Spiraling Bangladesh garment imports bothering South Indian textile Industry
Concerned about increasing imports from Bangladesh, The Indian Texpreneurs Federation (ITF), Coimbatore based association of more than 560 textile establishments, have approached the Indian textile minister Smriti Irani showing their concern over increasing imports of Bangladeshi garments which is having adverse impact on their business. Local industry fear that Bangladesh will edge them out in the Indian market due to low manufacturing costs and free-trade agreements (FTAs) that create a duty-free expressway for their products into this country. The textile imports from Bangladesh reached 53% in fiscal year 2018-19 to $1.07 billion (Rs 7,500 crore).
Bangladesh is also giving tough competition to India in the international market. India lacks cost effectiveness, narrow focus on target countries and labour shortage, which is making tough for them to compete with all major manufacturing hubs. ITF is looking forward to get support from the Indian textile ministry to engage them with brands, retailers who might look at sourcing from India.
Bangladesh India News Textile Value Chain