The whole world has been suffering a lot from the COVID-19 pandemic. Every sector of the industry has been affected. The textile industry is the main remittance earning source for Bangladesh. This industry has been affected a lot due to lockdown everywhere and a shortage of orders. As everywhere vaccination has been started and the COVID-19 infection situation is better now. Fortunately, Bangladesh is receiving plenty of orders now. Team Textile Focus talked with industry stakeholders to know about their business in 2021 and furcating for 2022. Samira Perveze ,Director, Talha Group of Industries shared her views-
Textile Focus: How are you observing 2021 for your business
Samira Perveze : The Covid-19 has wreaked havoc on Bangladesh’s RMG business, and the recovery process is proving difficult for the industry as the crisis continues. The initial wave of the pandemic swept the business, resulting in order cancellations, deferred payments/discounts by purchasers, and a financial crunch that affected the company’s backbone, making it difficult to sustain regular operations. But the matter of hope is that the situation is continuously recovering, and everything is finally getting back to normal.
Besides that, Bangladesh’s export has had steady growth since January 2021, with export earnings in 2021 increasing by $5.08 billion compared to 2020. Moreover, the export volume has been growing more rapidly since May of this year. If export growth continues, export earnings will exceed the pre-pandemic level in 2022. On that note,
We are optimistic that we will recover our position in the RMG industry soon. 2021 was a stepping stone for us, and we hope to recover further in 2022.
Textile Focus: What is your expectation and planning for 2022?
Samira Perveze: Although the industry is going through tremendous growth, quite a few challenges come along with it. The RMG industry lack product diversification due to a lack of infrastructure. Most of the manufacturers produce generic products like woven and basic knitwear categories. So I think BGMEA can also help increase capacity in each of the categories it represents, such as denim, casual shirts, chino trousers, cargo pants, basic t-shirts, polo shirts, and so on, and provide capacity recommendations to its members.
2022 is a challenging year and a year full of promises for us. We expect to reach our targeted export in the coming financial year and reach a new height in the RMG sector.