Bangladesh’s overall exports to its neighbour India during the July-April period of the current fiscal (FY), 2018-19, increased by an astounding 53 per cent to touch US $ 1.07 billion. And a major contributor in this has been readymade apparels, as per media reports.
According to data from Export Promotion Bureau (EPB), Bangladesh earned US $ 701.56 million during the corresponding period of last FY.
The growing middle class in India is pushing up the demand for garment items there, cited the reason, Acting President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Fazlee Shamim Ehsan, interacting with the media.
As per industry experts, Western retailers, having outlets in India, and Indian local brands sourcing their goods from Bangladesh, have also aided in this growth.
According to reports, among the non-traditional markets where exports during the period under review witnessed double-digit growth includes Japan (US $ 1.17 billion with 22.57 per cent growth) and China (US $ 709.06 million with 26.14 per cent growth).
It may be mentioned here that apart from garments, other major items exported to India are raw jute and jute products, fish and crustaceans, and plastic and leather items.