India Importers Are In Arrears, Bangladesh'S Clothing Exports To India Have Dropped Sharply.

Importers in India do not pay imports from Bangladesh.

Money has caused panic among garment exporters in Bangladesh, industry insiders say.

In the first quarter of the current fiscal year, the export revenues of Bangladesh clothing to India, especially knitted goods, declined sharply. Manufacturers and exporters attributed this to the fact that India importers did not pay their loans.

Manufacturers and exporters in Bangladesh say local exporters are losing interest in doing business with importers in India, because they are worried about the dishonesty of dishonest importers, even though they do not want to lose such a big market like India.

Bangladesh's clothing export licence to India is facing a setback. About two dozen local clothing projects failed to recover nearly $5 million worth of money from India buyers' dwarf country children's clothing Limited.

Exporters of Bangladesh originally speculated that they could receive payment in 10-11 months of 2011, but the dwarf children's clothing Limited postponed payment, making a guarantee that payment would be made in June 30, 2012.

But after the expiration, the dwarf children's clothing company limited still failed to pay.

In the 7-9 months of fiscal year 2012-13, the export revenue of knitted products from Bangladesh to the India market reached US $4 million 10 thousand, a negative increase of 21.26% over the same period last year.

In the 7-9 month of fiscal year 2011-12, Bangladesh's knitted products exported to the India market were US $5 million.

But the export volume of woven products reached US $17 million 780 thousand for the same period, up by 46.89% over the same period last year.

In the past, the India government exported Bangladesh clothing to India's tax-free entry to a lower level, in order to better promote bilateral trade between the two countries.

The India government's mechanism encourages Bangladesh's clothing exporters to develop India with great enthusiasm.

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India's growing middle class is a major consumer of Bangladesh's infrastructure projects, industry insiders say.

Exporters in Bangladesh consider that the India market is one of the promising markets. Bangladesh's exporters are working hard to develop these markets as part of the diversification strategy, like China, Japan and Russia.

They expect that by the end of this year, the revenues from the India market will exceed 100 million dollars.

Bangladesh's clothing exports to India have increased before, especially after India's exemption from customs duties, said SONY, second vice president of Bangladesh knitwear manufacturers and Exporters Association (BKMEA).

However, the fact that India importers do not pay has caused panic among exporters. At present, they are unwilling to do business with buyers in India.

For this reason, Bangladesh exporters are busy trading with EU and US businessmen, as orders from the European Union and the United States begin to grow in the new season.

Hu Qi, former president of Bangladesh knitwear manufacturers and Exporters Association, said the problem of dwarf children's clothing Limited has reduced the confidence of local exporters.

Muhi Uddin, chairman of Multifabs limited, said that smuggling of locally made clothing from the border should also be the latest direction.

The export decline is responsible.