A Bangladesh appellate court has accepted the agreement signed in May between the Accord Steering Committee and the Bangladesh Garments Manufacturers and Exporters Association (BGMEA) that has the endorsement of the government.
Bangladesh’s apparel exporters believe it is impossible for Indian businesses to import through Bangladesh from other countries to take advantage of duty concessions offered under a trade pact.
Fitch group firm India Ratings and Research on Wednesday lowered its GDP growth forecast India to six-year low at 6.7 per cent in the current fiscal as against 7.3 per cent projected earlier.
The Directorate of Revenue Intelligence has sounded an alarm over garments being imported through Bangladesh from other countries to take advantage of duty concessions offered under a free-trade pact.
The Tiruppur Exporters’ Association (TEA) president Raja M Shanmugham recently urged the Indian Government to revert to the ‘Two Quarter Past Due’ concept (180 days) for non-performing asset (NPA) classification norms for micro, small and medium enterprises (MSMEs) instead of 90 days now as it will provide some breathing time for the units to recover and recoup.
Bangladesh wants to grab more of the market share in some Latin American countries where demand for locally made products, especially apparel, is growing for competitive prices, said Commerce Minister Tipu Munshi yesterday.