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Exports to India hits record high

UKBengali

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"Bangladesh's exports to India hits record high in the last fiscal year to reach about $2 billion, up 55.62 percent more than the previous fiscal year.

In July, the first month of 2022-23 fiscal year, exporters of Bangladesh have exported various products worth $152 million to the neighboring country India, up 20.53 percent more than the same period of previous fiscal amounting to $126.10 million.

Experts said the export earnings to India are increasing due to geographical reasons with a lower cost of production.

Besides, these earnings have increased rapidly as the country is now producing quality products, they said, expecting that it will continue to grow in the coming days."

If this positive trend continues, Bangladesh's exports to the Indian market will surpass $3 billion for the first time by the end of the current fiscal year, they mentioned."
 

Homo Sapiens

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No need to jump with joy because import from India also experienced similar growth rate. Import from India used to be 8-9 billion Dollar, now it has skyrocketed to 16 billion Dollar. This is much more detrimental to our trade balance than gaining from 1 billion to 2 billion Dollar export growth to India.
 

bluesky

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If this positive trend continues, Bangladesh's exports to the Indian market will surpass $3 billion for the first time by the end of the current fiscal year, they mentioned."
And, India is already exporting $16 billion worth of goods to BD and importing only $2 billion.

Do you think your fatherland India is not cheating our country?
 

bluesky

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Expanding trade is good for both nations.
Its good for ALL nations.
It is especially good for India when India exports $16 billion worth of goods to BD and India's great friends @UKBengali and his twin brother Alga Momen (FM) both praise India for accepting a tiny $2 billion worth of goods from BD.

Jay Hindustan, Joy Bangladesh!!! No wonder, India wants Hasina to remain in power till 2141 and beyond.
 

mb444

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"Bangladesh's exports to India hits record high in the last fiscal year to reach about $2 billion, up 55.62 percent more than the previous fiscal year.

In July, the first month of 2022-23 fiscal year, exporters of Bangladesh have exported various products worth $152 million to the neighboring country India, up 20.53 percent more than the same period of previous fiscal amounting to $126.10 million.

Experts said the export earnings to India are increasing due to geographical reasons with a lower cost of production.

Besides, these earnings have increased rapidly as the country is now producing quality products, they said, expecting that it will continue to grow in the coming days."

If this positive trend continues, Bangladesh's exports to the Indian market will surpass $3 billion for the first time by the end of the current fiscal year, they mentioned."
We need to examine the trajectory of trade ratio before necessarily commenting.

The trade is lopsided and whilst one believes all trade is good BD needs to address asymmetric numbers. At the very least push up the tarrif level if the demand elasticity for indian goods are low and fill the government coffers. Offcourse import like cotton, fertiliser, veterinary medicines for key industries like RMG, Agriculture and livestock should be exempt from tarrifs.
 

Black Tornado

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"Bangladesh's exports to India hits record high in the last fiscal year to reach about $2 billion, up 55.62 percent more than the previous fiscal year.

In July, the first month of 2022-23 fiscal year, exporters of Bangladesh have exported various products worth $152 million to the neighboring country India, up 20.53 percent more than the same period of previous fiscal amounting to $126.10 million.

Experts said the export earnings to India are increasing due to geographical reasons with a lower cost of production.

Besides, these earnings have increased rapidly as the country is now producing quality products, they said, expecting that it will continue to grow in the coming days."

If this positive trend continues, Bangladesh's exports to the Indian market will surpass $3 billion for the first time by the end of the current fiscal year, they mentioned."
Made in Bangladesh is everywhere in branded clothing stores.
And, India is already exporting $16 billion worth of goods to BD and importing only $2 billion.

Do you think your fatherland India is not cheating our country?
Cheating is not right word, its trade. If Bangladesh’s export basket diversifies further it will have more to export.
 

Turingsage

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All trade is lopsided to varying degrees .
One must always TRY to balance trade but that is not always possible.
It isn't between India and China. It isn't between higher than the mountains Pakistan and China. It isn't between Bangladesh and China. It isn't between the all the countries of Europe and China.
It isn't between USA and China.
ETC
ETC
ETC
 

Destranator

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We need to examine the trajectory of trade ratio before necessarily commenting.

The trade is lopsided and whilst one believes all trade is good BD needs to address asymmetric numbers. At the very least push up the tarrif level if the demand elasticity for indian goods are low and fill the government coffers. Offcourse import like cotton, fertiliser, veterinary medicines for key industries like RMG, Agriculture and livestock should be exempt from tarrifs.
Unfortunately, inelastic demand for essential goods (mainly food-related products) is what is driving up imports from India as the cheapest source (offers lowest procurement and shipping costs). The only effective way to tackle this without driving up inflation is to produce substitutes locally.
We really need to transition away from subsistence farming and incentivise large scale, mechanised farming - this would have the dual benefit of multiplying crop yield while freeing up land for secondary and tertiary industries.
 

UKBengali

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No need to jump with joy because import from India also experienced similar growth rate. Import from India used to be 8-9 billion Dollar, now it has skyrocketed to 16 billion Dollar. This is much more detrimental to our trade balance than gaining from 1 billion to 2 billion Dollar export growth to India.


This is far too simplistic a way to look at it.

Indian exports to BD are reaching a saturation point and they can only grow with BD economy and not as a percentage share of the total imports, unless India all of a sudden finds huge oil/gas reserves or moves decades up the technological ladder within a few years.

BD exports to India are nowhere near saturation point and it can keep growing many 10s of per cent a year till 2030 at least.

BD imports from India is around 20% of all it's imports.

Indian imports from BD make up just 0.3% of it's total imports. Plenty of room for BD to increase it's share here and I have talked about 10 billion US dollars by 2030 before as a realistic possibility.

The upcoming FTA will benefit the BD economy far more than the Indian one as nearly everything that India can export to BD it is already able to do so with little if any barriers.

BD cannot keep sustaining it's economic growth without close co-operation with India and any sensible government would have done similar trade arrangement with India.
 
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fallstuff

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Unfortunately, inelastic demand for essential goods (mainly food-related products) is what is driving up imports from India as the cheapest source (offers lowest procurement and shipping costs). The only effective way to tackle this without driving up inflation is to produce substitutes locally.
We really need to transition away from subsistence farming and incentivise large scale, mechanised farming - this would have the dual benefit of multiplying crop yield while freeing up land for secondary and tertiary industries.
That will not be easy.
How many agri landowners will agree to do away the property line dividers (isle) for collective effort ? Not many.
Collective effort will reduce cost and increase harvest.
 

Destranator

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That will not be easy.
How many agri landowners will agree to do away the property line dividers (isle) for collective effort ? Not many.
Collective effort will reduce cost and increase harvest.
Land owners are already struggling with labour shortages. They know automation is inevitable. They can be compensated by large corporations with cash, shares, training, re-employment, etc..
We have to start somewhere - transition to a large scale commercial farming-driven agricultural industry is not going to happen overnight.
 
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