Economy

Bangladesh’s garment exports to India are increasing

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.

Also read: 1,800 Bangladeshi civil service officers to get training in Mussoorie

AddThis Website Tools
IN Bureau

Recent Posts

EU Commission President Leyen meets EAM Jaishankar, says “strategic partnership getting stronger”

European Commission President Ursula von der Leyen met External Affairs Minister S Jaishankar in Belgium…

31 seconds ago

Paank condemns extrajudicial killings of four Baloch men, calls out Pakistan’s ‘kill-and-dump’ policy

Paank, Baloch National Movement's Human Rights Department, strongly condemned the brutal extrajudicial killings of four…

56 minutes ago

NaMo App launches ‘Jan Man Survey’ to mark 11 years of PM Modi’s leadership

To commemorate Prime Minister Narendra Modi's 11 years in office, the Narendra Modi App or…

2 hours ago

“If they are deep in Pakistan, we will go deep into Pakistan”: Jaishankar warns of retribution over terror attacks

Nearly three weeks after the end of a brief but intense conflict between India and…

3 hours ago

“If terrorists attack India, we will hunt them down wherever they are: EAM Jaishankar to Le Figaro

Indian External Affairs Minister S. Jaishankar, in an exclusive interview with Le Figaro, reaffirmed India's…

4 hours ago

Global lawmakers unite for Tibet at Tokyo convention, adopt key declarations against Chinese oppression

The 9th World Parliamentarians' Convention on Tibet (WPCT) ended on June 4 in Tokyo, Japan,…

4 hours ago