Bangladesh's garment makers want to build warehouses in India so that they can supply apparel items directly to retail shops across India. Bangladesh seeks to boost its annual garment exports to the Indian market to a billion dollars in three years from about $100 million now. India has already allowed almost all globally renowned clothing retailers to operate in its market. The annual retail market size of India is set to cross $40 billion with growing middle class consumers. The Indian government has started widening connectivity by liberalising trade policy.
Bangladesh wants both Benapole and Petrapole ports to remain open every day for smooth export and import activities. These ports are on the border of the two countries. On an average, the two ports remain closed for three days a week, as it is a holiday in Bangladesh on Friday, while Saturday and Sunday are holidays in India.
Bangladesh also wants India to scrap the 12.5 per cent countervailing duty so that Bangladeshi garment makers can export more. Bangladesh's overall exports to India were worth $456.63 million in 2013-14 compared to $563.97 million in the previous year. Its imports from India were recorded at $6.03 billion in fiscal 2013-14 and $4.78 billion in the previous year. India exports goods worth more than $6 billion to Bangladesh a year through informal channels.
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