As per BGMEA data, Bangladesh’s apparel export to India saw an increase of 111 per cent (on a point-to-point basis) in this time period. In monetary terms, the total apparel export amounted to $218 million, it was $97 million at the same time last year. And as per Bangladesh’s Export Promotion Bureau, between July and December last year, garment shipments to India increased 5.99 per cent year-on-year to fetch $111.33 million.
Global retail giants like H&M and Walmart have already started sourcing from Bangladesh to cater to Indian consumers. With a host of retailers increasing their footprints in the country, sourcing from Bangladesh is set to get a further boost. M&S and GAP are planning to open another 50 stores in India in the next two years, while Adidas has outlined plans to open around 30-40 big flagship stores across Delhi, Mumbai, and Bengaluru, by 2020, which in turn has prompted many more to enter the lucrative Indian market. Only recently, Uniqlo announced its first store to open in Delhi in 2019. Aeropostale, an American teen fashion retailer, has chosen to enter India over China, and expects India to be among its top three markets over the next four years with revenue target of US $ 74.12 million.
IKEA has already opened its first store in Hyderabad while future stores are reportedly planned in Mumbai, Delhi-NCR, Bengaluru, Pune, Surat, and Ahmedabad.