As a big market and neighboring country, exports are expected to grow in India. In the fiscal year 017-18, the export of garment exports to the main products increased 115 percent.
This growth is the record of Bangladesh export to any single market. During this time, the export of garments in the world market increased 9.92 percent. Not only clothing, but exports of all types of products in India increased by about 23 percent.
According to exporters, the main problem of Bangladesh in the export of clothing is LeidTime. Generally, after obtaining export orders, the entrepreneurs import, manufacture and supply raw materials. There is a lot of time spent on it. Leadtime in the US and European Union countries is three months. However, it is possible to reach products in India within three days. According to trade analysts, Bangladesh has the capability to export more clothing to India in this regard.
They believe that export should be more.
Exports of Export Promotion Bureau (EPB) and BGMEA showed that, in the last fiscal year, there was an increase of 28 million dollars from the export of garment in India. In the previous year, the amount was 13 million dollars. In 2015-16 fiscal year, which was $ 14 million More than twice the demand of ovens (shirts, pants) compared to knit garments in the country. During the discussions, the export of oven has come from 21 million dollars The remaining $ 7 billion has earned more than net exports. BKMEA's first vice-president Mansur Ahmed said, "The reason for export of net exports was less than the oven, India's strongest competitor of our knitwear competition, BKMEA's first vice-president Monsur Ahmed said. Locally-made net products are much more affordable than here. That's why the net market is not growing like that. Because ovens are used in different types of fabrics, there is relatively easy to export the oven.
Originally, due to duty-free access to 66 products, including ready made garments in India from September 2011, the speed of export has come. Although there has not been significant change in the announcement for the first two-three years of the announcement, the export growth has increased in the last three years.
Professor Salim Raihan, Executive Director of South Asian Network on Economic Modeling (CNE), Executive Director of Dhaka University and Professor of Economics at Dhaka University, believes that there are three main reasons behind the increase in the export of clothing in the Indian market. He said, considering the big market, international brands opened the showroom in India.
As a result, there has been an increase in the demand for garments including India. And buyers have special interest in this country's clothing.
Due to the fact that LeadTime is a great way to get clothes in India. Among other reasons, the complexity of duty from the state to the state was adjusted. As a result, there is no longer any tax on the state-owned tariffs.