Bangladesh, the second largest manufacturer of garments globally, has now begun exporting garments via Maldives, instead of India, to various destinations across the world.
Bangladesh, the second largest manufacturer of garments globally, has now begun exporting garments via Maldives, instead of India, to various destinations across the world.
Bangladesh made the decision to export via Maldives due to airports and ports in India becoming busier, leading to delays.
"This will bring down revenues for India as well through goods handling at airports and ports," India's Mediterranean Shipping Agency's Managing Director Deepak Tiwari said.
Garments from popular brands such as H&M and Zara will now reach the world through being exported via Maldives.
Textile industry is one of the most prominent industries in Bangladesh, with 80 percent of the country's exports being garments. This is 13 percent of the Bangladesh's GDP.
According to media reports, garments brought to Maldives from Bangladesh will be exported via German and Turkish Airlines. Qatar Airways, Aeroflot, Emirates, Gulf Air, Neos Airline and Etihad are included within Maldives' transshipment network.
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