have stalled numerous applications.
They also raised concerns over loan rescheduling and working capital.
The authorities were requested to disburse incentives upon application submission instead of waiting for quarterly release schedules, according to a release from the trade body.
BGMEA vice president Mohammad Shihab Uddoja Chowdhury raised concerns over loan rescheduling and working capital. He said banks often reschedule loans to maintain non-performing loan ratios, but fail to provide the working capital factories need to resume operations.
He proposed that banks pair rescheduling with working capital support to create a win-win outcome, allowing factories to operate and repay loans. The finance minister agreed with the proposal.
BGMEA leaders also called for business facilitation and lower operational costs to help Bangladesh remain competitive in the global market. They sought policy support to remove obstacles in customs, ports and other administrative layers and to ensure an investment-friendly environment.
Fibre2Fashion News Desk (DS)
Bangladesh think tank Centre for Policy Dialogue has called for major reforms in business environment, tax collection, trade deals and FDI management, cautioning that the country’s post-election economic transition may be at risk without evidence-based decisions and strong accountability.
A CPD study identified ‘leaking revenue’ as the weakest area across all decision-making indicators.
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