Bangladesh'S Clothing Exports Were Hit By India'S Payment Crisis.

Bangladesh's clothing and clothing exports to India were hit by obstacles because more than 20 garment companies failed to receive payments from India companies in time, and Bangladesh's companies supplied products to India's companies, the exporter said.

In September last year, the India government expanded Bangladesh's clothing items to India's tax-free entry. The stimulus was welcomed by Bangladesh garment and garment exporters, giving them enthusiasm for the export of the India market.

However, as a company in India failed to pay for garments imported from Bangladesh in time, they are worried that they will affect Bangladesh's clothing companies.

Rachman, the second vice president of Bangladesh garment manufacturers and Exporters Association (BGMEA), said: "a well-known India. Retail of children's wear At present, they are facing financial difficulties and they fail to pay in time. This seriously affects Bangladesh's clothing industry. "

Notice cause India When the retailers failed to pay and affected the number of Bangladesh companies, Rachman said: "the payment of 23 garments and garment factories in Bangladesh is blocked. Some of them were not paid for more than a year. The amount of arrears reached 500 million Taka. The 23 units are at the brink of bankruptcy. "

Referring to the measures to solve this problem, Rachman said: "we complained to the governor of Bangladesh. The governor has mentioned this issue with the deputy governor of the Reserve Bank of India. We also complained to the center for policy dialogue, our Ministry of foreign affairs, the Ministry of Commerce, the Embassy of Bangladesh in India and the Embassy of India in Bangladesh. Therefore, everyone knows this problem. Our commerce secretary is currently visiting India and is also expected to address this issue when discussing with India officials. The retailer in India has promised to pay in June 30, 2012.