Bangladeshi Garment makers seek to build warehouses in India

Bangladesh Garment Manufacturers requested 50 acres of land in Gujarat to build warehouses to provide clothing directly to retail stores across India.
Storage is needed as Bangladesh seeks to boost annual exports of clothing to the Indian market to $ 1 billion in three years to about 100 million today, Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters or BGMEA.

“So we need to direct marketing and storage easier,” said Islam after a meeting with Indian Prime Minister Narendra Modi at Sonargaon Hotel in Dhaka.

apparel manufacturers preparing a $ 25 million fund to build warehouses, according to Islam.
“India is a very important market for us. The annual size of the Indian retail market is set to be greater than $ 40 billion, consumers increasingly middle class,” said Islam.

“It is an opportunity for us that the Indian government has begun to expand connectivity liberalizing trade policy,” he said.
India has already helped retailers of almost all world famous clothing to operate in its market.
“If we are allowed to build warehouses in Gujarat, we will also be able to provide articles of clothing to these retailers,” added the head of the BGMEA.

Islam said they also demanded the withdrawal of 12.5 percent countervailing duty of India (CVD) so that the Bangladeshi garment manufacturers can export more.

Although India has provided duty-free and market access and quota for all products of Bangladesh, with the exception of Articles 25 alcoholic and drugs, in November 2012, she applied the CVD the Next year, that began to hinder clothing exports to India.

“I also demanded the withdrawal of India the state level by 4 percent special duty on garment exports to India,” said Islam.
Abdul Matlub Ahmad, president of the Federation of Bangladesh Chambers of Commerce and Industry, who led the team of 11 members at the meeting, Bangladesh said business also demanded that the two ports and Benapole Petrapole stay open every day for smooth export and import activities.

On average, two ports remain closed for three days a week, since it is a public holiday in Bangladesh on Friday, while Saturday and Sunday are holidays in India. “We want the ports remain open around the clock,” said Ahmad .

“Our goal is to develop the South Asian region, as the European Union. We thanked Modi for his announcement of regional connectivity initiatives through the signing of the trade agreement,” said Ahmad. “Modi has been very positive in the meeting. We want Indian investment here. We want Indian partnership in the construction of the deep water port in Bangladesh. Modi agreed to our proposals.”

In 2013-14, Bangladesh exported garment items worth $ 96,260,000 from $ 75,210,000 for the previous year.
Overall exports from Bangladesh to India worth $ 456 630 000 in 2013-14, compared to $ 563.97 million the previous year.
Imports from Bangladesh to India were recorded at $ 6.03 billion for 2013-14 and $ 4.78 billion the previous year, according to data from the Commerce Department.

It is believed that India exports goods worth more than $ 6 billion for Bangladesh a year through informal channels.

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