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Substantial growth in Bangla RMG exports to India

Sep '18
Substantial growth in Bangla RMG exports to India
Bangladesh’s exports of readymade garments (RMG) to India have witnessed substantial growth since receiving duty free access to the Indian market in 2011, according to high commissioner of India to Bangladesh Harsh V Shringla. Such exports in 2017-18 rose by 115 per cent to $278.68 million from $129.81 million in 2016-17, he said in Dhaka recently.

India is now emerging as one of the fastest growing markets for Bangladesh’s garment exporters, he said at the inaugural event of the 19th Textech Bangladesh 2018, 14th Dhaka International Yarn & Fabric Show 2018 and 33rd Dye+Chem Bangladesh 2018.

The shows were organized by Conference & Exhibition Management Services (CEMS) Global and CEMS Bangladesh.

India is also one of the biggest sources of raw materials and machineries for the Bangladesh RMG industry, with around a fourth of Bangladesh’s demand for raw cotton and yarn met by Indian suppliers, said Shringla.

Twenty five percent of India’s exports to Bangladesh comprise cotton, yarn and fabric.

Indian textile engineering industry is also an important source of textile machinery for Bangladesh, with India’s textile machinery exports to the latter crossing $100 million in 2017-18, he added. (DS)

Fibre2Fashion News Desk – India

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