CNW reports on the Indian cosmetics companies responding to surging demand in Bangladesh
Indian cosmetics companies are widening their manufacturing base in Bangladesh to meet surging demand in this key emerging market of 154 million people, while skirting higher import tariffs for products made in India. But the move of India- owned beauty and personal care products makers into Bangladesh has sparked concern among their Bangladeshi counterparts, who fear their domestic market share being grabbed by Indian companies commanding stronger financial firepower.
Hair and skin care company Marico became the first Indian cosmetics group to set up a production plant in Bangladesh, in 2002 at Gazipur near Dhaka – its local subsidiary is listed on the Dhaka Stock Exchange. This was followed by Indian cosmetics companies VLCC, setting up a plant at Jamalpur in northwest Bangladesh last year and Emami, establishing a plant in 2012, also at Gazipur.
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