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ReturnIndia: Govt likely to grant duty free access to Bangladesh
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PublishDate：
2007-04-05 16:56:00
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The prime minister, Manmohan Singh is likely to grant Bangladesh, the duty free access to its readymade garment sector, industry sources said here on April 03.
The indication, which is set to revolutionise the readymade segment, came through at the Saarc summit here in the capital, where member-nations explored ways to increase trade.
The flow from Bangladesh is unlikely to stop at garments, while ceramic and melamine crockery items, biscuits, soaps and detergents could also be filling mall space.
However, Bengal will feel the impact of the rising imports more than any other state as almost all of Bangladesh?s exports to India arrive through Petrapole in North 24-Parganas.
D.P. Nag, secretary, Bengal National Chamber of Commerce & Industry commented that readymade garments are Bangladesh?s principal export and sell to all the big brands of the West as the quality is good and often cheaper than Indian products.
Some big Indian brands already outsource shirts and trousers from Bangladesh because its products are of good quality, but volumes are thin.
The exports from India stood at $1.8 billion in 2005-06, while its imports at $242 million and as per the World Bank report; India also runs a huge trade surplus in informal (unofficial) trade.
Once duties are scrapped, experts say some Bangladeshi firms may establish their own brands here.
Source:Industry Website
The indication, which is set to revolutionise the readymade segment, came through at the Saarc summit here in the capital, where member-nations explored ways to increase trade.
The flow from Bangladesh is unlikely to stop at garments, while ceramic and melamine crockery items, biscuits, soaps and detergents could also be filling mall space.
However, Bengal will feel the impact of the rising imports more than any other state as almost all of Bangladesh?s exports to India arrive through Petrapole in North 24-Parganas.
D.P. Nag, secretary, Bengal National Chamber of Commerce & Industry commented that readymade garments are Bangladesh?s principal export and sell to all the big brands of the West as the quality is good and often cheaper than Indian products.
Some big Indian brands already outsource shirts and trousers from Bangladesh because its products are of good quality, but volumes are thin.
The exports from India stood at $1.8 billion in 2005-06, while its imports at $242 million and as per the World Bank report; India also runs a huge trade surplus in informal (unofficial) trade.
Once duties are scrapped, experts say some Bangladeshi firms may establish their own brands here.
Source:Industry Website
