April 22, 2024

Bangla Apparel Exports To India Down 12.8% In July-Oct

In the first four months of fiscal 2024 ending October 2023, Bangladesh garment exports to India dropped to US $346.34 million, down 12.80 percent compared with same period of earlier fiscal.

Experts have raised concerns over apparel exports falling in the reporting period to the neighbouring country, which has a big population.

“But they also attributed the decline in exports to a slowdown in demand for clothing in the domestic markets of India,” media reports stated.

Bangladesh and India had earlier signed an agreement in 2008 under which Bangladesh can annually export eight million garments duty-free to India.

However, exports of apparels to China, the biggest garment exporter in the world expanded by a massive 41.27 percent year on year to $97.91 million in the months between July and October 2023.

Alongside, exports of clothing to Russia also grew significantly in the period under review by 39.42 percent to $125.80 million.

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