Bangladesh Clothing Exports Hit By India'S Payment Crisis

In September of last year,

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 children's clothing retailer is facing financial problems and they are unable to pay in time, which seriously affected Bangladesh's clothing industry."

In the announcement of the number of Bangladesh companies affected by India's retailers' failure to pay, 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.