Export of Bangladesh’s readymade garments (RMG) products to India is rising despite the ongoing Covid 19 pandemic. RMG goods of 36 crores 59 lakh dollars were exported to India from July to December of 2021-2022 fiscal year. This figure is 58% higher than that of the 2020-2021 fiscal year.
RMG exporters have said that there has been an expansion of middle-class buyers in India. At the same time, Indian customers are more becoming brand-conscious than before. Different international brands are opening showrooms in India. For this reason, Bangladeshi RMG products are heading for very good prospects in the Indian market.
Bangladesh Garments Manufacturers and Exporters Association (BGMEA) has informed that RMG products of 49 crore dollars were exported to India during the 2018-2019 fiscal year. RMG products of 84 crore dollars were exported to India during the last two fiscal years.
BGMEA President Faruque Hassan said that the price of clothes has increased in recent times due to the price hike of raw materials. Still RMG export to India has mounted, Faruque Hassan further said.
India gave duty-free entry to all Bangladeshi goods except arms and narcotics in 2011. Export of Bangladeshi commodities to India reached 125 crore dollars during 2018-2019 dollars. Bangladeshi goods of 106 crore dollars were exported during the first six months of the ongoing fiscal year. 34% of these exported items are RMG products.
American research organization Mackenzie and Company informed in 2019 that India will become a market of 5 thousand 900 crore dollars by 2022 for readymade garments. BGMEA Director Mahmud Hasan said that the global brands at present prefer India over Singapore, Hong Kong, and South Korea for opening showrooms of different apparel brands. It will be beneficial for Bangladeshi RMG exporters, Mahmud Hasan added.
AHM Ahsan, Vice Chairman of Export Promotion Bureau said that the Bangladesh government has been making the best of its efforts to enhance export destinations in various parts of the world for Bangladeshi traders. RMG’s export to India will further go up in days to come, he expressed hope.
