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Millions of workers will be unemployed if Malabar starts business in Bangladesh


প্রকাশ: 02/04/2022


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The news of Indian company Malabar Gold & Diamond's doing business in Bangladesh has raised concerns among those involved in Bangladesh's gold industry. Panic has spread, especially among goldsmiths and factory owners. They think that if Indian company Malabar brings readymade Jewellery to Bangladesh, it will lose millions of goldsmiths involved in this industry. All the hundreds of years old jewelry factories will be closed. At the same time, the possibility of exporting Bangladeshi Jewellery in the global market will be ruined.

It is learned that Malabar Gold and Diamond announced to do business in Bangladesh at the 3rd Bangladesh Economic Forum held in the second week of this month. Although the company has its main business office in Dubai, the Indian company said it will bring gold Jewellery worth 100 million to Bangladesh in the next three to five years. Amir CMC, Director of Finance and Administration, Malabar Gold and Diamonds, made the announcement at a forum held at the Movenpick Grand Hotel in Dubai.

The country's goldsmiths and factory owners panicked after Malabar's announcement. They said that mainly those involved in the country's gold smuggling ring and conspiracy to destroy the gold industry are fueling Malabar to come to Bangladesh. They have also announced to stop Malabar from coming to Bangladesh at any cost to save the country's gold industry and make it export-oriented.

Dinesh Chandra Pal, general secretary of Dhaka Goldsmiths Workers' Union, said that an unscrupulous group was involved in smuggling foreign readymade Jewellery into the country. They want foreign readymade jewelers to come and do business in Bangladesh. This cycle seeks to destroy Bangladesh's potential gold industry in the international market. Now they are conspiring to bring Indian company Malabar to Bangladesh. He also said that at present, due to the arrival of readymade Jewellery from abroad, the local artisans do not get jobs. For this, goldsmiths are moving to other professions.

Dinesh Chandra Pal said, "We have sent letters to different ministries of the government at different times to stop the import of readymade Jewellery." We have repeatedly requested the government to give the opportunity to the country's gold industry to become the main export product after garments. But there is no response from the government in this regard. But there is a huge demand for jewelry made by our artisans abroad. The finishing and beauty of the handicrafts made by the artisans here is unmatched anywhere else in the world.

Calling the attention of the Prime Minister, Shankar Basak, senior co-president of the Dhaka Goldsmiths Workers' Union, said that foreign companies should also stop importing foreign Jewellery. Otherwise the gold artists of this country will die without eating. At the same time, the country's export-oriented industrial sector will be completely destroyed.

Gangacharan Malakar, president of the Dhaka Goldsmiths Workers Union and founder president of Bajus, said Dubai is the main market for gold exports around the world. All the countries have their showroom there except Bangladesh. The success of this industry will not come till we start exporting gold Jewellery. The government's export income will not increase. The government should not allow foreign companies to do business but should give us the opportunity to export the Jewellery we have made. We will bring more export income to the government than garments.

Mentioning that there is an opportunity to export Bangladeshi Jewellery all over the world, he said, "We did take initiative in this regard more than once." But did not get any response from the government. Now the government should take the initiative taken by Bashundhara Group and make it bigger.



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