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. S.M. Nishat Bin Zia Rumman, Director Marketing, Far East Textile & Clothing shared his views-
There is a huge opportunity for Bangladesh to develop
a stronger backward linkage industry
S.M. Nishat Bin Zia Rumman, Director Marketing, Far East Textile & Clothing
2022, A new year along with a new ray of hope. The garments industry did take a U turn in terms of flow of orders which is positive feedback. Due to China backing down from Textiles, there is a huge opportunity for Bangladesh to develop a stronger backward linkage industry that will give the textile industry a competitive advantage along with an expanding market and price benefit. The only problem that occurs to us in the recent situation is that the price of cotton still remains very Volatile. Also, the amount of increase in the prices of cotton has led to more usage of back-to-back limit. However according to the price of yarn and export seems to have a ratio imbalance. However, to keep the industry running we have to overcome all the hurdles as survival of garments is always based on solving problems in the long run.
