India's Textile Industry Faces Threats From Bangladesh

India's local textile industry has been beset by China's invasion, and now faces another neighbor. The People's Republic of Bangladesh New threats.

India's domestic textile industry is worried that Bangladesh's import of duty free products will further affect their business operations. They also worry that China may abuse tariff free facilities to destroy the textile industry in Indore and India.

Ashish Nigam, President of Indore garment and apparel Traders Association, said China's cheap products and India levy. Heavy taxes Our business has shrunk by nearly 35%. Now, cheap products from Bangladesh may havoc the local textile industry.

Nigam explained that the gap between production costs of Bangladesh and India's production costs may be as high as 50%. We are expropriated. Excise tax Licence fees, value-added tax, water taxes, real estate taxes and so on. Besides, the cost of labor is very high. However, Bangladesh enterprises do not have the tax burden. Bangladesh's labor cost is about 40% lower than that of India. ,

Nigam explains, for example, we need 65-70 rupees for a shirt, and only 30 rupees in Bangladesh. He said that no major shopping mall in Bangladesh sells clothing made in Indore. Bangladesh products will be leveraged to quality because they have modern chemical plants, which have the latest technology. At present, there are about 2200 garment factories in Indore, and 1/5 of local industry workers work in the clothing industry.