With recent export reversals in traditional strongholds of the US and the EU, experts believe Asian markets of China and India and that of Japan can help Bangladesh apparel exporters to increase exports in the coming days. While China boasts of a domestic market that is next only to the US in terms of size, Indian fashion retail sector is expected to touch $115 billion by 2026. Bangladesh’s exports to India touched the billion dollar mark in 2019. Of the total amount, apparel sector alone earned $499.09 million in 2018-19 fiscal, 79.09 per cent higher compared to what was $278.67 million in the previous year.

Hence, Bangladeshi manufacturers must establish contacts with prominent Indian retail companies and try to develop a long-term business relationship based on mutual trust and benefit, said Asif Ibrahim, Managing Director, Newage Group in an earlier interview with Apparel Resources. Shahidullah Azim, former Vice President, BGMEA added that after the implementation of the Goods and Services Tax (GST), production cost in India has increased, which has further given a boost to apparel imports from Bangladesh.

Bangladesh should also focus more on the Asian markets to revive the country’s earnings from export amidst the COVID-19 outbreak, opined Mustafizur Rahman, distinguished fellow of the Centre for Policy Dialogue (CPD), adding that Asian markets, especially India and China, are very important from Bangladesh’s export perspective.

Apart from India, China has become a major export destination for Bangladeshi RMG makers lately. Apparel exporters from Bangladesh have been making steady inroads into China and exporting cotton-based apparel to the country said Mohammad Hatem, Vice President, BKMEA.