Bangladesh apparel exports surpass India
In the first nine months of 2009, Bangladesh’s garment exports have surpassed India’s, reaching US$9.331 billion. The apparel exports of the two countries in 2008 were basically the same, accounting for 3% of the world’s apparel exports respectively. In 2009, India’s clothing exports fell by 80%. There are two main reasons: First, the global economic crisis intensified competition between India and Bangladesh, Vietnam, and Sri Lanka. International buyers sought low-price clothing products, while India was unable to do so due to rising raw material and electricity prices. Competing with these countries; second, some large Indian clothing manufacturers have established branches in Bangladesh, enjoying the local zero-tariff preferential policies for entering the EU market and cheap local labor, and increasing exports from Bangladesh to foreign markets.
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