![]() ![]() In recent years, Bangladesh has increased its focus and investment on product diversification, innovation, technology upgradation and skills development in a bid to enhance its capabilities and competitiveness in the global market. Shipments were up 21.4% to 269 MM2.īangladesh is one of the world’s largest garment exporters, with the ready-made-garment sector accounting for around 84% of the country’s total exports. This sector has predominantly MSME units which is more than 70 percent.Leather and leather product exports experienced growth of 20.9% in the quarter, earning $328m in exports from $271.3m in the year-ago period.Īccording to the latest data from the US Office of Textiles and Apparel (OTEXA), Bangladesh recorded the largest increase in apparel imports to the US in August. The apparel sector provides direct employment to approximately 14.5 mn people and out of this 70 percent are women workers and migrant labourers. The exports from the apparel sector were $16.01 bn in the year 2021-22. The Apparel Export Promotion Council (AEPC), is a body of apparel exporters having direct membership of over 7000 apparel manufacturers/exporters. These schemes are helpful in creation of additional capacity, Chairman AEPC added. Government has been providing proactive support to the apparel sector by taking various measures like continuation of Rebate of State and Central Taxes and Levies (RoSCTL) scheme, Production Linked Incentive (PLI) scheme, PM Mega Integrated Textile Region and Apparel (PM MITRA) scheme etc. The major issues submitted by AEPC are: Early announcement of the PLI – 2.0 Scheme, including 10 high potential MMF garment products and cotton apparel products under the Production Linked Incentive Scheme (PLI) and reducing the value addition criteria, Extension of ATUFS, RoSCTL disbursements through bank transfer, Relaxations to apparel exporters under various provisions of FTP allowing Special Advance Authorization for exports of Apparels under Self-Declaration basis, One Time relaxation on account of bankruptcy / insolvency / discounting / cancellation of export orders, Raw material security, RoSCTL benefits for Apparel exports against Indian Rupees, Enhance the ambit of Interest Equalization scheme, Request for extension of GST exemption on International Outbound Freight, etc.”ĪEPC is sincerely grateful to the Government of India for providing continuous support to the Apparel export sector. Highlighting the demand of the industry, Chairman AEPC, Goenka stated, “We have briefed the government about the RMG exports scenario and our issues we are facing currently. In spite of all the constraints, we shall achieve the level of exports of last year and may exceed this year as well.” This is despite various constraints faced by the apparel sector this year, such as increased prices of raw material, Russia-Ukraine war and sluggish demand in major garment importing countries. ![]() ![]() Comparative analysis of this figure with past years, our exports this year have seen a growth of 53.4 percent over the same period in 2020-21 and 1.9 percent over 2019-20.įurther Chairman AEPC informed, “The total set target of apparel exports for 2022-23 is $17.6 bn against which we have been able to achieve $ 9.2 bn during April – October 2022. Indian RMG exports were to the tune of $ 9161.4 mn during April-October 2022-23 as against $ 8589.3 mn during the same period in 2021-22 depicting the growth of 6.7 percent. Production (IIP) for October 2022 also indicates that the manufacture of textiles, clothing and related products recorded a double digit hit, which shows the sluggish demand and pressure on the textiles value chain, Chairman AEPC added. The impact of global slowdown on trade is beginning to show on credit demand from Indian exporters, with export credit by banks shrinking nearly a quarter year-on-year at the end of October by 25 percent, signaling further downsizing in overseas merchandise exports. ![]()
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