by Apparel Resources News-Desk
01-August-2019 | 1 min read
79.09 per cent growth is nothing short of being extraordinary!
Bangladesh’s readymade garment (RMG) sector has earned an astounding US $ 499.09 million from export to India in FY2018-19.
In FY2017-18, the number was US $ 278.67 million. That’s a jump of 79.09 per cent!
While talking to media about how India is proving to be a big money spinner for Bangladesh’s RMG sector, Mohammad Nasir, Director, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and MD, Masud Apparels Ltd., said, many Indian giants like Tata and Reliance have ventured into apparel business and also opened retail chain stores across the country.
This has given a big opportunity to Bangladesh to act as their suppliers.
He further added that several bigwigs like H&M and Zara have also established themselves in India, and Bangladesh is their biggest supplier.
The BGMEA Director said “it is actually a win-win situation for both countries because the domestic market too has grown in India and there is a surge of fashion-conscious consumers in India. We import RMG raw materials such as cotton and machinery from India and so their exports are also increasing.”
He also added that Indian market is closer than European market and therefore there is still a lot of opportunity for Bangladesh to penetrate into Indian market.
Share This Article