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. Nurul Amin Mahmood Tuhin, Country Manager, Golden Touch Imports Inc shared his views—
Last few years the overall RMG sector faced some due to pandemic situation .Many buyers hold and overall supply chain disruption .But in 2021,after post pandemic many buyers come back and place order in Bangladesh as the largest sourcing hub .Still huge orders in Bangladesh but our factory capacity is mostly booked still next year . Besides, due to higher raw material prices ,logistic prices especially yarn price higher we can’t meet up price with our supplier and buyer. In the competitive global market most of the retail brands are facing lots of challenges in price issues.
As a US based retailer, Bangladesh is one of our biggest production markets and will continue to be very important to us. We have to plan to increase our sourcing specially women’s wear and high value added products.Stil business is challenging but seeing opportunities if we capitalize it .Bangladesh needs to pick a strong position in the global apparel market, we should focus more on innovation and value addition in the industries with a short lead time that can be the lifeline of the apparel industry We should take a long term strategic approach towards business sustainability rather than short term business growth.
