15 July 2023, Mumbai
India’s imports of apparel from Bangladesh, also means exports of apparel from Bangladesh crossed a significant milestone in the fiscal year FY2022-23 surpassing $1 billion.
Datapoint
The data reveals a remarkable 42 percent year-on-year increase, reaching $1,012 million during the July-June period, as per BGMEA.
SAFTA
The duty-free benefit provided by the South Asian Free Trade Area played a significant role in this growth.
Make in India; The growth in imports from Bangladesh signals a major concern for India’s apparel manufacturing industry and for the initiative of ‘Make in India’.
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