Bangladesh Ready Made Garment exports to India grew by 36.70% in FY 2012-13

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Bangladesh Ready Made Garment exports to India grew by 36.70% in FY 2012-13

Bangladesh’s export of Ready-Made Garments (RMG) to India registered US$ 75.21 million in FY 2012-13 (July-June) which is higher by 36.70% than export value of US$ 55 million in FY 2011-12.

The figures compiled by BGMEA (Bangladesh Garment Manufacturers and Exporters Association) have shown a consistent rise of Bangladesh RMG exports to India from 2010-11 as it showed astounding rise of 186.84% to US$ 35.94 million from previous fiscal of US$ 12.53 million.

Here to note that since September 6, 2011, India has allowed duty free, quota-free access to 46 categories of Bangladeshi RMG which is propelling the growth. Earlier, duty free access to RMG exports from Bangladesh to India was limited by quota. Since November 2011, India granted duty-free, quota-free access to all items except tobacco and alcohol to SAARC’s Least Developed Countries (LDCs), including Bangladesh.

While overall exports from Bangladesh to India have shown growth of 13.15% in FY 2012-13 compared to last fiscal, export of raw jute (which is not included in RMG) has grown by 17.5% to US$ 133.9 million from US$ 113.9 million a year ago. Bangladesh’s total textile and apparel export to world registered 12.7% growth to US$ 21.516 billion during FY 2012-13.