Export earnings to cross $80B by 2024, hopes Tipu

[Flight of falcon]

Dude, I never talked about my degree.

All I asked was how were you ranked in your cohort?

I only replied with my rank as you asked about a degree that could be worthless as a lot are.

Ignored as you are a total timewaster with no knowledge and just here to troll.

Get a dog… you may finally get some attention.

 

[UKBengali]

All will come in time.

Export diversification takes time. Apparel is a basic necessity, as is food. Other products are not as essential and not in as high a demand for import in most markets.

Import substitution in some light engg., and most of the electronics and home/major appliances have already taken place in Bangladesh to a large degree, which are prerequisites for export diversification.

Bangladesh is doing better than most South Asian countries in terms of home/major appliances e.g. TVs, Refrigerators, Washing machines etc. - at least I know one company is.

85% of cellphones sold in Bangladesh are made locally. Ditto for 75% of TVs and Refrigerators. Ditto for many other small kitchen electrics. These will venture overseas in time - they have to. Price/Quality ratio and Bang-for-the-buck quotient will take care of them.

Export of basic software is taking place, even in languages like Japanese and those of the EU. Local software startups are gaining market share and they have a vibrant market locally at least. Bangladesh is the second largest exporter of software after India and has even a bigger freelance export market percentage-wise compared to India, which is the largest exporter.

While I understand your frustration, you also have to understand that certain overseas markets are saturated and have strong players entrenched in them. Those are tough markets to break into. Talking about EU, US and developed Asian countries especially.

To compete in those markets, you need USP's of high quality, attractive modern design and low cost for lower end entry level product. Right now China has that whole sector cornered. No other country can challenge China in those qualities - for now.

Vietnam, Thailand and Phillippines do have electronics export to some degree but their exports are mostly assembly value-addition related.

Neighboring South Asian countries for example don't export much in terms of electronics into those advanced markets - for example. If they could, they would. But they can't - so they don't even try.

Bangladesh has done a lot in less than five years, and the diversification trend will continue.

Sadly some here will never learn or want to anyhow no matter how much you hit them with facts and logic.

As far as diversification watch out for Walton as there is a good chance that could go VERY BIG from 2025 onwards.

Walton predicts at least 1 billion US dollar in export earnings by 2025 and 3 billion US dollars by 2030.

This may seem like a tall claim but Walton will smash its 100 million US dollar export target for the fiscal ending June 30th. They are growing export sales by 100s of per cent a year now for last 2-3 years. This cannot last for more than a few more years but it is a sign of things to come.

It seems to have reached "critical mass" in terms of price:performance ratio and so it will slot in nicely into the value and quality market in developed countries like in Europe.

Nothing is set in stone yet but this company shows every sign of being the very first hi-tech multinational company to come out of S Asia.

 

[rainbowrascal]

Get a dog… you may finally get some attention.

Get a goat... you need to lay off some heat.

 

[Wergeland]

I believe its achievable if the global geoeconomical situation stays stable. Thats 30% increase from current levels and rougly 2,5 years to achieve that. Ambitious but not unresonable.

 

[BananaRepublicUK]

Lmao ya sweatshops will flood market with more cheap cotton underwear. Absolutely no diversification same shit cheap garments. Good luck.

Try to at least export few billions high value items in light engineering or electronics or even basic software exports.

Your high tech crap doesn’t generate much employment.

At this stage of development - Bangladesh needs loads of jobs.

Only way to generate millions of jobs is through low tech.

Your need to feel superior will not lift millions from poverty.

Covid showed the resilience of Bangladesh’s development model.

Whilst India suffered a covid genocide - Bangladesh sailed through.

 

[avenuepark57]

All will come in time.

Export diversification takes time. Apparel is a basic necessity, as is food. Other products are not as essential and not in as high a demand for import in most markets.

Somebody in some US trailer park near a Walmart will buy cheap cotton underwear, which is a disposable item. Better we make it in Bangladesh and give that job to a semi-educated 19 year old female whose only other option was to work as a maid. That will be her ticket to a better life, clean water and hopefully a pathway to educate her kids.

Making higher value addition items in Bangladesh needs higher levels of education and aptitude. Not many have it locally. However they still have to eat. So lower level value addition making cheap stuff is still a viable alternative.

Import substitution in some light engg., and most of the electronics and home/major appliances have already taken place in Bangladesh to a large degree, which are prerequisites for export diversification.

Bangladesh is doing better than most South Asian countries in terms of home/major appliances e.g. TVs, Refrigerators, Washing machines etc. - at least I know one company is.

85% of cellphones sold in Bangladesh are made locally. Ditto for 75% of TVs and Refrigerators. Ditto for many other small kitchen electrics. These will venture overseas in time - they have to. Price/Quality ratio and Bang-for-the-buck quotient will take care of them.

Export of basic software is taking place, even in languages like Japanese and those of the EU. Local software startups are gaining market share and they have a vibrant market locally at least. Bangladesh is the second largest exporter of software after India and has even a bigger freelance export market percentage-wise compared to India, which is the largest exporter.

While I understand your frustration, you also have to understand that certain overseas markets are saturated and have strong players entrenched in them. Those are tough markets to break into. Talking about EU, US and developed Asian countries especially.

To compete in those markets, you need USP's of high quality, attractive modern design and low cost for lower end entry level product. Right now China has that whole sector cornered. No other country can challenge China in those qualities - for now.

Chinese assemblers and manufacturers will venture into Bangladesh to do the same thing the Japanese did for assembly in Vietnam, Thailand and Phillippines - which do have electronics and even camera, drone type products export to some degree but their exports are mostly assembly value-addition related on behalf of Japanese brands.

Chinese business folks have moved some low end value addition (shoes, toys, electronics) operations to Bangladesh, as well as cellphones, but unlike next door in India (which is to serve local market), our assembly operations are primarily for exports. That type of export operation FDI takes far longer to materialize.

This is the reason I am tired of responding to people who say that India gets "x" amount of FDI while Bangladesh doesn't. India gets FDI for serving their local market. Also, their retraction rate for FDI is way higher than for example - China. Google the subject and you will see what I mean. FDI left Indian shores at far higher rates recently, even before covid (Automotive is one example).

Neighboring South Asian countries for example don't export much in terms of electronics into those advanced markets - for example. If they could, they would. But they can't - so they don't even try.

Bangladesh has done a lot in less than five years, and the diversification trend will continue.

It has further projected that the export of electronic goods from India will rise to more than $15 billion in 2021-22 from $10.6 in 2020-21 (April-March 2022)

India’s mobile phone exports to jump 75% to $5.5 bn in FY2021-22: ICEA - ET Telecom

ICEA revealed that apart from the jump in exports on a year-on-year basis, India is now exporting mobile handsets to “some of the most competitive a..

www.google.com

Toyota to Invest $624 Million to Make EV Parts in India

Toyota Group plans to invest 48 billion rupees ($624 million) to make electric vehicle components in India, as the Japanese carmaker works toward carbon neutrality by 2050.

www.bloomberg.com

https://www.google.com/amp/s/www.financialexpress.com/express-mobility/maruti-suzuki-and-suzuki-motorcycle-india-to-invest-around-rs-19500-crore-in-haryana/2530679/lite/

Tata Motors to strengthen R&D, enhance expertise in EV battery packs

Tata Motors will also collaborate with other group entities, including Jaguar Land Rover in order to enhance its capabilities.

www.google.com

 

[avenuepark57]

Your high tech crap doesn’t generate much employment.

At this stage of development - Bangladesh needs loads of jobs.

Only way to generate millions of jobs is through low tech.

Your need to feel superior will not lift millions from poverty.

Covid showed the resilience of Bangladesh’s development model.

Whilst India suffered a covid genocide - Bangladesh sailed through.

Indian textile exports hit all-time high of $44 billion last fiscal - CNBC TV18

The United States was India's biggest customer with a 27 percent share of textile and apparel export, while cotton textiles grabbed the largest share of the pie, accounting for 37 percent, or $17.2 billion, of the total.

www.google.com

 

[BananaRepublicUK]

Indian textile exports hit all-time high of $44 billion last fiscal - CNBC TV18

The United States was India's biggest customer with a 27 percent share of textile and apparel export, while cotton textiles grabbed the largest share of the pie, accounting for 37 percent, or $17.2 billion, of the total.

www.google.com

That’s pittance for a 1.2 billion population.

Even if India keeps aborting baby girls - it still needs millions of jobs for the ones who survive.

 

[UKBengali]

It has further projected that the export of electronic goods from India will rise to more than $15 billion in 2021-22 from $10.6 in 2020-21 (April-March 2022)

India’s mobile phone exports to jump 75% to $5.5 bn in FY2021-22: ICEA - ET Telecom

ICEA revealed that apart from the jump in exports on a year-on-year basis, India is now exporting mobile handsets to “some of the most competitive a..

www.google.com

Toyota to Invest $624 Million to Make EV Parts in India

Toyota Group plans to invest 48 billion rupees ($624 million) to make electric vehicle components in India, as the Japanese carmaker works toward carbon neutrality by 2050.

www.bloomberg.com

https://www.google.com/amp/s/www.financialexpress.com/express-mobility/maruti-suzuki-and-suzuki-motorcycle-india-to-invest-around-rs-19500-crore-in-haryana/2530679/lite/

Tata Motors to strengthen R&D, enhance expertise in EV battery packs

Tata Motors will also collaborate with other group entities, including Jaguar Land Rover in order to enhance its capabilities.

www.google.com

Good but the problem is that there is little value-add in India as most of these products are assembly jobs for foreign multinationals.

BD is following the East Asian development model with little fdi and high domestic investment.

Thailand has high fdi but is stuck in the "middle-income trap".

All that Modi's "Make in India" initiative is doing is creating lots of jobs, good thing nonetheless, but hounding out the chances for India to create it's own companies. Some may say that India has no choice as it has failed in over 70 years of independence to create it's own competitive electronic companies but this is the reality of "Indian" electronic exports.

When a BD company like Walton exports then we can say that this is BD design and manufacturing capabilities at play and not some assembly job for a multinational like Samsung.

I think out of your links only the last one is an Indian company creating technology that is all Indian and that is what India needs to do if it is ever to have a chance of even being semi-developed country.

 

[Skull and Bones]

It is very much possible.

 

[BananaRepublicUK]

Good but the problem is that there is little value-add in India as most of these products are assembly jobs for foreign multinationals.

BD is following the East Asian development model with little fdi and high domestic investment.

Thailand has high fdi but is stuck in the "middle-income trap".

All that Modi's "Make in India" initiative is doing is creating lots of jobs, good thing nonetheless, but hounding out the chances for India to create it's own companies. Some may say that India has no choice as it has failed in over 70 years of independence to create it's own competitive electronic companies but this is the reality of "Indian" electronic exports.

When a BD company like Walton exports then we can say that this is BD design and manufacturing capabilities at play and not some assembly job for a multinational like Samsung.

I think out of your links only the last one is an Indian company creating technology that is all Indian and that is what India needs to do if it is ever to have a chance of even being semi-developed country.

British gave the Hindu belt a massive leg up.

But after 70 years they still cannot cope with the a flu virus.

 

[AmiEktaKharapChele]

Polio detected, Opinion rejected..

 

[UKBengali]

British gave the Hindu belt a massive leg up.

But after 70 years they still cannot cope with the a flu virus.

My older cousin who has no education at all(yes zero!) once said 20 years ago that if BD had gone it’s own way in 1947 then it would have been as developed as Malaysia. I agree with him.

BD is nothing like the rest of S Asia and is far more like an East Asian society as it is tolerant and homogenous.

Sometimes I wonder if “Greater Bengal” of BD, W Bengal, NE States and Arakhan happened in 1947, as envisioned by some leading Bengalis of the day, then that country may now be one of the industrial giants of this world.

 

[mmr]

Your high tech crap doesn’t generate much employment.

At this stage of development - Bangladesh needs loads of jobs.

Only way to generate millions of jobs is through low tech.

Your need to feel superior will not lift millions from poverty.

Covid showed the resilience of Bangladesh’s development model.

Whilst India suffered a covid genocide - Bangladesh sailed through.

Sure feel good about sweatshops no one stopping you.

India this india that...why u blabbing about india. Focus on bd and its sweatshops.

Lol bd development model? Good joke. No one gives a ****. Go pitch major pension funds or money managers about bd development model they will laugh there *** off.

bd ppl and its circle jerk keep dreaming sweatshops will make bd anything like successful asian countries i say good luck.

 

[Wergeland]

All countries in SA will do well in the future imo. Just need to weed out extremists and corruption. No need for d*ck measuring here cause all there major nations are in a dire situation compared to the West and East Asia.

For BD, imo it looks up to neither India or Pakistan, but countries like Korea, Japan and China. Of course BD is nowhere near the level of these countries ATM, but you have to start somewhere. It that reagards all the ingredients are there;

- highly centralized state
- single ethnic clear majority
- single languge clear majority
- politically stable
- strong single party government
- younge bulge
- decent good work ethics
- eager among population to create businesses
- fairly stable geopolitical conditions
- stable internal security (no general strikes anymore or terrorist attacks)
- Sorrounded by huuge markets (in addition to The West)

Have good relationship with regional Giants like China and India, excellent relationship with Europe and growing relationship with The USA. No existential enemies really except may be stupid Myanmarese junta, but they cant really do that much either, because of China and the obvious strength of Bangladesh having a 170 million strong population. Bangladesh could in theory mass mobilize millions of people within weeks, if neccesary.

So the recipe is there and inshallah BD will fulfill its destiny of becoming a major developed economy by mid century.

Wish all neighbors well too, except those vile hindutva individuals.