From July 2022 to August 2022, Bangladesh’s garment exports to India grew by 99 percent.

India is now the fastest growing market for Bangladesh’s readymade garments. In the last financial year Bangladesh’s garment exports to India grew by 70 percent.

Exporting to India has many advantages. To Bangladesh, as of now, the nearest and biggest market is the Indian market. The population of India is massive and if Bangladesh can tap into this market and sell products a lot of its losses will be covered. Trade with India as a neighboring country has lower transport costs. Bangladesh is now working on manmade fibers or artificial fibers. India is very strong in manmade fiber and Bangladesh imports most of the raw materials and manmade fibers from India.

Bangladesh has gradually started to come out from traditional export destinations. The main markets for garment exports from Bangladesh are mainly western countries. But Bangladesh’s apparel exports to India are far ahead of exports to western countries. In the first quarter of the current financial year, the export growth in Canada was 17 percent, Japan was 16 percent, Australia was 14 percent, Europe was 12 percent, and the US was five per cent. But exports to neighboring India grew by more than 66 percent.