Bangladeshi apparel exporters look to a wider market in India following the prime minister's recent visit to the next-door neighbour.
They said India has also agreed to increase duty-free import of Bangladeshi garments to 14 million pieces a year from eight million now.
“This time, we did not see any negative attitude from India, as we did in the past,” said Abdus Salam Murshedy, president of Bangladesh Garments Manufacturers and Exporters Association (BGMEA), at a press conference at Dhaka Sheraton Hotel.
He said India was unaware that Bangladesh manufactures world-famous apparel brands.
“Now they have come to know about what we do. We will soon hold some single country trade fairs in some large Indian cities to let them know our capacity,” said Murshedy.
Nearly 50 business leaders accompanied Prime Minister Sheikh Hasina during her visit to India. They organised the press conference yesterday to let the media know the outcome of their visit.
Kazi Akramuddin Ahmed, chairman of Standard Bank, led the delegation consisting of business personalities of different chambers and sectors. They had a series of meetings with their counterparts in India.
Fazlul Hoque, president of Bangladesh Knitwear Manufacturers and Exporters Association, informed reporters that currently, India's retail apparel market is worth $27 billion with an annual growth rate of 18 percent.
“We are amazed to see the size of India's retail apparel market and its growth rate as well,” Hoque said.
Maj Gen (retired) Amjad Khan Chowdhury, chief executive of Pran-RFL, the single largest Bangladeshi exporter to India, is also upbeat on good business in India.
“We have a strong business opportunity in India,” Chowdhury said, adding that he considers the northeastern regions of India to be Bangladesh's market.
Pran-RFL, which produces a variety of consumer products, is also trying to set up a factory in Tripura, a popular market for Pran products, to set up a factory there. But the government is not allowing "export of capital", he alleged.
Earlier, Kazi Akramuddin Ahmed read out a written statement on the outcome of the visit. He termed the trip successful.
“Bilateral relationships have reached a new height. Long standing distrust has gone off,” Ahmed said.
Indians are now interested in investing in Bangladesh, he added.
The business leaders took questions on non-tariff barriers, negative list, India's use of Chittagong and Mongla ports, power sharing and regional connectivity.
The chairman of Standard Bank said allowing India, Nepal and Bhutan to use our ports will not only boost revenue earnings but also improve infrastructure.
Source : thedailystar.net