Finance
Garment Export Demand for Bangladeshi garments increasing in India
Own Correspondent, Dhaka, Sept 17: There is a growing demand for Bangladeshi-made garments among Indians. According to Export Promotion Bureau (EPB) data, readymade garments worth 7 crore 69 lakh 80 thousand dollars were exported to India last July. In the next month of August, India bought garments worth 11 crore 13 lakh 10 thousand dollars from Bangladesh. Bangladesh's garment exports to India increased by 3 crore 43 lakh 30 thousand dollars in one month.
According to EPB data, in the first two months of the current financial year (July and August) compared to the same period of the previous financial year, Bangladesh's garment exports to the Indian market have increased more than twice.
July and August of this year - in these two months, the exporters of Bangladesh exported ready-made garments to India worth about 18 crore 82 lakh 90 thousand dollars. This figure is almost 99 percent higher than the same period in 2021. In these two months of the last fiscal year, Bangladesh exported garments worth 9 crore 46 lakh 60 thousand dollars to the country.
Not only the export of garments, but also the export of other products in the Indian market has increased.
According to EPB data, Bangladesh's exports to India in the last fiscal year (2021-22) reached USD 200 crore (2 billion), surpassing all previous records, which was 55.62 percent more than the previous fiscal year (2020-21). It has been seen that exports have increased by 20.53 percent in July, the first month of the current financial year.3
Entrepreneurs say that demand is increasing in India due to the good quality of Bangladeshi products. During July-August of this year, export of woven clothes to India was worth 10 crore 59 lakh 70 thousand dollars. During the same period of last year, the export of woven garments was worth 5 crore 27 lakh 60 thousand dollars. That is, the growth has been 100.85 percent. And in the first two months of the current financial year, 8 crore 23 lakh 20 thousand dollars came from the export of knitwear. During the same period last financial year, exports were 4 crore 19 lakh dollars. In other words, compared to last year, knit garment exports have increased by 96.48 percent.
