{"id":118011,"date":"2021-07-12T17:45:48","date_gmt":"2021-07-12T12:15:48","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=118011"},"modified":"2021-07-12T17:45:48","modified_gmt":"2021-07-12T12:15:48","slug":"bangladesh-boom-fuels-indian-exports","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/bangladesh-boom-fuels-indian-exports\/","title":{"rendered":"Bangladesh boom fuels Indian exports"},"content":{"rendered":"<p><strong>Source<\/strong>: <a href=\"https:\/\/epaper.livemint.com\/Home\/ShareArticle?OrgId=12742c1142a&amp;imageview=0\">Live mint<\/a><\/p>\n<p><strong>Relevance<\/strong>: The article explains the benefits of Bangladesh&#8217;s economic growth for India.<\/p>\n<p><strong>Synopsis:<\/strong> The rapid Economic growth of Bangladesh has many advantages for India.<\/p>\n<p><strong>Background<\/strong><\/p>\n<ul>\n<li>Bangladesh jumped four places to become India\u2019s fifth-largest export destination in the year 2021.<\/li>\n<li>While India\u2019s exports to many of its traditional markets shrank because of the pandemic, its exports to Bangladesh reported an increase.<\/li>\n<li>Exports to Bangladesh grew 11% in the previous fiscal year even as India\u2019s overall exports contracted 7% because of the pandemic, according to government data.<\/li>\n<li>While the US ($51.6 billion) remained India\u2019s top export destination, China ($21.2 billion) became the second-biggest export market, surpassing the United Arab Emirates ($16.7 billion).<\/li>\n<li>However, Bangladesh overtook other countries such as Singapore ($8.7 billion), the UK ($8.2 billion), Germany ($8.1 billion), and the Netherlands ($6.5 billion) to reach the 5th position.<sup>\u00a0<\/sup><\/li>\n<li>In FY21, India\u2019s top export items to Bangladesh were cotton and cotton yarn ($1.5 billion), electricity ($517 million), fuel ($496 million), rice ($354 million), and corn ($328 million).<\/li>\n<\/ul>\n<p><strong>What are the Potential benefits for India owing to the rise of Bangladesh?<\/strong><\/p>\n<p>An expert from Centre for Policy Research, said the rise of Bangladesh as a sub-regional economic power is unambiguously good for India.<\/p>\n<ul>\n<li><strong>Export Market<\/strong>: its growing middle-class provides a big market for Indian agriculture and manufactured goods, as well as for services. For instance,\n<ul>\n<li>Bangladesh depends heavily on its ready made garments sector, as it accounts for 45% of its manufacturing GDP and 85% of its exports. Whereas, India has for several years been a major supplier of cotton and cotton fabric for Bangladesh\u2019s ready made garment industry.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Medical Tourism<\/strong>: Bangladesh is already the biggest source of medical tourism to India.<\/li>\n<li><strong>Source of FDI<\/strong>: Significantly, its increasingly ambitious private sector can be a major source of foreign direct investment in India\u2019s North-East, and India\u2019s northeastern states.<\/li>\n<\/ul>\n<p>India should also pay special attention to help Bangladeshi firms access India\u2019s vast market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Live mint Relevance: The article explains the benefits of Bangladesh&#8217;s economic growth for India. Synopsis: The rapid Economic growth of Bangladesh has many advantages for India. Background Bangladesh jumped four places to become India\u2019s fifth-largest export destination in the year 2021. While India\u2019s exports to many of its traditional markets shrank because of the&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/bangladesh-boom-fuels-indian-exports\/\">Continue reading <span class=\"screen-reader-text\">Bangladesh boom fuels Indian exports<\/span><\/a><\/p>\n","protected":false},"author":10316,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[],"class_list":["post-118011","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704829805},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/118011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10316"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=118011"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/118011\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=118011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=118011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=118011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}