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Rahman said Bangladesh and India share a long border and a number of custom ports as well as having many geographic advantages. But the trade relationship between the two countries has not yet achieved the desired result so far, the BGMEA chief said. “In fact India is a highly potential market for us. The middle-class population in India is growing fast and their buying power is also increasing. Global brands and retailers are opening stores in India,” he said. The trade between Bangladesh and India is growing every year. Because of duty free export of Ready Made Garments (RMG) products, export to India last year was US$279 million which was only US$96 million five years ago, said the BGMEA president. “India is a highly potential market for us because of the population. Global brands and retailers are also opening their stores in India” he said adding that, “Moreover we import most of our cotton, fabrics and other materials from India to produce garments here.” He also said, there are some challenges including lack of capacity in the land custom ports, specially in Petrapole and non-payment issues, which are the major barriers. Tseten Nordon Cargyal said, India-Bangladesh relationship has grown exceptionally in the past few years. Bangladesh’s garments export to India has increased. Half of India’s export to Bangladesh comprises of raw materials and machinery used by Bangladeshi industries, specially the garment industries, she said adding that, this meeting will create more scopes of business interaction between the two countries. While large scale investments are taking place since the last few years, Bangladesh is an important trading partner of India, said Ujwal Lahoti. He said there is a need of extending ties between the textile exporters and suppliers of Bangladesh and India.
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