Garment import restrictions from Bangladesh to benefit Indian cos: Industry
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Garment import restrictions from Bangladesh to benefit Indian cos: Industry
India on Saturday imposed port restrictions on import of certain products from Bangladesh. The move is in response to similar measures imposed by Dhaka. Buyers will need to re-align their sourcing and for products with less diffrential in cost and quality, they would shift to Indian suppliers, exporters said. Trade experts said that the move will lead to costs escalation by 15-25% besides delays in shipments as land ports face less traffic than sea ports.“We have imposed this measure in retaliation to Bangladesh’s actions, said an official.
Source: Economictimes.indiatimes.com | Read full article
Garment import restrictions from Bangladesh to benefit Indian cos: Industry
India on Saturday imposed port restrictions on import of certain products from Bangladesh. The move is in response to similar measures imposed by Dhaka. Buyers will need to re-align their sourcing and for products with less diffrential in cost and quality, they would shift to Indian suppliers, exporters said. Trade experts said that the move will lead to costs escalation by 15-25% besides delays in shipments as land ports face less traffic than sea ports.“We have imposed this measure in retaliation to Bangladesh’s actions, said an official.
Source: M.economictimes.com | Read full article
India’s Trade Restrictions: A Boost for Domestic Apparel Industry
India’s recent decision to impose trade restrictions on Bangladeshi goods is expected to benefit the country’s ready-made garment industry. The restrictions target $770 million worth of imports from Bangladesh, which is nearly 42 percent of the bilateral imports.
Source: Devdiscourse.com | Read full article
India limits 42% of imports from Bangladesh, targeting $770 million in goods: GTRI
India has restricted imports worth USD 770 million from Bangladesh through land ports, affecting nearly 42 per cent of bilateral trade. Key products such as garments can now only enter via select seaports. The move is a response to Bangladesh’s growing trade barriers against Indian exports and closer ties with China under interim chief adviser Muhammad Yunus. The new Indian restrictions aim to protect local manufacturing in the northeast and support the Atmanirbhar Bharat initiative. By limiting Bangladeshi goods that compete with products, India hopes to level the playing field. The fall of Sheikh Hasina’s pro-India government in mid-2024 and the rise of Yunus’s interim administration have altered Bangladesh’s regional stance, which India perceives as a growing challenge. India is willing to discuss these issues but it is Bangladesh’s responsibility to create an environment that is free of rancour, an official said. The restrictions look like India’s response to Dhaka restricting imports from India on a large number of items and diplomatic pivot towards China.
Source: M.economictimes.com | Read full article
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Sources
- Original: Garment import restrictions from Bangladesh to benefit Indian cos: Industry
- Garment import restrictions from Bangladesh to benefit Indian cos: Industry
- India’s Trade Restrictions: A Boost for Domestic Apparel Industry
- India limits 42% of imports from Bangladesh, targeting $770 million in goods: GTRI
Source: https://economictimes.indiatimes.com/industry/cons-products/garments-/-textiles/garment-import-restrictions-from-bangladesh-to-benefit-indian-cos-industry/articleshow/121252222.cms