Bangladesh has become a favoured sourcing destination for Indian buyers. Bangladesh attained the top apparel export spot after beating China and Spain. According to Ministry of Commerce and Industry India data, Bangladesh exported readymade garments (RMG) worth $474.71 million in India– the highest amongst all apparel import destinations – registering a gigantic 58.54% increase in 2021 over 2020.
China in 2021 exported apparel to India worth $279.18 million, a decline of 7.48% YoY. Moreover, Spain exported $103.31 million at the same time. Spain’s export surged a massive 50.4% YoY.
In 2021, India imported $1.15 billion worth of RMG, a notable 30% YoY growth. The data also revealed that among the import – knitwear garment import was $556.89 million. Witnessing a 47.61% growth, while the woven garments import was $600.50 million, increasing by 17.13%.
Photo Courtesy: Canva
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