Sayeed Muhammad: India, the world’s biggest two-wheeler maker, has emerged the key player of the bike market in Bangladesh.
The value of two-wheeler exports from India to Bangladesh rose by 50% in FY18 to $277 million, followed by Sri Lanka, with values of the shipment to Bangladesh more than doubled since FY16, when it was just $128 million. Hero MotoCorp and Bajaj Auto are the biggest beneficiaries of this surge in demand as they are estimated to control about half of the local market there where they are reportedly fighting for a market leadership.
Bajaj Auto had been a market leader but that position is now threatened by Hero. Bangladesh is estimated to have exported readymade garments worth $29 billion in the calendar year of 2017. Riding on robust economic growth, the nation’s demand for motorcycles soared 50 per cent in 2017 to an estimated 360,000 units. The high double-digit growth continues in 2018 as well.
Source: Business standard