Enrolment Number
Jadhav Dhruv
147690592020
Jain Abhee
147690592021
Javiya Jay
147690592022
Delvadiya Jenish
147690592023
Joshi Bhagyashree
147690592024
Page 1
Name of Students
Enrolment Number
Joshi Sharad
147690592025
Students Declaration
Page 2
Institute Certificate
Page 3
Page 4
Table of Content
Sr No.
Title
Page
No.
Student Declaration
II
Institute Certificate
III
Preface
IV
Acknowledgement
10
Plagiarism Report
VI
Executive Summary
Chapter 1
11
Introduction of Bangladesh
13-18
Cotton Sector
19-28
Page 5
31-37
40-46
50-59
60-62
Page 7
63-67
68-72
73-78
Page 8
79-83
PREFACE
As we are very much interested in business, we chose the course of Business
Administration. MBA programme is related with administration and
Page 9
ACKNOWLEDGEMENT
Page 10
The global country report being a team effort. A lot of people have
contributed in successfully completing it. We take this opportunity here to
extend our gratitude towards each one of them.
We would begin by thanking to GUJARAT TECHNICAL UNIVERSITY
and our director. Dr. S.O.JUNARE for giving us this platform to enhance our
skill and also to all the project guides for their seamless support and
cooperation, we would also like to thank our faculty member Prof. Swati
Patel who gave us the right direction and guided us all through. At the same
time they encouraged our efforts and motivated us .
Finally, we sincerely thanks to everyone who directly or indirectly helped us
in this report.
EXECUTIVE SUMMARY
Page 11
We have done our global country study report on the topic A STEEPLED
analysis of Cotton industry of Bangladesh for business opportunities for
Gujarat / India as a part of our third semester. Our objective behind this
study was to analyse various factors affecting cotton industry in India and
Bangladesh. And also finding various business opportunity between India,
Bangladesh.
The cotton sector was primarily part of the process of import substitution
industrialization to replace imports. After the liberation, Bangladesh adopted
export oriented industrialization by focusing on the cotton industry.
In our project we further with the overview to the country as well as cotton
industry of the country. We have done the steeple analysis of India through
we got the idea about the business scenario of the India. What kind of social
culture in India! we got known that India is mixed culture country. In India
there different region people are stay.
There was also export of Indian silk, muslin cloth of Bengal, Bihar and
Orissa to other countries by the East Indian Company. The textile industry in
India traditionally, after agriculture is the only industry that has generated
huge employment for both skilled and unskilled labor in textiles.
The strength of our industry is qualitative raw cotton. In India and
Bangladesh the low cost of labor, so the overall cost of product will reduce.
For our topic the different opportunities are the, favorable demographics in
the domestic market; increasing young population coupled with rising
income level than emergence of retail industry as a whole and development
of various malls provide huge opportunities for the apparel segments. So the
wide range of opportunity through we can find business opportunities.
We have also got known that such major player in India and Bangladesh.
Than major exporter from India and Bangladesh. We found them through we
can get known that how we can get the row material. For the start the
business we get information about how that will help in tread. We also found
the visa process to go foreign country. That what documents will required for
that, fees for its application.
Page 12
Page 13
Introduction
Of
Bangladesh
Page 14
Page 15
Climatic variations:The
1.2 Economy
Bangladesh has an agrarian economy, although the shear of Agriculture has
been decreasing over the last five years. Yet it dominates the economy
accommodating major labour force living in the rural areas. From the marketing
point of view, Bangladesh has been following a mixed economy that operates
on free market principles.
Some macro economic indicators of Bangladesh in the fiscal year 2006 as
follows
Total GDP (in constant price): 42.44 billion US$
Total GNI (in constant price): 66.03 billion US$
GDP growth rate: 6.63 %.
Sectora Share of GDP (%):
Agriculture: 19.61
Page 16
Industry: 27.91
Service: 52.48
Growth rate in Agriculture: 2.95%
Per capita income: 476 US$.
Total consumption: 49.43 billion US$
Private: 45.99 billion US$
Public: 3.44 billion US$
Total Investment: 15.28 billion US$
Private: 11.55 billion US$
Public: 3.71 billion US$
Total National Savings: 17.14 billion US$
1.3 Agriculture
Agriculture is the driven force of our national economy, 48.1% of the total
population are directly involve with the agriculture. Agriculture sector
comprises crops & horticulture, Animal farming/livestock, Forest & related
service and fishing/fisheries. All of them crop sector alone contribute 11.72% to
the GDP of the country. There are many public & private sector organizations
are involved in Agricultural development in the country. Rice is the main staple
food of Bangladesh and its production is about 26530 thousand metric tones.
Other major crops are wheat, Maize, Potato and Jute. Some basic information
on agriculture of Bangladesh is as follows.
1. Total cropped area : 14.11 million hectare
4. Cultivated area : 7.98 million hectare
3. Forest area : 2.60 million hectare
5. Cultivable waste : 0.27 million hectare
6. Current fellow : 0.47 million hectare
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1.4 Industry
In the total population 35.8 % are involve in the industrial sector in the country.
Textile & Readymade Garments alone employed about 5.2 % of the total
population. The major Industrial products are Cotton textile, Jute textile,
Garments, Paper, Fertilizer, Irons & Steel, Cement, Petroleum products,
Cigarettes, Matches, Drugs, Pharmaceuticals, Tea, Salt, Edible Oil etc.
Some basic fact of Industrial sectors of Bangladesh is as follows.
Share of Industrial sector in GDP(%): 27.91
Contribution of Garments industries in GDP: 27%
RMG contributes 7.5% of total export
Production of Cotton textile: 17530
Yarn: 13838 metric ton
Cloth: 3692 thousand meter
Production of Jute textile: 22313
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1.5 Finance
National finance is comprises with tax revenue and non-tax revenue.
Total revenue: 66.89 million US$
Tax revenue: 53.93 US$
Non-tax revenue: 12.96 US$
1.6 Environment
Water and Air pollution are two major concern of Bangladesh environment at
the present moment. A World Bank report of 2000 states that the diesel vehicles
are accountable for 44% particulate matter and 85% particulate nitrogen oxide
pollution of Air in Dhaka city.
1.7 Investment
medium Bangladesh consist low waged and available labour force and
manpower resources. There are huge scope to invest in the sector of cotton &
Jute Textile, Readymade garments, Frozen Foods, Processed Foods, Agrobased
industries and Small & Cottage Industries.
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Cotton Industry
Page 20
Page 21
2.2 Intercropping
To make the cotton cultivation profitable and to provide additional income to
the farmers, the introduction of inter and relay cropping with well experienced
management practices have open up a new hope of better competitiveness of
cotton crop in cotton cultivation. So, much emphasis and stress have been given
to inter and relay cropping of cotton for getting more total income from the
same piece of land. This system of cotton cultivation has already gained
popularity due to the rational and tireless efforts of CDB extension staff. Among
the inter crops Amaranths sp. (Red amaranth, amaranth), radish (as leafy
vegetables), onion, mungbean, chili, turmeric, ginger etc. have been
successfully cultivated as inter and relay crops with cotton. Farmers are getting
about 25%more net profit by growing different leafy vegetables and about 50%
by growing turmeric/ginger with cotton. Sowing of wheat between cotton rows
in November also revealed encouraging results. Inter cropping of ground nut
with cotton was also reported to give more total income over the sole cotton.
Research on cotton
ii) Extension Service including technology transfer, training & demonstra tion
iii)
iv)
1) Research.
CDB has 03 Research Training and Seed multiplication farms and one
germplasm preservation and evaluation centre for upland cotton. In
addition a separate research station and other 3 substations located at
three hill districts for research on hill cotton. CDB is conducting research
on 5 disciplines viz., plant breeding,, agronomy, soil science, entomology
and plant pathology although CDBs research is not up to the mark due to
short of qualified and adequate number of scientists.
2) Extension.
CDB has four regional Offices each having two to four zones to a total of
13 zones in the country and each zone is further divided into10-18 units
depending upon the intensity of cotton cultivation. Each unit is headed by
a Cotton Unit Officer (CUO). In a number of units, the CUO is assisted
by 1-2 Store cum field man (SCFM) and Assistant Cotton Unit Officer
(ACUO). Based on the previous years target and achievement, and after
consultation with local growers, the Cotton Unit Officers (COU) and
Store Cum Field (SCFM) man fix the annual target for cotton acreage for
their respective unit and channel this information via the cotton
Development Officer (CDO) and Chief cotton development officer
(CCDO) to the Deputy Director (DD) at regional office. The DD fixes up
the final target for the specific units and forwards it to the Executive
Director (ED) at the headquarter for the approval. CDB strives to achieve
Page 23
the annual target by under tacking several extension related activities that
include the following:
3) Training.
CDB arranges training for contact farmers at three of its Research,
Training and Seed Multiplication Farms. Training for contract farmers is
organized twice every crop season. There are fully residential training
and duration is 5-7 days. CDB also conducted one day training for the
general farmers at the farmers field for 6 hours. CDB also organizes
field days as motivational programme. Training for extension staff and
Officers are also designed to communicate information about new
technology on cotton production.
5) Credit.
CDB provides credit from its own fund to small and marginal farmers
through inputs like seed, fertilizers and pesticides. Every farmer provides
quality seed, fertilizers and pesticides. Credit money is recovered at the
time of seed cotton procurement. There is a Memorandum of
understanding (MOU) between CDB and BKB , RAKAB to provide
credit to cotton farmers. Accordingly, Bangladesh Agriculture Bank
(BKB) and Rajshahi Krishi Unnayan Bank(RAKAB) provide credit to
the cotton farmers.
6) Other activities.
Page 24
Page 26
CDB has nine ginning centers located at different farms and cotton growing
areas. The ginning centers have a total of ten Lumus 4012 inch saw- gins with
a capacity of about 3 tons seed cotton per 8- hour shift each. Besides, these
there are four local made ginning machines. CDB does provide ginning
facilities to the cotton growers, there are large number of private ginners in the
nearby locations of the cotton growing areas, who provide ginning facilities to
the cotton growers. There are more than 50 private ginners in the country and
they play important role for cotton production and marketing. They purchase
seed cotton from the farmers through competition. They sell lint to the spinning
mills after ginning from their own ginning centers.
2.7.1 Fiber Industry
Total Spinning Mills: 237 Nos
Total Spindles: 4858473 Nos
Total Rotors: 100890 Nos
Annual production of yarn: 500 million kg
2.7.2 Textile and Confection Industry
Total Oven Mills: 1343 Nos
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Page 28
Long duration crop needs 6-7 month for production. Commercial five varieties
are grown in Bangladesh namely, CB-1, CB-3, CB-5, CB-9, and CB-10. Out of
five varieties, only CB-5 and CB-9 are hairy varieties which are slightly tolerant
to sucking pests and all the varieties are long duration and they need at least six
months. Some of the private companies have been imported hybrid seeds for
trial to see the yield performance but these are not performing better than open
pollinated varieties developed by CDB in addition it needs high inputs for
cultivation.
2.8.4 High input cost
High input cost, particularly fertilizer and pesticides. This is because of the
heavy reliance on pesticides for cotton pest management.
2.8.5 Competition from other crops
At present cotton is highly competitive with other crops and in many cotton
growing areas farmers find it more profitable to grow other crops such as rice,
maize, vegetables, banana, flowers, tobacco etc. than cotton. Thats why farmers
are migrating to other crops.
2.8.6 Insect pests and Diseases of cotton
Similar to many countries, cotton in Bangladesh is major polluter crop due to
the heavy and indiscriminate pesticide use, especially insecticides for Aphids,
Jassids and cotton bollworms. The number of insecticide sprays exceeds 15-20
per season bringing the cost of insecticides to more than 40% of total input costs
and triggering pest resurgence and secondary out breaks. Important insect pests
of American cotton in Bangladesh include the chewing insect namely American
bollworm, spotted bollworm and pink bollworms and the sucking insects
namely the Jassids, aphids and whitefly. Sometime Spodoptera is also become a
serious pest in some areas of Bangladesh. The insect pest complex on Hill
cotton is similar to American cotton.
2.8.7 Weed problem
During cotton cultivation, in Bangladesh high rainfall and high temperature
prevail that enhance huge growth of upland weeds leads to increase cost of
production.
2.8.8 Low market price for cotton
Page 29
In Bangladesh, the price fixed by CDB for its procurement of seed cotton from
its contact farmers also influences the general market price. The CDB rate itself
is fixed by a committee.International market price is the main factor that is
considered by fixing the cotton price in Bangladesh. So, cotton price is the
important factor in determining future cotton production in Bangladesh.
insect. However, farmers are not to be attentive in adopting this method. The
farmers spraying insecticides, which is not very effective neither the practice is
economic. The farmers needed training in this area as well as well as they are to
be motivated for effective control of bollworm.
Page 31
INTRODUCTION
OF
INDIAN
Page 32
COTTON INDUSTRY
Page 33
lengths of cotton. Indian and international standards use different staple length
definitions for classifying cotton. By Indian standards, about one-half of Indian
cotton is medium staple length, but, by international standards, only about onequarter of Indian cotton is considered medium staple. The North zone tends to
produce mostly short and medium staple varieties, the South zone mostly long
and extra-long staples.
India has the capacity to produce the full range of staple lengths of cotton
needed to meet the needs of its textile industry. And Indias hand- picked cotton
is considered superior to mechanically harvested cotton in terms of sheen of
finished fabric, amenability to spinning, tensile strength, etc. India, however,
has significant problems in meeting other quality needs. In particular, Indian
cotton is generally contaminated with other fibers and foreign matter and often
consists of admixtures of multiple varieties with different fiber characteristics.
These problems reduce efficiency (yarn realization) in the spinning process and
result in higher levels of yarn impurities and imperfections. A 2001 survey by
Page 35
Page 37
Ginning: Ginning is the process where cotton fiber is separated from the
cotton seed. The first step in the ginning process is when the cotton is vacuumed
into tubes that carry it to a dryer to reduce moisture and improve the fiber
quality. Then it runs through cleaning equipment to remove leaf trash, sticks and
other foreign matter. Ginning is accomplished by one of two methods. Cotton
varieties with shorter staple or fiber length are ginned with saw gins. This
process involves the use of circular saws that grip the fibers and pull them
through narrow slots. The seeds are too large to pass through these openings,
resulting in the fibers being pulled away from the seed. Long fiber cottons must
be ginned in a roller gin because saw gins can damage their delicate fibers.
Oil mill:
in the operation the oil is extracted from the cotton seeds that
are coming form the ginning process. The cotton seeds coming from the ginning
unit are then passed through the pressing unit and crude cotton oil is produced.
The pressed cotton seed oil cake is supplied as the cattle feed. The crude is
further modified as the bio-diesel which could be used as the one of the energy
source. The refined cotton oil is also used as the edible oil but it is proved to be
unfit for the human health.
Page 39
manmade, or blended yarns into woven or knitted fabrics. Indias weaving and
knitting sector remains highly fragmented, small- scale, and labor-intensive.
This sector consists of about 3.9 million handlooms, 380,000 powerloom
enterprises that operate about 1.7 million looms, and just 137,000 looms in the
various composite mills. Powerlooms are small firms, with an average loom
Page 40
Fabric Finishing.Fabric
Clothing.Apparel
Page 41
STEEPLED
ANALYSIS
OF
INDIA
Page 42
SOCIOCULTURAL SECTOR
Society and culture is an important factor that must be given emphasis by any
business, specifically those who are operating in the global arena. It is important
that the company must operate in compliance with the social system in order to
gain good reputation and effective public image. On the other hand, cultural
aspect is equally essential, in order to understand the various needs of different
individuals that belongs to different cultures.
-
Age distribution
Career attitudes
Consumer behavior
Page 43
The working group on textile & jute industry for the 11th five year plan (20072012) has studied the major problems being faced by the textile industry which
include:
1 structural weakness in weaving and processing,
2 fragmented and technologically backward textile processing sector,
3 fragmented garment industry,
4 inadequate capacity of the domestic textile machinery manufacturing sector,
5 inadequate training facilities in textile sector,
At present, the textile industry is undergoing a substantial re-orientation towards
other then clothing segments of textile sector, which is commonly called as
technical textile. It is moving vertically with an average growing rate of nearly
two times of textile for clothing applications and now account for more than
half of the total textile outlet. The process in making technical textile require
costly machinery and skilled workers.
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Page 45
Political and government diversity:The reservation of production for very small companies that was imposed with
an intention to help out small scale companies across the country, led substantial
fragmentation that distorted the competitiveness of industry. However, most of
the sector now have been de-reserved, and major entrepreneurs and corporate
are putting-in huge amount of money in establishing big facilities or in
expansion of their existing plants.
Secondly, the foreign investment was kept out of textile and apparel production.
Now, the government has gradually eliminated this restriction, by bringing
down import duties on capital equipment, offering foreign investors to set up
manufacturing facilities in India. In recent years, India has provided a global
manufacturing platform to other multi-national companies that manufacturing
other than products; it can provide a base for textile industry.
And some motivating step taken by the government, other problems still
sustains like various taxes and excise imbalances due to diversification into
states and union territories. However, an outline of VAT is being implements in
Page 46
place of all other tax diversification, which will clear these imbalances once it
is imposed fully.
And other factors are lack of trade membership, which restrict to tap other
potential market. And also lacking to generate economies of scale is another
legal factor to this industry. A government has charged higher indirect taxes,
power and interest rates. The uneven supply base also leads barriers in attaining
integration between the links in supply chain. This issue creates uncontrollable,
unreliable and inconsistent performance. The liberalization being carried in the
1990s also ushered in a new era for Indias textile industry. It led to the
relaxation of many of the constraints previously imposed on the textile sector.
Licensing was removed in the early 90s by the statements of industrial policy
and the textile development and regulation order. In 1995, India signed the
agreement of traffic and trade bringing some of its policies at with those at an
international level.
At present, the single biggest factor influencing the textile industry appear to be
the end of the textile quota regime of quantitative import restrictions under the
multi-fiber arrangement (MFA) on 1st January 2005
Under The World trade organization (WTO) agreement on textile and clothing.
The removal of quotas, seen as an opportunity by many, including the
government, is driving investment and liberalization in the textile space.
Page 47
India can also grab opportunities in the export market. The industry has the
potential of attaining $34bn export earnings by the year 2010, the regulatory
polices is helping out to enhance infrastructures of apparel parks, specialized
textile parks, EPZs and EOUs.
Monsoon Dependence.Erratic
that reduces investment in seed, fertilizer, and pesticide inputs. Even with
improved varieties and management, average yields in the mostly rainfed
Central and South zones are likely to remain below those achieved in other
countries with more reliable rainfall.
Plant Protection.Insect
Water Pollution
Large quantity of water is used at various stages of the cotton textile from
Cotton farming to cotton finishing. Water gets polluted due to excess use of
pesticides in the cotton faming. During rainy season these excess pesticides gets
Page 50
mixed with the surface water as well as the ground water intern causing the bad
effect on the human health as well as the aquatic life.
Soil Pollution
Soil in the cotton growing region and near by region is getting polluted because
of the excessive use of the chemical pesticides resulting into the low yield. This
can be avoided by using the organic pesticides for growing the cotton.
Page 51
STEEPLED
ANALYSIS
OF
BANGLADESH
Page 52
Given the nature of cotton farming work, worker/farmer health and safety is a
critical issue in cotton cultivation: the key risks are that workers family or
hired, depending on regional context are exposed to harmful toxins,
primarily because they are not provided with or do not wear adequate
personnel protective equipment (PPE) while spraying chemical pesticides and
herbicides.
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In the context of worker health and safety, special attention should be given to
working conditions in ginneries work characterised by seasonality, dust
pollution, machine danger and long hours, albeit with differences between
regions
Child labour
Key issues are childrens health and safety, and access to education (though the
latter may depend on factors outside the control of parents, such as availability
of local facilities).
Delayed Sowing.
Monsoon Dependence.Erratic
public and private sectors are now cultivated in India. A study by the Central
Institute for Cotton Research (CICR) indicates that the average cotton farmer
in the Central and South zones plants 3-4 varieties on farms averaging about 2
hectares, a practice that greatly complicates crop and seed management.
Plant Protection.Insect
Water Pollution
Large quantity of water is used at various stages of the cotton textile from
Cotton farming to cotton finishing. Water gets polluted due to excess use of
pesticides in the cotton faming. During rainy season these excess pesticides gets
mixed with the surface water as well as the ground water intern causing the bad
effect on the human health as well as the aquatic life.
Soil Pollution
Soil in the cotton growing region and near by region is getting polluted because
of the excessive use of the chemical pesticides resulting into the low yield. This
can be avoided by using the organic pesticides for growing the cotton.
The pollution due to lint in the cotton ginning industry is very hazardous to
health. Most of the worker working at this place suffers form the lungs diseases
because of the pollution problems.
Page 60
PARTIES IN BANGLADESH
Bangladesh
awami league
The
The
Bangladesh jamat-e-islami(BJI)
STEEPLED
ANALYSIS
OF
Page 62
COTTON TEXTILE
INDUSTRY
The state governments are authorized to grants environments to the stand alone
grinding units. For the purpose of environments clearances, port based/inland
bulk handling terminal should be treated at per with the stand alone grinding
units and state governments should be authorized in this regard.
PORTERs
FIVE FORCE MODEL
OF
Page 65
COTTON TEXTILE
INDUSTY
One of the worst hit sectors during the skyrocketing interest rate scenario in the
late 90s and early 2009s, the debt-laden Indian Cotton Textile Industry has
spun many turn-around stories since the+n. Aided by lower interest rates,
restructuring packages from financial institutions and the recent dismantle of
quotas, the sector is today well poised to capture growth opportunities. In 2015,
the sector contributed 20% to industrial production, 9% to excise collections,
18% of employment in industrial sector, nearly 20% to the country's total export
earnings and 4% to the GDP. The textile sector employs nearly 35 m people and
is the second highest employer in the country. Infect, it is estimated that one out
of every six households in the country directly or indirectly depend on this
sector. Here we analyse the sector's dynamics through Porter's five-factor
model.
Page 66
of
customers
Global textile & clothing industry is currently pegged at around US$ 440 bn.
US and European markets dominate the global textile trade accounting for 64%
of clothing and 39% of textile market. With the dismantling of quotas, global
textile trade is expected to grow (as per Mc Kinsey estimates) to US$ 650 bn by
2010 (5 year CAGR of 10%). Although China is likely to become the 'supplier
of choice', other low cost producers like India would also benefit as the overseas
importers would try to mitigate their risk of sourcing from only one country.
The two-fold increase in global textile trade is also likely to drive India's
exports growth. India's textile export (at US$ 15 bn in 2005) is expected to grow
Page 67
7.2 Bargaining
Power
of
Suppliers :
India is the third largest producer of cotton in the world after China and US and
has the largest area under cultivation. Cotton, a key raw material in the textile
and garment industry, accounts for about 30% of the fabric cost and 13% of the
garment cost. India has an abundant supply of locally grown long staple cotton,
which lends it a cost advantage in the home textile and apparels segments. Other
countries, like China and Pakistan, have relatively lower supply of locally
grown long staple cotton. Moreover, low cotton prices due to a bumper cotton
crop would enable India to lower its production cost and sustain pricing
pressure. Further, efforts on improving the yield per hectare would ensure
higher productivity and production, thereby providing the much-needed security
of raw-material supply to textile producers.
India also enjoys a significant lead in terms of labour cost per hour (US$ 0.6 in
2004), over developed countries like US (US$ 15.1) and newly industrialised
economies like Hong Kong (US$ 5.1), Taiwan (US$ 7.1), South Korea (US$
5.7) and China (US$ 0.9). Also, India is rich in traditional workers adept at
value-adding tasks, which could give Indian companies significant margin
advantage.
PORTERS
FIVE FORCES
ANALYSIS
OF
Page 70
BANGLADESH
COTTON TEXTILE
INDUSTRY
Page 71
by providing available cheap labor. It has been facing tremendous growth even
after thealleviation of the quota from the US market. This is due close customer
relationship and quality production. Bangladesh has this advantage against its
rivals. Bangladesh is one of those countries who cannot fulfil its quota provided
by the larger markets. As a result of that, many foreign companies are merging
in to use Bangladesh as a hub to prepare their product by outsourcing in
Bangladesh and then gaining entrance to markets which were previously
unavailable to them. Bangladesh is taking advantage of this and inviting
investors, and foreign companies to place orders to attain this facility. It should
focus on placing more orders instead of making its export rates efficient and
strong
Page 75
EXPORT
POLICY
OF
INDIA
Page 76
Page 77
256 new products added under FPS (at 8 digit level), which shall be entitled
for benefits @ 2% of FOB value of exports to all markets.
Zero duty EPCG scheme, introduced in August 2009 and valid for only two
years upto 31.3.2011, has been extended by one more year till 31.3.2012.
Exporters shall now have the flexibility to get a high value EPCG
authorisation by filing their EPCG application on Annual basis.
Finished Leather export shall be entitled for Duty Credit Scrip @ 2% under
FPS.
Page 78
The Government of India notifies the Exim Policy for a period of five years
(1997-2002) under Section 5 of the Foreign Trade (Development and
Regulation Act), 1992. The current policy covers the period 2002-2007. The
Export Import Policy is updated every year on the 31st of March and the
modifications, improvements and new schemes became effective from 1st April
of every year.
All types of changes or modifications related to the Exim Policy is normally
announced by the Union Minister of Commerce and Industry who co-ordinates
with the Ministry of Finance, the Directorate General of Foreign Trade and
its network of regional offices.
Page 79
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Page 81
IMPORT
POLICY
OF
Page 82
BANGLADES
What is Import :
Import trade of Bangladesh is controlled under the Import & Export control Act
(IEC) 1950. Authorized Dealer Banks will import the goods into Bangladesh
following import policy, public notice, F.E circular & other instructions from
competent authorities from time to time.
Definition on Import:
Buying of goods & services from foreign countries for sales is considered as
import. The person or organization who import the goods & services from
foreign countries is known Importer and from which goods & services are
imported is known as Exporter. In case of Import, the importers are asked by
their Exporters to open a Letter of Credit (L/C). So that there payment against
goods & services is ensured.
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Types of Importer :
Goods are imported for personal use, commercial or industrial purpose. So
there are three kinds of importer such as:
Personal Importer.
Commercial Importer.
Industrial Importer.
Import Procedure
To import a person should be an importer. In accordance with Import & Export
Control Act, 1950 the office of chief Controller of Import & Export provides the
registration to the importer. After getting this person has to secure a letter of
credit authorization from Bangladesh Bank. Then he becomes a qualified
importer; He is the person who requests or instructs the opening bank to open an
L/C. He is also called opener or applicant of the Letter of Credit
Application
Trade License
Nationality Certificate
Page 85
10.4
Steps
procedures :
Involved
in
Import
But Indias argument is that when there is a ban on exports of the raw
material in the country, the only feasible way to export it would be
through a canalising agency
BTMA AND BGMEA are represent readymade garments sector and there
future possibilities of fabric manufacture, knidwear, the fabric dyes units
are very high. So to sell there raw cotton with high quality will great
opprtuinity for us
References :
http://www.indiaonestop.com/cotton/cotton.htm
http://www.ers.usda.gov
http://www.citiindia.com/industry_overview/india_industry_overview.html
http://cicr.nic.in/
http://www.infodriveindia.com/india-export-data/cotton-raw-cotton-export/fcbangladesh-report.aspx
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