Last Updated :
25 January 2012 at 15:05 IST
Indian textile cos to shift production base to Bangladesh
NEW DELHI (Commodity Online): Cheap labour, duty concessions has attracted Indian textile companies to shift production base to Bangladesh.
According to A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), the textiles manufactured in Bangladesh will be at least 20 per cent cheaper and sell it in India. And moreover, the textile exports from the country also get certain concessions in developed countries, reported Business Line.
Indian companies has invested around $600 million in 2011-12 fiscal in Bangladesh and expected to go up.
Recently, India has allowed 48 textile items under duty-free import from Bangladesh.This is also to expected to help the companies.
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