Bangladesh's exports to India to touch USD 1 bn by 2011

[IBRIS]

Bangladesh's exports to India to touch USD 1 bn by 2011

DHAKA: Bangladeshi exporters have chalked out a plan to get a bigger pie of the Indian market to achieve an annual USD 1-billion earning target from exports by 2011.

Bangladesh has a tiny share of USD 500 million of the over USD 250-billion India export market.

However, exports to India have grown by over 100 per cent in the past three years from USD 230 million in 2007 because of reduction in tariff and non-tariff barriers for Bangladeshi products.

"We expect to fulfill the target of exporting our apparels in increased volumes. We are also exploring ways to be engaged as partner of India's Information Communication Technology (ICT) sector for our export promotion," India- Bangladesh Chamber of Commerce and Industry (IBCCI) president President Abdul Matlub Ahmad told PTI.

IBCCI, which set the target of achieving USD 1 billion in exports to India three years ago, is planning to coordinate a series of tours of Bangladeshi exporters to India.

IBCCI officials said a delegation from ICT sector would visit Kolkata on June 14 for a series of meetings with representatives of different software companies for making strategic partnerships.

Another business delegation comprising Bangladesh Garment Manufacturers and Exporters Association (BGMEA) leaders will be in Kolkata on June 18 to discuss with Indian importers, including some chain store operators, for getting a greater and ensured market access at the retail level.

IBCCI officials said similar business team from ICT and garments sectors will also visit Delhi, Hyderabad, Chennai and Bangalore for exploring bigger market.

"We are expecting some significant outcomes from the planned business tours and discussions as we are now trying to expand market for our RMG (ready-made garments) products through engagements with famous chain stores and partnership with Indian IT industry," Ahmad said.

The companies may include software giant Infosys and chain store operators for clothing such as Future Groups' Pantaloon and Tata's Westside, he said.

Ahmad said he expected the bilateral trade ties to be widened as the obstacles of tariff and non-tariff barriers were likely to be eased further in the coming months.

"Both the tariff and non-tariff barriers are also going down through discussions between the countries, and as business community we are hopeful about further increase in export earning from Indian market in near future," he said.

 

[Al-zakir]

IBCCI, which set the target of achieving USD 1 billion in exports to India three years ago, is planning to coordinate a series of tours of Bangladeshi exporters to India.

It will be just like that for another 3 years while we import at least 10 billions legal and illegal ways.

Bd has better chance to direct all of it's energy toward China since already a generous offered at hand.

 

[ramu]

It will be just like that for another 3 years while we import at least 10 billions legal and illegal ways.

Bd has better chance to direct all of it's energy toward China since already a generous offered at hand.

Clearly you dont understand the article. You don't even care about close to 100% increase in exports earnings and what that can bring in revenues to the GoB. But you are stuck to your anti India rhetoric. What is this to do with China? China is a good market for exports but exporting to China is mutually exclusive to exporting to India. Oh well, why should I even try to explain to a hate monger.

It is unfortunate that a few nuts give a wrong impression about Bangladesh-India relations. I have met many Bangaldeshi in India and in UK and in fact I was in a restaurant just yesterday. The warmth and nice relations that BD wants to share with India is not reflected by the members in this forum.

 

[kak1978]

It will be just like that for another 3 years while we import at least 10 billions legal and illegal ways.

Bd has better chance to direct all of it's energy toward China since already a generous offered at hand.

Here is a quick economics lesson for you, prices increase as demand increases. If you only export to china you may not command high prices, but if you have India too in the fray for your exports then you can get a better price. Such thinking is not good for your country!!

 

[Al-zakir]

^^^
We have been trying to exports for years yet no significant out come. We ain't got til eternity so that Bharat will make it easy for our goods. We are to initiate other nations where doing business is joy rather than hectic.

 

[idune]

First of all this is indian propaganda campaign by indian media outlet.

Second these indian propaganda attempts is to compete with Chinese goodwill. But cheap indian talk only go so far.

Third this type of propaganda goes to show how desperate indians are.

 

[idune]

Facts about indian trade aggression:

Trade between Bangladesh and India is heavily tilted in favour of India.

1) In 2005-06, BD’s official imports from India were $1851 million but its exports to India were just $242 million. Exports to India could pay for only 13% of imports from India

2) Imports from India is growing fast, but exports to India remained small and recorded a modest increase

3) In 2005-06, Bangladesh’s exports to India accounted for as little as 2.30 percent of its total exports, whereas imports from India in that year were 12.5% of her total imports

4) Bangladesh’s trade deficit with India increased from $962 million in Fiscal 2001-02 to $1609 million in 2005-06 (a 1.7 times increase)


Unofficial Trade between India and Bangladesh


As in official trade, unofficial India-BD trade is essentially one-way

1) Unofficial imports from India are about 20 times larger than unofficial exports to India

2) Livestock and Cattle are the major import item but many other commodities of everyday use are also imported. Items of unofficial export are limited

3) Actual trade deficit with India would be much larger if unofficial trade were included

 

[idune]

Bangladesh's trade deficit with India up by 13.23 percent

Bangladesh's trade deficit with India up by 13.23 percent

DHAKA, April 2 (Xinhua) -- Bangladesh's trade deficit with India inched up by 13.23 percent in the first half of the current fiscal year (July 2005-June 2006), The Daily Star reported Sunday.

The country's trade deficit with India in the first half of FY06 was 1.07 billion U.S. dollars, which was 945 million dollars in the corresponding period of FY05.

However, according to official statistics, the country's export to India in the first half of FY06 posted an encouraging 42 percent rise from the corresponding period of FY05, compared to a 14.85 percent rise in import from the next-door neighbor. …

Bangladesh's trade deficit with India up by 13.23 percent - Xinhua News Agency | HighBeam Research - FREE trial

 

[Al-zakir]

^^^
So Bharat want's to take us as fool. It's trying to con us with media deception. It think that Bangladeshi has no brain to understand their con game. I think we know better by now...

 

[idune]

Duty-free export of Bangladesh RMG to India faces hidden tariff barrier


Holiday Report

Bangladeshi garments manufacturers are facing difficulties to export their products to India under the duty-free agreement as Delhi has been imposing hidden taxes on ready-made garment.

The higher hidden tax imposed by India has created obstruction on the way of Bangladesh exports of eight million pieces of garments under duty-free facility. BGMEA leaders claim that Delhi is imposing higher hidden taxes, which accounts for more than 18 percent.

BGMEA President Abdus Salam Murshedy said Bangladesh could send only 40 percent of eight million pieces in the first nine months this year. "We couldn't fulfil our quota since the beginning of the facility from 2008," he added.

Bangladesh signed an agreement with India in September 2007 to export eight million pieces of garment items a year under duty-free facility that New Delhi offered under the South Asia Free Trade Agreement (SAFTA). Of the total quota, affiliated members of the BGMEA get a 70 percent share while the rest goes to the members Bangladesh Knitwear Manufacturers and Exporters Association.

However, Bangladesh can hardly benefit from the opportunity of exporting the apparel items because of higher hidden taxes although those products were meant for duty-free export under SAFTA framework.

Under such a situation, both Bangladeshi exporters and Indian importers feel discouraged to go for a bilateral deal due to such hidden higher taxes, which include provincial tax and higher school education charge.

Meanwhile, the Bangladesh commerce ministry in a recent letter has sought clarifications from New Delhi for imposing higher hidden taxes on export of eight million pieces of readymade garment products to India duty-free as per SAFTA facility. "We asked for explanations as we think imposing such taxes is illogical. We are entitled to the duty-free benefit," said a Commerce Ministry official.

The official said explanations have been sought from Delhi and Kolkata through the Bangladesh mission in India. The Ministry expects to receive clarification before the visit of Bangladesh Prime Minister to India beginning from December 19.

During the prime minister's visit, Dhaka will also urge Delhi to increase the duty-free quota and remove non-tariff and para-tariff barriers to increase the volume of trade between the two countries, he said.

The official said the ministry sent the letter following a complaint lodged by Bangladesh Garment Manufacturers and Exporters Association (BGMEA) as the enlisted companies of the association were facing problems in exporting products under duty-free facility.

HOLIDAY > BUSINESS & FINANCE

 

[Cityboy]

^^^
So Bharat want's to take us as fool. It's trying to con us with media deception. It think that Bangladeshi has no brain to understand their con game. I think we know better by now...

yup. .atleast bd members here dunt hv brains. .highly obsessd with india bashing. .but few nuts dunt represent BD.. Its All gob that matters.

 

[DesiGuy]

It will be just like that for another 3 years while we import at least 10 billions legal and illegal ways.

Bd has better chance to direct all of it's energy toward China since already a generous offered at hand.

Why not Just take BD to china and live their???

Problem solved for both BD and India.

 

[prototype]

^^^
So Bharat want's to take us as fool. It's trying to con us with media deception. It think that Bangladeshi has no brain to understand their con game. I think we know better by now...

ur indeed a fool,and yes u have no brain,everything is washed away in ur india-hatred

so what u r trying to say u will not want trade with india,because of reasons,then go on

u r already not on the list of nation who r engaged in a big amount of trade with other nations

neither did it affect india as u r a low priority market

what u r saying is just like india and u.s.a saying to china that we will cancel all business with u because we have a china phobia and trade deficit

 

[fallstuff]

Some export is better than no export at all. Naysayers will always be naysayers.

 

[humblehobbes]

based on my understanding, if there is an unfavorable balance of trade, then that country is a munfique?! India has a negative trade balance with China, but the issue is taken to the Chinese by the Ministry of trade and Commerce. and you dont see Indians cussing Chinese for the negative trade.



Severe deficit of grey matter!