In the first half of this year, Bangladesh emerges as the favored destination for Indian garment consumers

In the first half of this year, Bangladesh emerges as the favored destination for Indian garment consumers

1st Sep 2021, Mumbai:

In the first half of this year, India's garment imports climbed by 11.29 percent to the US $ 421.16 million, according to the Ministry of Commerce and Industry.

The drop-in woven textile imports have persisted, with imports valued at US $ 220.62 million in the first six months of 2021, down 11.94 percent.

Knitted clothes, on the other hand, saw a remarkable gain of 56.81 percent on a year-over-year basis in H1 '21, reaching a value of US $ 200.54 million. According to Apparel Resources' analysis, China's apparel exports to India took a hit, with the latter importing the US $ 92.86 million worth of garments from the former, down 36.55 percent on a year-over-year basis.

Bangladesh remained the favorite importing destination for Indian customers, with the US $ 172.66 million worth of clothes imported from the neighboring country in the first half of this year, representing a 55.84 percent year-on-year increase. It's worth mentioning that China's garment shipping to India in H1 '20 was US $ 146.25 million, while Bangladesh's was the only US $ 110.79 million. The situation has changed dramatically in 2021, and Bangladeshi suppliers may continue to be optimistic in H2 '21 as well.

India may 'restrict' clothing imports from BD: HBL

 

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