{"id":9152,"date":"2024-09-04T13:10:33","date_gmt":"2024-09-04T13:10:33","guid":{"rendered":"https:\/\/jonotarsomoy.com\/en\/?p=9152"},"modified":"2024-09-04T13:10:33","modified_gmt":"2024-09-04T13:10:33","slug":"bangladesh-surpasses-india-in-low-cost-manufacturing-wb","status":"publish","type":"post","link":"https:\/\/jonotarsomoy.com\/en\/2024\/09\/04\/bangladesh-surpasses-india-in-low-cost-manufacturing-wb\/","title":{"rendered":"Bangladesh surpasses India in low-cost manufacturing: WB"},"content":{"rendered":"<p>India&#8217;s global trade share has not kept pace with its economic growth, with Vietnam and Bangladesh overtaking the nation as low-cost manufacturing and export hubs, according to the World Bank&#8217;s recent report.<\/p>\n<p>The WB report released on September 3 highlights that the proportion of trade in goods and services as a percentage of India&#8217;s gross domestic product (GDP) declined over the past decade, despite the country&#8217;s rapid economic growth.<\/p>\n<p>Accordingly, India&#8217;s share in global exports of textiles, leather, and footwear increased from 0.9% in 2002 to a peak of 4.5% in 2013 but then fell to 3.5% in 2022. Vietnam&#8217;s and Bangladesh\u2019s share in these sectors reached 5.9% and 5.1% in 2022, respectively.<\/p>\n<p>The bank recommended that India reduce trade costs, lower trade barriers, and deepen trade integration to remain competitive.<\/p>\n<p>The bank expects the Indian economy to continue its rapid growth at a rate of 7% in the current fiscal year, ending in March 2025, following a growth rate of over 8% in the previous year. The multilateral lender also forecasts India&#8217;s growth to average 6.7% for the 2025-2026 and 2026-2027 fiscal years.<\/p>\n<div class=\"adv-img text-center d-print-none\">Source: Agencies<\/div>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s global trade share has not kept pace with its economic growth, with Vietnam and Bangladesh overtaking the nation as low-cost manufacturing and export hubs, according to the World Bank&#8217;s recent report. The WB report released on September 3 highlights that the proportion of trade in goods and services as a percentage of India&#8217;s gross [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[24],"tags":[],"_links":{"self":[{"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/posts\/9152"}],"collection":[{"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/comments?post=9152"}],"version-history":[{"count":1,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/posts\/9152\/revisions"}],"predecessor-version":[{"id":9154,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/posts\/9152\/revisions\/9154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/media\/9153"}],"wp:attachment":[{"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/media?parent=9152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/categories?post=9152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jonotarsomoy.com\/en\/wp-json\/wp\/v2\/tags?post=9152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}