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

　　 The People's Republic of Bangladesh The export of garments and garments to India was hit by obstacles because more than 20 garment companies failed to receive payment from India companies in time, and the companies in Bangladesh 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.

The People's Republic of Bangladesh Apparel manufacturers and Exporters Association Rachman, the second vice president of BGMEA, said: "a well-known retailer of India children's clothing is facing financial problems and they are unable to pay in time. This seriously affects 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.