$250m Annual Batteryexport Eyed by 2024

Battery  manufacturers  of  thecountry have set a target to raisetheir  annual  export  to  US$250million over the next five years fromthe current amount of $57 million.The target was communicated tothe government by AccumulatorBattery   Manufacturers   andExporters’    Association    ofBangladesh  (ABMEAB)  whileplacing their national budget-relatedproposals to the National Board of Revenue (NBR).A B M E A Bofficials   saidthey arec urrent l yexporting theirbatteries to over70   countriesacross the globewhile  regularexports    aremade   to   51countries  aftermeeting    the  internal demands.

Those countries include the USA,the UK, Japan, India, Indonesia,Malaysia,     European     nations,Middle-east countries, Nepal, SriLanka and Singapore.Calling upon the revenue boardfor keeping the current tax ratio onbattery import unchanged, they saidthe battery industry has been a verypotential sector for export-orientedproducts as it avails of the govern-ment’s policy support.Currently, there are 25 percentimport duty, 20 percent supple-mentary duty and 3 percent regu-latory duty on import batteries.

Claiming that the battery facto-ries have employed about 100,000people directly and indirectly acrossthe country, the ABMEAB said theyhave introduced a new advancedtechnology --Sealed MaintenanceFree (SMF)—in the battery manu-facturing which now enjoys thestatus of light engineering sector.

SMF battery is now being usedby hybrid motor vehicles, said thebattery industry operators notingthat some 21 battery industries arenow producing such products.“Currently, our value addition is50 percent. If the industry receivesincentives, the rate of value addi-tion would be higher,” MunawarMisbah     Moin,     president     ofABMEAB, told media.

He said the local battery industryis  capable  to  expand  more  withcreating more jobs if the currentstructure   of   taxation   remainsunchanged.Describing   the   local   batteryindustry’s position as strong, he saidthe introduction of hybrid cars hascreated a new opportunity for thelocal  battery  industries  to  growfurther as the local manufacturershave  continuing  their  efforts  inresearch and development (RND)to cater to the global market.According to the battery industryinsiders, local manufacturers havebeen supplying all kinds of accu-mulator batteries to different sectors,including industries, railway, motorvehicles, electric vehicles, telecom-munication operators, ships, motorlunches, solar power, submarine,IPS, UPS, and generators.

There is a battery market of Tk8,000 crore and most of which issupplied by local producers, saidan  official  of  a  local  batteryindustry.