The year of 2020 was the learning period for every Industry leader. Especially the young generation learnt a lot from the pandemic. They implemented their thorough knowledge and played influential role for industry sustainability. S.M Nishat Bin Zia Rumman, Director (Marketing), Amazing Fashions Ltd is one of the young industry leader who also played such role. Recently he shared his experience about pandemic situation and the survival theory for the industry.
Textile Focus: How do you evaluate our Textile Industry in this new year?
S.M Nishat Bin Zia Rumman: The textile industry seems to be more stable than it was back in April to August, however it is quite uncertain to predict as the buyers in different geographical areas have different buying patterns due to the purchase pattern of their customer base in their country. Bangladesh has set itself a target of achieving apparel exports worth $50 billion by 2021, and it seems to be on the right track. In the last financial year, FY18, the Export Promotion Bureau (EPB) states that Bangladesh’s overall exports grew by 5.81%, reaching $36.67 billion, owing to the growth in apparel exports.
Textile Focus: What was your experience during the pandemic period?
S.M Nishat Bin Zia Rumman: The year of 2020 has been a roller coaster for the garments industry. Undoubtedly the industry has been through its hardest time. There has been a lot of order cancellations, due to insufficient orders paying salaries have been very difficult. However, the country and the industry has stood up against the situation and have crossed hard obstacles with maximum determination. The government has helped a lot with the stimulus funds that have played a vital role in keeping the industry alive. Same goes for Bangladesh bank, they have supported the industry immensely. We look forward to their immense support in the upcoming future as well.
Textile Focus: What is making more challenge for our industry growth?
S.M Nishat Bin Zia Rumman: Survival is the biggest challenge right now, so surviving will make the industry stand out globally. Diversify into higher value products than volume, as it is a tough challenge to have full certainty with orders currently due to lockdowns, it will play a big hit or impact on the companies if there is a discrepancy in shipping the orders due to lockdown.
Textile Focus: What is your advice for the industry based on the previous experience?
S.M Nishat Bin Zia Rumman: An advice to the industry would be not taking orders in low price or loss due to the pandemic as it will eventually affect the industry in the long run causing buyers to play an upper hand. Due to this pandemic making the buyers feel that they need to support as well. Therefore, the whole industry needs to elevate their negotiating power. Maintaining proper compliance. Seek help together from Bangladesh Bank and Government to survive at ease.