Bangladesh exported garment products worth $764 million to India in 2021 an increase of more than 25 per cent compared to the previous year.

At present about 80 per cent of exports of readymade garments are directed to the US and European countries. But with rapidly changing geopolitical dynamics, many in the industry have voiced their opinion for establishing new markets.

Meanwhile, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) said that India and Bangladesh are not competitors in the field of garment exports. The two countries actually complement each other, Faruque Hassan, president, BGMEA said.

Hassan stressed that Bangladesh gains from garment exports impacts India directly as supplies of several inputs including petrochemicals and other accessories come from New Delhi.

“We don’t compete, rather, I would say we complement each other,” the Business Standard (Bangladesh) quoted Hassan as saying.

In the first two months of this fiscal year our export volume to the Indian market has increased by more than 99 per cent, he said.

Notwithstanding the Covid 19 pandemic, Bangladesh has increased its apparel exports to the US last year. The South Asian nation has also started aggressively scouting for newer markets.

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