The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) sees India as the biggest export destinations for the country’s apparel sector. The current export volume of readymade garments is $279 million but BGMEA expects it to grow to $1 billion in future. Bangladesh is the second largest RMG exporter globally and sourcing of raw materials from India for its RMG industry provides a win-win situation to both countries.
BGMEA imports most of its cotton, dyes, chemicals and other auxiliary items from India to produce garments. Since India is the second largest producer of Manmade Fibre and Filament based textiles, Bangladesh is a big potential market for it. Around 60 percent of the total world trade in textile and clothing is done “Intra Asia” and is bound to increase in coming years owing to expansion in installed capacities and requirement of fiber to apparel amongst the Asian countries.
