Staff Correspondent
Bangladesh has long been India’s largest trading partner in South Asia. This time another milestone has been set in bilateral trade. In the first three months of this year, Bangladesh has risen to the fourth position in the list of India’s top export markets. And in the fiscal year 2020-21, Bangladesh ranks fifth in the world as an export destination for Indians.According to the Hindustan Times, Bangladesh has overtaken Hong Kong to become India’s fourth largest export market from January to March this year. In these three months, India has exported more products to the United States, China and the United Arab Emirates than to Bangladesh.According to the latest data from the Indian Ministry of Commerce, India’s annual exports to Bangladesh from January to March this year increased by 46 per cent to 316 million.In these three months, India exported goods worth 1.54 billion to the United States, 5.92 billion to China and 5.34 billion to the United Arab Emirates.Compared to the same period last year, exports of Indian goods to Bangladesh increased by 35.14 per cent to 950 million in January, 18 per cent to 940 million in February and 93.45 per cent to 127 million in March.On the other hand, in FY 2020-21, India has got Bangladesh as their fifth largest export market. In the previous financial year, Bangladesh was ninth in this list, which means they have improved four steps in one year. During this time, Bangladesh’s exports to India increased by 10.63 percent to 909 million. Among the top four countries in the list in FY 2020-21, Indians exported goods to the United States at a maximum of 5.173 billion, followed by China at 2.12 billion, the UAE at 1.8 billion and Hong Kong at 1.15 billion.
