Bangladesh apparel makers are exploring scope for establishing a regional value chain for the raw material supply of raw material including fabrics,yarn and accessories from India to increase its share in the global readymade garment market. During a panel discussion at the Textile Source Meet 2023 in Dhaka, organized jointly by the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), the Confederation of Indian Textile Industry (CITI), the Bangladesh Garment Executive Association, and Sowtex, experts emphasized the potential benefits of sourcing raw materials such as cotton, yarn, fabrics, dye chemicals, and machinery from India.
The event provided a platform for industry stakeholders to deliberate on the prospects and challenges associated with this strategic move. Shahidullah Azim, vice-president of BGMEA, underscored India’s significance as the second-largest supplier of raw materials to Bangladesh’s RMG sector, following China. To leverage the potential of this collaboration, Azim stressed the importance of setting a comprehensive roadmap that aligns with Bangladesh’s ambitious target of achieving annual RMG exports worth $100 billion by 2030.
During the discussion, Shafiqur Rahman, managing director of HAMS Group, highlighted the unique advantages offered by Indian raw materials in Bangladesh’s RMG sector.
Shovon Islam, managing director of Sparrow Group, invited participants to witness the transformation of Bangladesh’s factories, emphasizing their world-class standards, modern packaging techniques, automation, and updated software systems.
Islam encouraged attendees to explore design collaboration opportunities and emphasized the need for joint efforts and investments from both Bangladesh and India to overcome any barriers hindering this collaboration.
The panel discussion recognized the sincere efforts of the governments of India and Bangladesh in resolving trade-related challenges and fostering a conducive environment for smooth trade.
Fazlee Shamim Ehsan, vice-president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA),Mr.Pavel Hossain,MD of DSL Group ,Sonil Jain,CEO of Sowtex Network along with industry insiders from both countries, contributed valuable insights to the discussion, underscoring the significance of this potential partnership for the textile and garment industries in Bangladesh and India.