India is now the fastest growing market for Bangladesh. In the first quarter of the current financial year, exports to neighboring India grew by more than 66 percent.

Bangladesh exports more than 70 percent of its apparel to the US and EU countries. Bangladesh’s readymade export growth to Canada was 17 percent, Japan was 16 percent, Australia was 14 percent, Europe was 12 percent, and the US was five per cent.

Bangladesh’s garment exports to India have grown by about 70 percent in the last financial year. In the first two months of the financial year (July-August), the growth was 99 percent and in the last July to September quarter, the growth was 66 percent. Bangladesh has gradually started to come out from traditional export destinations. The main markets for garment exports from Bangladesh have been mainly western countries.

Exporting to India has many advantages for Bangladesh. One is the size of 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.