Economy of Sylhet
 The Location of Sylhet on the Map Of Bangladesh | |
| Statistics | |
|---|---|
| GDP |
$21.60 Billion (Nominal) $49.6 Billion(PPP) (2014)[1] |
GDP per capita | $5,010(2014) |
Population below poverty line | 21%[2] |
| Unemployment | 7.80%(2010) |
| Public finances | |
| Expenses | $2.3 Billion (Total) |
The economy of Sylhet is the third largest in People's Republic of Bangladesh. The province is known as the Agricultural Capital of Bangladesh due to vast natural resources. Sylhet is also seen as the future economic engine of Bangladesh due to its vast economic prospects. The province is home to the world's largest tea plantations, both in terms of area and production. However, the Province is more known for its business boom and investment in luxurious hotel, and real estate. As of 2014, Sylhet's Gross state product is $21.60 Billion in Nominal terms and $49.6 Billion in terms of Purchasing Power Parity, equivalent of countries like Nepal and Afghanistan.
History
Historians believe that Sylhet was an expanded commercial center from the ancient period, which explains its original namesake. During this time, Sylhet was probably inhabited by Indo-Aryan Brahmins, though ethnically the population would also included Assamese, Dravidians of Bengal, Arabs, Persians and Turks. It has also been suggested that the Ancient Kingdom of Harikela was situated in modern Sylhet.[3][4]
The 14th century marked the beginning of Islamic influence in Sylhet.[5] During the medieval period, Sylhet was a leading centre of Persian-speaking Muslim missionaries.[6]
A Muslim saint, Hazrat Shaikh al Mushaek Jalal Uddin, popularly known as Shah Jalal, arrived in Sylhet in 1303 CE from Mecca via Delhi, together with 360 Sufi saints and army generals such as Sikander Ghazi, Syed Nasiruddin and Khwaja Burhanuddin Qahafan, who defeated Govinda of Gaur.[7] Sikander Ghazi was the nephew of Sultan Feroze Shah of Delhi. Under the spiritual leadership of Hazrat Shah Jalal and his 360 companions, the Muslims converted many local Hindus. He died in Sylhet in or around the year 1350 CE. His shrine is located inside the parameter of the mosque complex known as Dargah-e-Shah Jalal.
Shah Jalal remains revered; visitors arrive from all over Bangladesh and beyond to pay homage.[7] Saint Shah Jalal and his companions are credited with converting most of the populace from their earlier beliefs in Hinduism, Buddhism and other religions to Islam. By the 15th century, Sylhet became a centre of Islam in Bengal. In the official documents and historical papers, Sylhet was often referred to as Jalalabad during the era of the Muslim rule.[8][9]
Hinduism, which is the name given by Europeans to the practices and beliefs of the people of the oldest civilization in the World in the Indus Valley, intricately links Sylhet and the rest of Bangladesh with its rich history. Sylhet is home to two of the fifty-one body parts of Sati, a form of Goddess Durga, that fell on Earth according to accepted legends. Shri Shail in Jainpur village near Gotatikar in south Surma and Jayanti at Kalajore Baurbhag village of Jaintia are where the neck and left palm of Sati fell on this Earth. In addition, the 16th century Krishna Chaitanya's ancestral homes are in Golapganj and Habiganj. Chaitanya was another reincarnation of Krishna to walk on Earth and guide Humanity. Hindus believe He will return during the kalijug or end of time, a belief common with Christianity and Islam who believe Christ and Imam Mehdi, respectively, will come at the end of time.
In the late 18th century, the British East India Company became interested in Sylhet and saw it as an area of strategic importance in the war against Burma. The British gradually absorbed Sylhet under their control, and governed it as a part of Bengal. After the British administrative reorganization of India, Sylhet was incorporated into Assam. It remained a part of Assam for the rest of the era of British rule.
In 1947, following a referendum and the Partition of India, almost all of erstwhile Sylhet became a part of East Pakistan, barring the Karimganj subdivision, which was incorporated into the new Indian state of Assam.[10] The referendum was held on 3 July 1947, there were a total of 546,815 votes cast on 239 polling stations, a majority of 43.8 per cent voted in favour of East Bengal. There were protests regarding bogus votes. The referendum was acknowledged during India's independence celebration on 18 July 1947.[11] In 1971, Sylhet became part of the newly formed independent country of Bangladesh.[8]
The Sylhet region has a "friendship link" with the city of St Albans, in the United Kingdom. The link was established in 1988 when the District council supported a housing project in Sylhet as part of the International Year of Shelter for the Homeless. Sylhet was chosen because it is the area of origin for the largest ethnic minority group in St Albans.[12]
According to the St. Albans District Council: the majority of British Bangladeshis are of Sylheti ethnic origin (see British Bangladeshi). It is a testament of Sylhet in its history of trade relations with other parts of the world.
Economy
Sylhet region is the most enriched area of Bangladesh. A vast quantity of proven gas reserve and Bangladesh's only oil field in located in the region.
Natural Gas
Sylhet contains a vast amount of proven natural gas reserve. There are total eight gas fields located in the region. Total reserve of gas fields of the region is about 14 trillion cubit feet. According to Jalalabad Gas System Limited, The company's annual revenue earning is around 566 crores.
Remittance
Remittance is one of the biggest source behind Sylhet's economic growth. According to study, Every 1 out of 30 expatriates of Sylhet are currently living abroad, particularly in UK. The remittance of financial year 2012-13 is estimated around $10 Billion.
Tourism
Sylhet is one of the most popular tourist destinations in Bangladesh. The province offers tourists with variety of options ranging from natural to commercial. The province is home to some of the most luxurious Hotels, Resorts and Shopping Malls in Bangladesh.
References
- ↑ "Sylhet's contribution to Bangladesh's Economy" (PDF). Retrieved 22 March 2015.
- ↑ "Sylhet Poverty Data". www.foodsecurityatlas.org. Retrieved 3 November 2014.
- ↑ Dilip K. Chakrabarti, S. Dara Shamsuddin, M. Shamsul Alam (1992). Ancient Bangladesh: A Study of the Archaeological Sources. Oxford University Press. p. 166.
- ↑ National Institute of Historical and Cultural Research (Pakistan) (1996). Pakistan Journal of History and Culture. National Institute of Historical and Cultural Research. p. 33.
- ↑ "Islam in Bangladesh". OurBangla. Retrieved 2007.
- ↑ Abu Musa Mohammad Arif Billah (2012). "Persian". In Sirajul Islam and Ahmed A. Jamal. Banglapedia: National Encyclopedia of Bangladesh (Second ed.). Asiatic Society of Bangladesh.
- 1 2 Abdul Karim (2012). "Shah Jalal (R)". In Sirajul Islam and Ahmed A. Jamal. Banglapedia: National Encyclopedia of Bangladesh (Second ed.). Asiatic Society of Bangladesh.
- 1 2 "Did you know? - Sylhet" (PDF). SylhetTimes. January 2008. Retrieved 28 November 2008.
- ↑ Sylhet City. Bangla2000. Retrieved 28 November 2008.
- ↑ Karimganj - District in Assam]], India
- ↑ Dewan Nurul Anwar Husain Chowdhury (2012). "Sylhet Referendum, 1947". In Sirajul Islam and Ahmed A. Jamal. Banglapedia: National Encyclopedia of Bangladesh (Second ed.). Asiatic Society of Bangladesh.
- ↑ Sylhet, Bangladesh.St.Albans District Council.