Dhaka, Bangladesh (BBN) – Bangladesh’s apparel makers are interested to invest US$ 25 million in India for setting up of the warehouse and distribution centers aiming to minimize trade gap between the two countries.

Bangladesh Garment Manufactures and Exporters Association (BGMEA) submitted a formal proposal in this connection to High Commission of India in Bangladesh on Sunday.

The apparel makers also plan to establish around one thousand retail stores in various cities in India to display and sell our products, and to this end we expect to export approximately $1.0 billion worth of Bangladeshi apparel products within next few years, according to the proposal.

“We would highly appreciate if you could kindly take up the matter with the relevant authorities of India to facilitate allotment of a piece of land in favor of the proposed company as soon as possible, preferably in three months,” BGMEA President Atiqul Islam said in its proposal.

Mentioning recent meeting with Indian Prime Minister Narendra Modi, the BGMEA leader said they particularly discussed about the prospect of boosting RMG export to India in an effort to reduce the existing trade gap between the two countries.

“With this end in view, we urged the Honorable Prime Minister of India to allot us a piece of land in India. The Honorable Prime Minister gave us his kind assurance of favorable consideration,” it noted.