Rising Bangladesh exports keep lessons for India: Eco Survey

Image: Collected
The Economic Study 2021 on Friday suggested that India may take some "lessons" from Bangladesh, a solid exporting nation, and give attention to specialising in products in which it is competitive.
It said that Bangladesh seems poised to emerge as a dominant exporter as its outbound shipments posted an extraordinary compounded annual growth fee (CAGR) of 8.6 per cent during 2011-2019, compared to 0.9 per cent for India and 0.4 % for the world.

Bangladesh''s share in world exports features increased from 0.1 per cent in 2011 to 0.3 % in 2019.

The most notable five export commodities (from labour intensive sectors such as textiles, apparels and footwear) account for more than 90 % of the total exports of Bangladesh since 2015, it said.

In case of India, alternatively, export performance is additional broad-based as the very best five export commodities jointly constitute around 40 % of total exports and these goods are capital and technology-intensive, it added.

Quoting the info of Bangladesh, the survey explained it "holds lessons intended for India to build specialty area in products where it is competitive".

According to trade specialists, Bangladesh being a least developed region (LDC) loves duty concession in several global markets.

These concessions help LDCs in registering healthy progress rates in exports when compared with India in most of the developed economies, Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said.

The total trade between your two countries decreased to USD 9.46 billion in 2019-20 from USD 10.25 billion in 2018-29. PTI RR CS ABM ABM

Source: https://www.outlookindia.com

Tags :

Share this news on:

Previous Story

Trending Topics

Archive