Export to India soars 53pc to $1.07b (July-April)

[bluesky]

Export to India soars 53pc to $1.07b
Global, Indian brands increase sourcing from BD
Monira Munni | Published: May 18, 2019 09:42:54 | Updated: May 18, 2019 13:25:03

The country's overall export to India reached US$1.07 billion during July-April period of the current fiscal (FY), 2018-19, marking a robust 53 per cent growth.

Bangladesh earned $701.56 million during the corresponding period of last FY, according to the state-owned Export Promotion Bureau (EPB) data.

The other non-traditional destinations where local export during the period under review witnessed double-digit growth included Japan $1.17 billion with 22.57 per cent growth, and China $709.06 million with 26.14 per cent growth.

Besides, export to Australia rose 13.63 per cent and reached $688.89 million, Russia 12.83 per cent to $446.94 million, and Korea 48.05 per cent to $317.72 million, the EPB data showed.

Ready-made garment (RMG) items are the major local goods shipped to India along with other products like raw jute and jute goods, fish and crustaceans, plastic and leather items, sources said.

The exporters and experts attributed the rise in export to growth in demand of these items among the Indian rising middle class.

They opined that India is a potential market, not only for RMG but also for non-RMG products.

Western retailers, having outlets in India, and Indian local brands also found sourcing their goods from Bangladesh competitive, they added.

When asked, Fazlee Shamim Ehsan, acting president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), said the growing middle class in India is pushing up the demand for the locally-produced garment items there.

Besides, the western retailers, including H&M, are also opening their chain shops in India, and increasing direct sourcing from Bangladesh, he told the FE on Thursday.

The duty-free access to India has also encouraged them (western buyers) to source from Bangladesh for Indian market.

"Indian local clothing brands are also gaining confidence in our quality products."

"India is undoubtedly a big market for Bangladesh, and locally made apparel items have huge demand there," he added.

Local jute exporters, however, said their export to India is facing difficulties due to imposition of anti-dumping duty on jute goods by that country.

India has amended the registration rules for importing raw jute and jute products, making it mandatory for all importers to obtain no objection certificate (NOC) from the Jute Commissioner of India for each consignment, according to a recent report of the World Bank.

"The entire procedure of obtaining NOC is fraught with complexities and uncertainty, thus restricting the import of raw jute and jute products from Bangladesh," it added.

Abdul Barik Khan, Secretary of the Bangladesh Jute Mills Association, opined that one-fourth of the total exportable jute goods of the country are shipped to India, and the exporters are facing high duty ranging between $19 and $356 per tonne.

The anti-dumping duty has severely affected export of local jute goods to India, although there is no such barrier in exporting raw jute, he noted.

 

[bluesky]

India has finally imported $1.07 billion worth of BD goods in ten months. It is not yet $5.0 billion, but our exporters must be praised for their all-out efforts to enter a market whose population traditionally is the most miser people.

 

[Nilgiri]

India has finally imported $1.07 billion worth of BD goods in ten months. It is not yet $5.0 billion, but our exporters must be praised for their all-out efforts to enter a market whose population traditionally is the most miser people.

Are chinese even more "miser" because of their even bigger trade surplus with you?

Bloody idiot from west Bengal ghatia!!

Also remember to add service trade too (probably becomes 10+ billion USD difference then)....Poor and rich Bangladeshis alike love Indian hospitals because BD doctors rather spend time bickering and complaining on online forums and then say "shut it down" to make them leave...as though they don't have personal choice on it right now lol :

https://defence.pk/pdf/threads/shou...e-moved-or-closed.618607/page-2#post-11461066

Silly childish people....cannot mature and grow some real brains ever. Yes ghatia ppl are completely correct about you lot. Even the smart bangals (like joe shearer) you ejected them to West Bengal (your own decision, just like to join pakistan)....and now you complain and bicker and cry like kindergartener tantrum. Orange juice WASA water will not help I suppose.

Now you tell me who the real miser is....you invested just 2 dollars per person outside your country and you want to say others are miser?

https://unctad.org/sections/dite_dir/docs/wir2018/wir18_fs_bd_en.pdf

Then you expect chaddi buying intention as indication of miser or not?

What next, you gonna call anyone else an idiot/stupid while you file just two patents at best a year in the US for 170 million ppl represented?

Fix your own people before you label others as something...

 

[bluesky]

Are chinese even more "miser" because of their even bigger trade surplus with you?

China is the greatest exporter of textiles. It doesn't need our ones but it is building textile factories here. India is different. It will ask its population to remain shirtless but will not buy from BD. India, thy name is a miser. There was a time when west Pakistan produced very high-quality fabrics and cloths. People were so fond of all these goods, especially the curtains and bedsheets. Yet, many would go for the smuggled Indian fabrics.

Time has changed. Now, BD produces the best ones. So, buy BD.

 

[Homo Sapiens]

India, Poland become new billion-dollar export markets for Bangladesh
Moinul Haque | Published: 00:00, May 19,2019

Bangladesh has achieved two new billion-dollar export markets in the current 2018-19 financial year in addition to the existing nine such markets.
The export earnings from India and Poland topped one billion US dollars in the first 10 months of the FY 19 because of the extraordinary performance of the country’s apparel sector.

The export income from India in the July-April period of the FY 19 totalled $1.07 billion, 52.98 per cent higher from $701.56 million posted in the same period of the FY 18, while that from Poland in the period grew 29.80 per cent to $1.02 billion from $787.91million, according to Export Promotion Bureau data.
According to EPB statistics, Bangladesh’s export to India in the 2017-18 financial year fetched $873.27 million while the earnings from Poland stood at $965.22 million in the period.

The country’s hitherto billion-dollar markets were: the United States, Germany, the United Kingdom, Canada, Spain, France, Italy, the Netherlands and Japan.
Along with Bangladesh’s exports to Japan, its exports to Belgium had also reached the billion-dollar mark in the FY 16 but later as Bangladesh’s export growth to that country went down it slipped from the position.
Exporters and experts said that it was a good sign that Bangladesh’s exports to India and Poland exceeded one billion dollars, adding that the country had the opportunity to export goods worth billion dollars or more to more countries in coming days.

‘Our business ties with India have been strengthened in the last few years and the export earnings from that country have significantly increased. We have more scope to grow in the market,’ Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association, told New Age on Thursday.
He said that Bangladesh’s readymade garment export to India increased significantly as the local demand of that country increased and many global retailers opened their outlets in India.

‘If the non-tariff barriers are removed, Bangladesh’s export to India will grow more,’ Fazlul said.
He also said that it was encouraging that Bangladesh’s share had increased in Poland’s market, which was earlier dominated by Turkey and China.
Some of Bangladesh’s apparel products go to Germany and Russia through Poland, which is itself a strong economy to consume a significant quantity of fashion items from Bangladesh, Fazlul Hoque said.

‘It’s a positive thing for Bangladesh that the export earnings from India and Poland topped one billion dollars in the first 10 months of the current financial year but we have scope to increase our exports to one billion dollars or beyond in many other non-traditional market,’ Khondoker Golam Moazzem, research director of the Centre for Policy Dialogue, said.
Although, Bangladesh’s exports have topped one billion dollars in both India and Poland, there are some differences in the two markets.
There are huge opportunities for Bangladesh to export non-traditional products to India and policy makers and exporters should take that advantage to export non-RMG products to that market, he said.

Some other new destinations, including China and Russia, could also be billion-dollar markets for Bangladesh and the government and exporters should devise policies to gain greater shares in those markets, Moazzem said.
EPB data show that the export earnings from the United States, the largest export market for Bangladesh, in the July-April period of the FY 19 grew by 16.17 per cent to $5.71 billion from $4.92 billion in the same period of the FY 18.
The country’s exports to Germany, the second largest destination for its goods, grew by 7.10 per cent to $5.26 billion in the July-April period of the current fiscal year from $4.91 billion in the same period of the previous fiscal year.

The income from the exports to the United Kingdom, the third largest export market for Bangladesh, grew by 3.77 per cent to $3.50 billion in the period.
The exports to Japan in the July-April of the ongoing fiscal year went up by 22.57 per cent to $1.17 billion from $956.03 million in the corresponding period of the earlier fiscal
year.
The export revenue from China in the first 10 months of this fiscal year increased by 26.14 per cent to $709.06 million from $562.11 million in the same period of the last fiscal year.

More about:
http://www.newagebd.net/article/728...-billion-dollar-export-markets-for-bangladesh

 

[Arulmozhi Varman]

China is the greatest exporter of textiles. It doesn't need our ones but it is building textile factories here. India is different. It will ask its population to remain shirtless but will not buy from BD. India, thy name is a miser. There was a time when west Pakistan produced very high-quality fabrics and cloths. People were so fond of all these goods, especially the curtains and bedsheets. Yet, many would go for the smuggled Indian fabrics.

Time has changed. Now, BD produces the best ones. So, buy BD.

Love your sarcasm and overconfidence....

 

[bluesky]

Love your sarcasm and overconfidence....

Problebm is with @Nilgiri. He has no sense of understanding sarcasm and becomes very serious while he himself is throwing muds at BD all the time. Anyway, thanks to India for taking in our internationally renowned goods.

 

[Nilgiri]

China is the greatest exporter of textiles. It doesn't need our ones but it is building textile factories here. India is different. It will ask its population to remain shirtless but will not buy from BD. India, thy name is a miser. There was a time when west Pakistan produced very high-quality fabrics and cloths. People were so fond of all these goods, especially the curtains and bedsheets. Yet, many would go for the smuggled Indian fabrics.

Time has changed. Now, BD produces the best ones. So, buy BD.

First become more than a 2-dollah cheap miser nation yourself ...we 60 times less miserly than you where it matters.

Problebm is with @Nilgiri. He has no sense of understanding sarcasm and becomes very serious while he himself is throwing muds at BD all the time. Anyway, thanks to India for taking in our internationally renowned goods.

LOL...where you are being sarcastic, take my response as sarcastic too.

Where you are serious, take mine as serious too.

In the end its just to learn and interact. You are not like the 99% BD mob here after all....you are worth having a convo with.

 

[kris]

India has finally imported $1.07 billion worth of BD goods in ten months. It is not yet $5.0 billion, but our exporters must be praised for their all-out efforts to enter a market whose population traditionally is the most miser people.

That miser attitude of common Indian citizens made our country where we are today and many countries willing to increase their trade....

As an old saying goes ' one rupee saved is two rupees earnt '

I believe it

 

[bluesky]

That miser attitude of common Indian citizens made our country where we are today and many countries willing to increase their trade....

As an old saying goes ' one rupee saved is two rupees earnt '

I believe it

However, miser minds may also bring about misery in society. For example, if your factory produces a certain basket of goods, but people want to keep money in the purse and do not buy, how can you run your factory? So, at some point, it is necessary to spend money because the money will come back to your pocket in cash or goods.

Sometimes, I think that BD people's spending habit is good to create a consumer society although for now, we spend on foreign goods now. BD should invest in manufacturing, instead.

 

[kris]

However, miser minds may also bring about misery in society. For example, if your factory produces a certain basket of goods, but people want to keep money in the purse and do not buy, how can you run your factory? So, at some point, it is necessary to spend money because the money will come back to your pocket in cash or goods.

Sometimes, I think that BD people's spending habit is good to create a consumer society although for now, we spend on foreign goods now. BD should invest in manufacturing, instead.

Too much of anything is bad...
Typically Indians spend only when it's bang for the buck.. that's why jugaad systems work well here..

Too much spendthrift economy will collapse at some day.. saving protects you..
It's just like ant and grasshopper story